Begin with affordability and evidence
Lenders assess the borrower and the proposed security. Prepare income, existing debt, savings and employment or business records, including documents from abroad where relevant. Ask how the bank treats your tax residence and income currency. There is no single guaranteed financing percentage for every foreign buyer. Keep your purchase budget viable if the lender offers less than expected or the valuation does not support the requested amount.
Compare the whole offer
A headline interest rate does not describe the full cost. Compare the annual percentage rate, term, repayment structure, fees, linked products and the effect of losing any discount. For variable or mixed-rate loans, understand when the rate changes and which benchmark is used. Ask for scenarios showing higher payments. Where currency is relevant, discuss the contractual protections and what exchange-rate movements would mean for your household budget.
Read the personalised documents
For loans within the Spanish real estate credit framework, the FEIN and FiAE are central pre-contractual documents. Read them alongside the draft contract and ask the notary to explain anything unclear during the applicable pre-signing process. Allow the statutory review period rather than treating it as a formality that can be compressed to meet an estate agent's timetable. Confirm the lender's remaining conditions and the offer's validity in writing.
Connect finance to the purchase agreement
A mortgage application, a valuation and a formal loan offer are different milestones. If you cannot buy without financing, discuss an express financing condition before signing a binding reservation or arras agreement. Specify how deadlines, evidence of an application and an unsuccessful result will be handled. Coordinate the bank, notary and seller early, including the payment method and any existing mortgage to be cancelled at completion.
Sources & further reading
Banco de España · Antes de pedir una hipoteca ↗BOE · Ley de contratos de crédito inmobiliario ↗Editorial preview: professional legal review is pending. This guide provides general information and does not determine the legal position of a particular property.
Have a property in mind?
Start by organising its documents and the questions still to resolve.