Costs and documents required for Spanish Equity Release
Documentation required for an Equity Release mortgage if you are self-employed:
- Last 3 months bank statements (Upto 12 months)
- Last 3 months Spanish mortgage statements
- Latest Self Assessment
- Accountants Reference
- Credit Report from Experian or Equifax
- Occasionally you may be asked for a bank reference
- Property deeds
Costs involved in Equity Release:
The costs of an Equity Release mortgage can be included in the new mortgage meaning you rarely have to pay anything upfront other than the valuation.
An approximate breakdown of costs:
- Mortgage deed tax 1.8%
- Notary fees 0.75%
- Bank Arrangement fee 1%
- Valuation € 300
Translator
By N2H