More and more Poles know that Spanish banks also provide loans for the purchase of property in Spain to foreigners who have incomes in zlotys, euros, pounds or US dollars. Unfortunately, it is not possible to take a mortgage to buy an apartment in Spain in a Polish bank.

Poles living in Poland or another country can apply for a mortgage from Spanish banks to buy an apartment or house in Spain, at more favorable interest rates than in Poland.

Interest rate

Comparing mortgage rates in Europe in 2023, Spain has one of the lowest real estate loan rates. The average interest rate in 2023 was just 3.75% per year, and this year it is around 4%. Poland has one of the most expensive mortgages in the EU, with only Hungary ahead of us.

For How Many Years and Up to What Age Are Mortgages Issued?

Spanish banks provide loans to Poles for a minimum of 10 and a maximum of 20 years. The age of the borrower can in no case exceed 75 at the time of loan repayment.

As for the amount of the loan, Poles can expect a mortgage of between 50 and 70% of the property's value. In addition to a down-payment of 30 to 50% of the property's value, about 11.5% to 13% of the property's value must be added to the total transaction, of which 10% is for the transfer tax fee (ITP - Impuesto de Transmisiones Patrimoniales), and the rest of the amount is for the notary's service fee and property registration.

As a resident of more than 30 years on the Costa Blanca, having studied law at UA Alicante and an API real estate agent with license 1171, I offer services to facilitate all transactions in accordance with Spanish law.

Contact: +34 679 92 02 09inmojustyna@gmail.com

For more information, visit: www.inmojustyna.com I invite you to cooperate with us!