Financing

New Homes Marbella can put you in contact with the best mortgage brokers on the Costa Del Sol, who can help you to secure a mortgage at a competitive rate.

When applying for a mortgage in Spain, non-residents can generally get up to 70% of property value or appraised value, while residents can owe up to 80%. Spanish banks often estimate that 33% of your monthly income will have to cover mortgage payments. New Homes Marbella is ready to help you secure a mortgage on your Costa del Sol property. 

Documentation requirements are different for employed, self-employed and retired employees.

• Employed applicants: NIE number, employer identification, last 3 months salary slips, last P60, last 6 months personal bank details.
• Self-employed candidates: NIE, 3 years-maintained accounts, last 12 months business bank statements, last 6 months personal bank statements. 
• Pensioners: NIE, proof of pension, proof of other income, details of other financial liabilities, personal bank statements for the last 6 months. 
• Arrangement fees: Usually 1% of the value of the mortgage, charged by banks to establish the mortgage. 
• Notary and registrar fees: typically, 1% of the purchase price, attached to the mortgage being a public deed. 
• Stamp duty (VAT): 10% for residential properties and 21% for commercial properties and large plots of land. Spanish Transfer Tax (ITP)