You have an income from your company, a salary, or you income is the profit of your company, a sole proprietorship, buying a house in Spain with the aid of a mortgage also one of your options.
If you are an entrepreneur we can, with almost the same certainty and speed as someone who is employed, be at your service with arranging a mortgage for a home in Spain.
To determine the level of your income, your average annual profit over the last three years is the starting point if you have a sole proprietorship. If you earn a salary, your three years regular salary will be looked at. If you pay yourself a regular dividend, we can also include that as available income.
Spanish banks use a standard that looks at financial costs in relation to income. For entrepreneurs, these are the same standards as for employees.
Spanish mortgage for entrepreneurs
For the best possible chance of success it is important that the profit from the company, seen over the 3-year period, does not show a downward trend and that, apart from substantial investments, there is a regular pattern. We look at both turnover and profit. If you receive income from your holding company which has participations in one or more operating companies, we will present a consolidated balance sheet to the Spanish bank, usually accompanied by an explanation from your accountant.
A specific element for a mortgage for Spain with an entrepreneur concerns the own resources. For the purchase of a property in Spain, the level of unaffordable costs is usually 30% to 40% of the purchase price. You will be asked to prove that you have these own resources. In many cases, the origin of this is also examined. It is important that you have your own funds in your private account and it is to your advantage if you have acquired them through regular accrual. If you withdraw your own funds once from your company, you can prove that you do not need the relevant resources for the company. Depending on your financial position, the bank will go along with this. So you take this issue into account.
All in all it is very possible to get a financing for a house in Spain as an entrepreneur. EuropaHypotheek is happy to assist you with advice and mediation.
Here you can make a calculation of your options. Fill in your details, make a calculation and send it to us so that we can give you insight into the possible forms of financing with an indication of the interest, the monthly costs and a specification of the required own money. Or request a calculation or quotation here, you will receive it within one working day. If you have any questions: give us a call or send an email.