11:36 17 May 2025
Poles Opt for Spanish Mortgages for Property Purchases
More Poles are choosing Spanish mortgages when buying real estate in Spain, drawn by favorable terms and lower interest rates than in Poland. Spanish banks offer up to 70 percent financing for non-residents, with mortgages typically linked to Euribor plus a margin. Standard rates start at Euribor +1.62 percent but can drop to Euribor +1.02 percent if conditions are met, such as arranging salary deposits or purchasing the bank’s insurance products.
“These discounts can significantly reduce the total loan cost and make Spanish mortgages more appealing than those in Poland, especially for long-term investments,” Joanna Ossowska-Rodziewicz, co-owner of By-Bright real estate agency, said.
Applicants must provide proof of income, a Spanish tax ID (NIE), and ensure loan repayments don’t exceed 30 percent of salary. A 30-40 percent down payment is also required, alongside opening a Spanish bank account.
(WBJ)
