Some formalities when you are buying properties in Spain

Some formalities when you are buying properties in Spain





You can give Power of Attorney in the Favor of your Lawyer for him to be able to act on your behalf. The power of attorney can be signed, at your convenience, either in Spain or in the country of your preference.

 N.I.E. (Spanish ID Number for Foreigners)

The N.I.E. is the ID number that foreigners use in Spain, and is issued by police authorities.

Without this ID number, it is impossible to buy properties in Spain or obtain service contracts for

utilities. Applications to obtain a N.I.E. number tend to take certain time to process, so it is very

Important to present your application for the number, at the beginning of the buying process.


It is essential to have an account in a Spanish bank in order to contract utility services and to pay

Them by direct debit.  Your Lawyer will able to open a bank account in Spain on your behalf.


In Spain, foreigners and non-residents can apply for a mortgage with Spanish banks. Vendôme International Property works with different banks and will advise you the best mortgage option for your property purchase.


In order to obtain a mortgage in Spain, you must meet a series of requirements related to your ability to meet payments and the value of the property being purchased.

The mortgage repayment will never exceed 30% or 35% of the net monthly income of the applicant and the maximum re-payment period is 20 years. 


As part of your mortgage application process, the bank will commission an official, certified and independent valuation company, to carry out a valuation of the property. This company will provide an official report on the value of the property, which becomes the main direct guarantee. Usually the amount it will be 50%-60% of the price.



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