Dutch mortgage for house in Spain
Is it possible to buy a house in Spain with a Dutch mortgage?
The answer is yes & no. This is because it depends on the collateral in Spain. Do you want a mortgage in the Netherlands with a Spanish home as collateral? Then this not possible!
However, do you want to use your Dutch home as collateral? Then a mortgage in the Netherlands may be an option. You will then use your excess value of your home or some other construction. Consider the following scenarios:
- Increase mortgage: You increase the existing mortgage on your home.
- Second mortgage: you take out an additional mortgage.
- Mortgage refinance: you pay off the old mortgage and take out a higher new one.
- Selling property: You sell your property and buy another property. This is possible when emigrating, but also if you buy back another (cheaper) property
And Belgium? Is it possible to buy a house in Spain with a Belgian mortgage?
Belgian lenders are slightly more lenient about buying a house in Spain. There are some Belgian banks, such as KBC and Belfius, that allow a purchase within the EU (European Union). However, collateral (a home in Belgium) is often requested as security for the bank. So it helps to already have a house to buy.
Bear in mind that if you draw down surplus value in the Netherlands or Belgium, a mortgage in Spain may no longer be possible!
Want to calculate whether a Dutch mortgage is possible for you? Then do our excess value check: