Mortgages in Spain: Add Renovation Costs to Maximise Your Investment

At Worldwide Property, we strive to make buying your dream property in Spain as seamless as possible. As experts in helping non-residents secure mortgages in Spain, we also offer an innovative option to include funding for property refurbishment. This is ideal for those who want to personalise or improve their new Spanish home, whether for personal use or investment.

How It Works

When you secure a mortgage for a Spanish property through us, our partnering bank can offer up to 70% of the property’s purchase price. But what if the home you’ve chosen could benefit from some upgrades? Perhaps you’ve got a good deal and want to modernise the property to suit your taste. Our partnering bank allows you to add up to 60% of the refurbishment costs on top of the original mortgage amount, all at the same competitive interest rate.

Benefits of Green Renovation

If your planned renovation improves the property’s energy efficiency by more than 30%, you can also benefit from a rate reduction of 0.10%. To simplify the process, our partnering bank arranges a free energy certification both before and after the refurbishment, so you can focus on transforming your property.

Simple, Flexible Process

Here’s how easy it is to get started:

Provide an Estimate – All we need is an estimated amount for the renovation you’re planning when applying for the mortgage.
Submit Your Budget – Within 3 months of completing the purchase, you’ll need to provide a budget for the works.
Advance Drawdown of Funds – Renovation funds are available in advance, allowing you to begin your work immediately. During the first year, you’ll benefit from interest-only payments until the works are complete.

Transform Your Property with Ease

This option is perfect for those looking to take advantage of a good deal and turn it into a space that truly meets your needs. With the additional funds available for refurbishment, you can create your ideal holiday home or investment property while enhancing its value and energy efficiency.

We’re here to guide you through every step of the process. Contact us today to learn more about how you can add renovation costs to your Spanish mortgage and start transforming your property.

For more details, FAQs and the full range of services we offer for Spanish mortgages, check out our dedicated page by clicking here.