Mortgages

Steps for requesting a mortgage

If you have considered requesting a mortgage loan to finance buying your home these are, in summarized form, the steps you will have to follow:

• The request: The documentation that you will have to provide when requesting your mortgage is the following:
  • the ID number (DNI) of the person applying
  • the tax return from the last financial year and, where appropriate, the declaration Assets Tax
  • three latest payslips (for those with a salary) or registration of the Economic Activities Tax (I.A.E.) (for the self employed)
  • fire insurance policy
  • pledge contract or contract of sale
  • a copy of the last deed of transfer of the building
  • a certificate of payment of community fees
  • the last receipt of the
  • a simple note from the registry certifying that the building is free of liabilities or mortgages
• The valuation: When making your application, the bank will commission a specialist to evaluate the property and to check the property register to ensure it carries no liabilities. The value from the evaluation (the cost of which falls to the buyer) will determine the maximum loan amount.
• Binding Offer: The financial institution reviews all the documentation and delivers the Binding Offer, a document with a validity of 10 days, which cost brings together the financial conditions and the clauses of the deed.
• The formalization: Signing of the mortgage deed takes place in the presence of the notary, the buyer and the financial institution, to be inscribed afterwards in the . Inscription of our home in the Property Register is obligatory for mortgaged homes.