Documentation required for mortgage applications in Spain

When applying for a mortgage, specific documentation is necessary in Spain to assess your application properly. Below is a categorized list detailing the required documents based on the type of applicant.

For all applicants

1. Colour copy of passport.
2. Full credit report (Experian or Equifax).
3. Bank statement(s) showing savings designated for the deposit, fees, and taxes.
4. Completed application form(s).
5. Latest annual mortgage statement for any properties you may own.
6. Mortgage Direct Terms & Conditions.

Employed applicants (excludes those employed by their own company)

1. Copies of the latest 6 months’ bank statements showing income and payment of regular commitments.
2. Latest 6 months’ payslips.
3. Proof of any bonus received in the last tax year (provide bank statements and payslips).
4. Latest 3 years’ annual tax statements showing gross and net income (P60 for UK applicants).
5. Letter from your employer confirming:
   • Date of joining the company
   • Your position (job title)
   • Your income
   • Employment status (permanent or temporary, if employed for less than 2 years).

Self-employed applicants (sole traders)

1. Copies of the latest 6 months’ personal bank statements.
2. Personal tax returns for the last 3 tax years.
3. Copies of the latest 3 sets of audited sole trader accounts (if applicable).
4. Copies of the last 6 months’ business bank statements (if different from personal account).

Directors of their own company (employed by their own company)

1. Copies of the latest 6 months’ personal bank statements showing drawings from the company.
2. Personal tax returns for the last 3 tax years.
3. Latest 3 sets of company tax returns.
4. Copies of the latest 6 months’ business bank statements.
5. If employed by your own company, provide last 3 months’ payslips.

Retired applicants

1. Proof of all pension income received in the last 2 tax years (P60s for UK clients).
2. Copies of the latest 6 months’ bank statements showing income and payment of regular commitments.

Applicants in receipt of rental income

1. Current tenancy agreement(s).
2. Latest 3 years of annual tax returns showing declared rental income.
3. Annual mortgage statements (if applicable).
4. Bank statements showing rental income paid in from the last 6 months.

For commercial mortgages

1. Latest Nota Simple, plus a web link to the property.
2. Latest three sets of accounts for the existing business if a similar business will be conducted on the property.
3. Business project plan for the new business, including a summary of any previous experience in the same type of business.

For construction mortgages

1. Nota Simple for land purchased (must be purchased outright in advance of application).
2. Architect’s report.
3. Licenses to build.
4. Quotes from construction companies.

Important notes:

• Excel documents will not be accepted.
• Pictures might not be accepted or could delay the process.
• Banks prefer PDF documents for submissions.

Ready to begin your mortgage application?

Ensure you have all the necessary mortgage documentation in Spain to streamline your mortgage process. Contact us today for personalized assistance and start your journey toward securing a mortgage in Spain.