Are you a Czech citizen wishing to buy a property in Spain for holiday home, investment or lifestyle purposes? Then you will be pleased to know that it is possible to get a Spanish Mortgage from the Czech Republic and here at EMAC we have two lenders that will lend to Czech clients whose income is in Corona.
Why Czech Buyers Are Choosing Spain?
Spain continues to attract international property buyers thanks to its:
- Warm Mediterranean climate
- Beautiful coastal areas
- Lower property prices compared to Western Europe
- Relaxed lifestyle and culture
- Growing rental market and investment potential
Many Czech nationals are choosing Spain as a second home destination, retirement retreat, or a smart investment opportunity.
Options for a Spanish Mortgage from the Czech Republic
As mentioned earlier EMAC, who specialise in Non-Resident Spanish Mortgages, currently have access to two lenders who are prepared to lend to clients whose income is in Corona, let’s take a deeper look at those now:
1st Product / Lender:
Income: Net incomes need to be more than the equivalent of €48,000 per year
Debt to income affordability ration used no more than 35%
Loan to Value: 70%
Term: 15 years
Rate: 15 year fixed at 3% with options to lower that rate further by taking products with the bank like home and life assurance.
* Income documents, tax returns and bank statements officially translated unless they can be downloaded into English or Spanish.
2nd Product / Lender:
Debt to income ratio up to 40%
Loan to Value: 70%
Term: Up to age 75
Rate: 10 year fixed at 4.3%, then Euribor plus 1.3%
* Income documents, tax returns and bank statements officially translated unless they can be downloaded into English or Spanish
Key Requirements for Getting a Spanish Mortgage from the Czech Republic
To get a Spanish Mortgage from the Czech Republic, you’ll need to provide the following documentation.
- Passports
- Last 6 months personal bank statements
- Last 6 months business bank statements
- Credit report – CBCB – Credit banking Credit Bureau
- Last 6 months payslips
- Last 3 years tax returns
- Employment reference or contract
- Statement to prove origen of funds for the purchase
- Completed fact find
Should You Use a Broker to Obtain A Spanish Mortgage from the Czech Republic?
Using a specialist mortgage broker who understands the processes and systems will save you plenty of time and stress. They will get to know your unique situation and will advise on which product is right for you. They will help prepare and submit your paperwork whilst ensuring everything is in order from the minute you make the application. In some situations its possible they can negotiate better terms, and they can liaise with the bank on your behalf.
Final Thoughts
Getting a Spanish mortgage from the Czech Republic is a well-trodden path for those wanting to invest in one of Europe’s most desirable property markets. With the right guidance and preparation, the dream of owning a Spanish home is within reach.
If you’re ready to take the next step, book a call with one of our mortgage advisors who specialise in non-resident buyers – and let’s get you started on that journey.
