Are you an entrepreneur with a stable income from your Ltd/LLC or sole proprietorship for two years or longer? A Spanish mortgage for a property in Spain is also within your reach. If you’re an entrepreneur, we are here to assist you in arranging a mortgage for the purchase of a house in Spain. You can use the property for vacation and rental purposes, or even for moving to Spain in case the source of your income remains the same. Specifically for entrepreneurs, our advice is to prepare your documents in advance and coordinate your mortgage application in a timely manner.
Mortgages abroad are primarily based on net income. For determining the amount of your income, the average annual profit is taken into account for sole proprietors. If you have an Ltd/LLC, most banks consider your salary: your current salary and that of the past two years.
Many owners of an Ltd/LLC intentionally keep their salaries low due to fiscal reasons. As a result, a mortgage application for a property in Spain often doesn’t meet the general criteria of Spanish banks. Fynis International Mortgages collaborates with a bank that also considers the equity in the Ltd/LLC. A part of the equity is taken into account as income if the profit figures are “good.” The bank thoroughly assesses the activities and financial situation of the Ltd/LLC. In general, this offers excellent opportunities for financing at competitive interest rates. The mortgage is provided by one of the major Spanish banks.