Can I buy a property already bought in Spain (re)finance?

Taking out a mortgage on a Spanish property already owned (equity release)

Most banks in Spain do not refinance. It is also not in common practice in Spain, where a mortgage is released only when the property is transferred.

In certain situations, however, it is possible. For example, you can of course selling a property and buying back another. Want to refinance a property you own anyway? Then take a look at the options and criteria below. Do you meet these? Then ask for a mortgage indication Spain to, we will put you in touch with mortgage brokers who may be able to arrange your equity release.

• Renegotiate with your Spanish bank. Would you like a better offer from your current bank because market conditions have changed? You may then be able to apply for a mortgage renewal, which could be mutually beneficial to both parties
• Extra mortgage amount to be drawn for remodelling. You want to invest in a renovation in your current home (this includes making it more sustainable). The bank is open to this in certain cases.
• Private banking investment. Your property is worth more than €750,000? Then private banking institutions may want to help you finance your Spanish home. Of course, you need to enter into discussions about what you want to use the freed-up capital for.

Criteria for refinancing in Spain

• The age of the applicant is maximum 60 years
• There is ample room for funding, based on a strict assessment method (max 35% fixed expenses relative to your current income)