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Resident mortgages in Spain not difficult to find but the difference in terms and rates can be quite large.
Its only in the last few years that the Banks in Spain have started to relax their lending policy and are now able to offer both a broader range mortgage products and bigger percentages of the purchase price.
As a rule you will need a 20% deposit to help you get a Spanish Resident mortgage bit a lot of lenders are now happy to lend you up to 95% of the value of the property and in some extreme cases over 100%.
Its safe to say that the larger the deposit you have the easier the mortgage will be to get. If you can raise a deposit of 20% of the value then this will make life easier for you and will obviously make the repayments easier.
One thing that is a little different with Spanish Resident Mortgages and something that you may not find in the UK is that the Banks here will very often land on the actual value of the property not what you are paying.
In simple terms if you are paying ¬100,000 but the property is valued by the Banks surveyor at ¬125,000 then you can borrow 80% of the ¬125,000. (Income permitting!).
In order to get any Mortgage whether a Residents Mortgage or Non Resident Spanish Mortgage you need to supply proof of income and demonstrate an ability to repay the mortgage.
For any loan you will need to provide the Bank with a Copy of your Residence Card, Your NIE Number, Pay slips, Contract of Employment and if you are self employed, all your Bank Statements for the last 6 months.
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