Costa del Sol and Costa Blanca are a popular destinations for many Estonians looking to purchase an investment apartment or a permanent residence. The sunny climate, beautiful nature, and rich cultural heritage make Spain attractive among Estonians. If you’re considering buying property in Spain, it’s worth knowing that Estonian banks also offer financing options for this purpose

Property Loans Abroad

If you’re thinking about buying property in Spain, it’s worth knowing that Estonian banks also provide financing options for this purpose. Our partners Swedbank, Luminor and LHV are ready to offer loans for purchasing real estate abroad, including in Spain. To obtain a property loan for a foreign purchase, collateral in the form of property located in Estonia is required. The size of the loan provided by the bank depends on the price of the property being purchased, the value of the collateral, and the borrower’s creditworthiness. Typically, loans can be obtained up to 60%-80% of the value of the property offered as collateral.

Interest Rates and Repayment Terms

The interest rates and repayment terms for loans largely depend on the individual loan agreement. Loan conditions can vary depending on the bank’s policy and the client’s financial situation. Estonian banks generally offer competitive interest rates and flexible repayment terms, which can extend up to 30 years.

Loan Process and Requirements

Applying for a loan to purchase property in Spain requires some preparation. First, it’s necessary to determine what type of property you want to purchase and the amount of the loan needed. Then, you need to contact the bank to submit a loan application and the required documents, including a property appraisal report and the documents for the property offered as collateral.

If you are considering buying property in Spain, we recommend contacting our partners who can help you understand the loan options and required documentation. Early planning and thorough preparation will help ensure a smooth property transaction.