Buying property in Spain is different from buying property in Scandinavia, but Nykredit's advisors will guide you through the process - step by step.
1. Obtain a loan certificate
On the basis of your current financial situation, Nykredit will determine whether you can be approved as a borrower with Nykredit. If this is the case, we will provide you with a loan certificate. The certificate confirms that Nykredit will grant you a mortgage loan and specifies loan amount, loan type and loan term in agreement with your needs.
2. Finding the property of your dreams
If you have not found the perfect property yet, contact one of the many local real estate agents or alternatively use a buyer's agent.
The buyer's agents have different ways of handling a property purchase and they will charge you according to the method used. Nykredit can help you find a buyer's agent in Spain.
3. Signing a purchase agreement
When you have found the property you were looking for, you sign a purchase agreement. The signing takes place at the notary's office or with the real estate agent.
After signing the agreement, you usually have to deposit 10% of the purchase price. On this occasion it is also decided which notary should complete the deal as well as the date for take over of the property.
4. Loan offer
When you have signed the purchase agreement it is important that you contact Nykredit as soon as possible, because this initiates the actual loan process. After the property has been appraised by a local valuation expert appointed by Nykredit, we will issue a loan offer for you.
5. Acceptance of loan offer
The acceptance has to be received by Nykredit at least 10 banking days before the date for take over of the property.
6. Disbursement of the mortgage loan
The mortgage loan will be disbursed 10 banking days before the date for take over of the property. The revenue from the mortgage loan will be transferred to the notary's account in order to enable him/her to complete the deal.
7. Taking over the property
Nykredit asks the notary to draw up the documents for the mortgage loan. The notary also makes sure that you sign all the relevant documents on the day you take over the property.
