Mortgage Advisors

Most buyers in Spain, residents and non-residents alike, purchase their property with a Spanish mortgage loan.  There are many products available, and several considerations to make before deciding on which Spanish mortgage to opt for.  Furthermore, recent changes in the market and increasing interest rates have sparked debate about whether it is still advisable to purchase with a Spanish mortgage at all. We have used our in-depth knowledge and experience to put together this informative introduction to the current mortgage climate, the future of Spanish mortgages and the advantages and disadvantages of borrowing in Spain to assist you in your decision.

Insurance in Spain

An extensive insurance policy in Spain is a must, even if you only have a holiday home, car or investment property in Spain.  It is a legal requirement to have a Spanish buildings insurance policy with a property mortgage loan, as this is the bank’s guarantee if something should happen to the property. Some banks insist on their clients taking a life assurance policy as well, especially senior property owners.  Although this is not compulsory, many banks will insist on it and will not approve the mortgage without it.

Contents insurance is not compulsory but most building insurance policies include a contents policy for a few additional Euros.  Prices are very reasonable so Spanish contents insurance is a worthwhile investment considering the cost of replacing furniture and valuables. Motor insurance tends to be cheaper in Spain than in many other European countries and it is advisable to pay a little more for a policy with added extras such as express 24 breakdown service.

It is possible to request policies in English as well as Spanish nowadays and the insurance products in Spain are becoming broad and competitive.  Other types of insurance available include hunting, fishing, health, boats, bikes, construction, transport, communities and pets.

Our partner use a number of insurance providers to ensure a good selection of products as well as the ability to choose the best policy for you.