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Mortgage in Spain
Essential Notes - Property and Mortgages in Spain

Key Facts

Location


Western Europe.

Time

Mainland Spain/Balearics: GMT + 1 (GMT + 2 from last Sunday in March to last Sunday in October).

The Canary Islands: GMT (GMT + 1 from last Sunday in March to last Sunday in October).

Area

505,988 sq km (195,363 sq miles); includes Spanish North Africa.

Population

44.7 million (official figure 2006).

Electricity

220 or 225 volts AC, 50Hz. Generally, round two-pin plugs and screw-type lamp fittings are in use.

Money

Currency


Euro (€) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents. (Spanish mortgages are in Euros)

Public Holidays

Below are listed Public Holidays for the January 2008-December 2009 period.

2008

1 Jan New Year's Day.

6 Jan* Epiphany.

19 Mar* San Jose.

20 Mar* Maundy Thursday. 

21 Mar Good Friday.

1 May Labour Day.

15 Aug Assumption.

12 Oct National Day.

1 Nov All Saints' Day.

6 Dec Constitution Day.

8 Dec Immaculate Conception.

25 Dec Christmas Day.

2009

1 Jan New Year's Day.

6 Jan* Epiphany.

19 Mar* San Jose.

9 Apr* Maundy Thursday. 

10 Apr Good Friday.

1 May Labour Day.

15 Aug Assumption.

12 Oct National Day.

1 Nov All Saints' Day.

6 Dec Constitution Day.

8 Dec Immaculate Conception.

25 Dec Christmas Day.

Climate

Spain's climate varies from temperate in the north to dry and hot in the south. The best months are from April to October, although July and August can be excessively hot throughout the country except the coastal regions. Madrid is best in late spring or autumn. The central plateau can be bitterly cold in winter. 

Basic financial facts
Max 65% LTV
Max term 35 years
£ 26,400 minimum loan
Repayment and Interest only mortgages
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