Requests & Contact

Mortgage process CasaHipoteca S.L.

Once you have decided to mortgage or re-mortgage your Spanish Property, contact Casahipoteca. The fastest and most convenient way, is to fill out our online enquiry form (the more information you provide here the easier it is for us to determine the best product for you).   Casahipoteca will then send you an "offer in principle" based on the information provided, along with our letter of intent, a checklist of the required documentation and a document describing the mortgage process in Spain. This offer will be sent within 24 hours (not including weekends).

If you are happy with the offer we provide and want us to arrange your mortgage, complete our letter of intent and return this along with the required documentation and the 1st half of our fee. You can do this by fax, efax or email (the lender may ask to see the original copies for the completion but at the application stage copies will suffice).

Once we receive your application we place your file with the relevant lender, who will then open an account on your behalf. The lender will then advise us of the amount required for the valuation and you deposit (or transfer) these funds into your new Spanish account. Upon receipt of this deposit the lender will instruct the valuation of your property (similar to a survey in the UK). The valuation is carried out by independent companies, however most lenders here will only accept the reports of the companies they deal with (as all mortgages here are based on this report), therefore we would advise you decide on the lender before having a valuation carried out to avoid paying for duplicate valuations. The valuation company once instructed will arrange a convenient time and date to go to the property, and after this then produces a full report and submits this to the relevant lender. This process from instruction to the lender having the report takes approximately one week.

Once the lender has the valuation report your complete file is presented to the underwriters (assessors) for final approval. Approval of the application normally takes between 3-5 working days.

Once your mortgage is approved, Casahipoteca will send you the lenders official offer. Then either your agent or solicitor will advise the distribution of funds for the completion, we then inform  the lender and they arrange the subsequent cheques, cash or transfers for the completion.

Once all parties have agreed on a date for the completion your file is sent to the relevant Notary (they normally require the paperwork two working days before the actual completion) and then confirmation of the time, date and place of completion is sent to all parties involved.

On the day of completion all parties must be present, this means everyone named on the mortgage and Escritura (title deeds), your agent, solicitor, vendor and the bank. The Notary will then confirm the details of the sale or re-mortgage and ask everyone to sign the relevant documentation in his or her presence (this is normally in Spanish). The Notary witnesses all signatures and all relevant payments are made. You will then receive a copy of the sale documents and the keys to your property. The lender ensures that all relevant taxes and costs are paid from your bank account and that the property is then registered in the names of the new owners (this can take a few months).

Please note in Spain buildings insurance on properties is a compulsory legal requirement. Casahipoteca can help to arrange this for you.