Do you break out in a cold sweat just thinking about negotiating a real estate deal in Spanish? It's hard enough to understand how mortgages work without having to think about a different language and legal system.
But don't worry, because there are professionals who can help you through the process and negotiate on your behalf. Most will speak English well and know a lot about the Spanish market and how to buy a house there. As it becomes more and more common to shop abroad, there are more things to choose from. You can now get a "Spanish mortgage" from some high street banks and building societies. This type of loan is designed for people who want to buy a home abroad.
Brokers
The way mortgages and brokers work in the US is very different from the UK. A good broker could make all the difference when it comes to dealing with local bank managers and lawyers. They could make the process easier and make sure you understand all the Spanish terms. Be aware that brokers in Spain are not regulated, so anyone can set up as one. You should look for one that is SL registered and has an office (similar to a limited company). You can also ask for copies of the person's certificates and qualifications. You may need to open a bank account in Spain or one that can handle more than one currency.
Lawyers and judges
You'll need a qualified solicitor or lawyer who speaks more than one language and knows how the law works in Spain. Check with your lawyer first about anything that needs a signature or payment. If you're not going to be living in Spain, you should name a "fiscal representative" to handle government mail while you're away. Your lawyer is a good choice. You could hire a "gestor," who is a local person who fills out legal forms and helps with things like permits, licences, importing things, and money matters. You might also want to talk to a UK expert, like a financial advisor, about tax issues. This is especially important if you want to rent out your home.
Estate Agents
Estate agents who are officially registered and licenced can be your best resource throughout the whole process. They know the area well and can help you both find and buy a home. There are a lot of real estate agents who sell Spanish property on the internet. Make sure they speak English well and are licenced.
