In Spain, all banks are considering a variant of cooperation with foreign borrowers. This is the most famous bank in the country, La Caixa - the analogue of the Russian Sberbank, and the major banks Popular, BBVA, Santander, Bankinter, Sabadell, Bankia.
The lowest interest now in Bankia - from 1.7% per annum, and in Sabadell - the fastest service, the expectation of response is a maximum of 2-3 days, and the decision of the bank comes in 2-3 weeks.
The loan is issued for real estate of any price category. The price, as a rule, is not limited. The main thing is that the buyer can confirm its solvency.
Excellent news in 2017 - since this spring, banks noticeably soften the terms of the loan for foreign buyers. Previously, the borrower required an initial payment of at least 40-50% of the price of the property. Now some banks give up to 80% of the value. As a rule, mortgages in Spain are given for 20-30 years. These conditions are mutually beneficial for both: banks and borrowers. Thus, the rate paid by the buyer is not high, and the bank provides itself with the client for a long time.
The buyer sets priorities himself - to finish with payments quickly, or to reduce the monthly fee. The contract prescribes the possibility of early repayment. Each bank has its own conditions, but usually fines range from 0.01% to 2%. Some banks are forbidden to repay ahead of schedule within the first five years.
Loan repayment occurs from a personal account opened in the same bank to which the mortgage is attached, as well as utility bills and taxes. The payer does not need to track the required date and make payment personally, this happens automatically. The only thing that you need to follow is that you always have a positive balance on your account.