THE LIST OF THE DOCUMENTS WHICH ARE NECESSARY TO GET THE MORTGAGE FOR PURCHASING THE REAL ESTATE IN TENERIFE
1. The copy of the first page of international passport.
2. The Tax Authority issues certificates of residence
3. Work contact for a period not less than 2 years.
4. Employment Certificate (position, salary, annual income).
5. The information about the additional income if a purchaser has one (a contract for property lease etc.)
6. Property Titles ( property, land, patents).
7. The document of opening a current account Справка из банка об открытии расчетного счета, with an extract of cash flows during the year
8. 2-NDFL form.
INDIVIDUALS WHO OWN THE BUSINESS:
1. A copy of the first page of the passport.
2. Certificate of state registration of legal person (company).
3. Certificate of registration in the tax office (INN).
4. Extract from the Unified State Register of Legal Entities.
5. Company charter or a license for an individual activity.
6. The balance of the company for the previous year.
7. Profit and Loss Report.
8. Confirmation of personal solvency.
The documents should be provided in your native and Spanish languages.
The presence of the original is obligatorily.
The necessity to certify Spanish translation is additionally agreed.
Many Spanish banks will gladly provide a loan for the purchasing or constructing of real estate (secured by this property). The amount of loan is 50-60%, sometimes up to 65-70% of the appraised value of the property. Normal credit term ranges from 10 to 30 years, depending on the borrower's age. Prescheduled repayment of credit is possible. The average rate on a mortgage in Tenerife is 3-5%. The conditions of lending rate changes are noted in the loan agreement. As a rule, the payment is required to be done monthly, sometimes quarterly. The is a number of Spanish banks, which provide the loans for the foreigners, here are some of them: BBVA, Unicaja, Caixa Catalunya, Caixa de Girona, Caja Madrid, Banco Andalucia, Deutsche Bank, Banco Popular.
Some banks ask for additional tax returns or any document which shows if a client has a tax dept. It is also useful to carry documents proving financial solvency, such as certificates of ownership of real estate anywhere in the world, shares, enterprises, bank statements. Banks of Tenerife always guarantee the confidentiality of the provided information.