If you are planning to buy a property in Spain, you will need a Spanish bank account to pay utilities, local taxes and mortgage payments. Mortgage Direct can open an account for you as part of the pre-approval process. Firstly we assess your ability to obtain a mortgage in Spain and, when we are confident that we can secure the borrowing, we submit the case to the chosen Bank for a formal pre-approval. Once the mortgage is approved, the bank will open your bank account without you having to travel to Spain in person and waste valuable time and money.
Following the UKâ€™s decision to leave the EU in the referendum, we have spoken to senior contacts at several leading banks in Spain to get an idea of how the Brexit vote may affect Mortgage Direct and Spanish property buyers from the UK.