Spanish remortgaging is the process of replacing your existing mortgage in Spain with a new one. You can do this with your current lender, or with a new bank entirely.

To begin your remortgage, you should review your current mortgage, such as the interest rate and outstanding balance.

You’ll then apply for a new mortgage directly from a Spanish bank or mortgage broker – the latter can help the process run smoother and get you the best and most exclusive deals. The lender will then require a new property valuation to determine the current market value.

If your loan application is accepted, your old mortgage plan will be cancelled, with the new one replacing it.

If you’re considering a Spanish remortgage and would like trusted guidance from experienced mortgage advisors, why not contact Fluent Finance Abroad today? Our friendly and knowledgeable team will assist you in any way they can, simplifying the process from start to finish.

A Spanish remortgage offers numerous benefits and is a good idea if:

• You want to take advantage of better mortgage interest rates
• You need to extend or reduce the loan term
• You want to switch to a different type of mortgage, e.g from a fixed-interest loan to a variable one and vice versa
• You want to release equity from your Spanish property
• You want to switch to another lender

At Fluent Finance Abroad, our reliable specialists can get you the best and most exclusive mortgage deals Spain has to offer – get in touch today!

On average, the Spanish remortgage process takes around 6-10 weeks, although this may differ depending on your individual case and whether you’re a resident or non-resident.

This time accounts for the time spent during the initial application, property valuation, mortgage offer, and cancelling the old policy.

Missing paperwork, hold-ups with the valuation procedure, language barriers or bank holidays are examples of issues that may cause delays, meaning you’ll have to wait longer than you’d like to.

But, by choosing Fluent Finance Abroad to arrange your remortgage with Spanish lenders, we can help to speed up the process – we’ve built up an excellent working relationship with various banks in Spain and know exactly how to get your application through without delays.

Yes – you can remortgage your property with a different lender than the one you took your existing mortgage out with.

Individuals may opt to switch lenders for multiple reasons. For example, they may not have a great relationship with their bank, feel that they’re paying too much interest, or have taken out policies with their current mortgage lender that they don’t benefit from, such as insurance.

To do this, you’ll need:

• Your original mortgage deed – our brokers must be able to see and evaluate your current mortgage deal
• To be up to date with your mortgage – banks will need assurances that you can pay your loan back
• Equity in your property – this is very attractive to potential lenders and even more so if you’re willing to release equity for home improvements

At Fluent Finance Abroad, we’re specialists in Spanish mortgage brokering, and can offer expert advice to residents and non-residents on whether remortgaging with a new lender is the best option for you.