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What documents do I need to supply to apply for a mortgage?
When applying for a mortgage, it's important to provide the bank with all the necessary documents because this will greatly speed up the approval process.
The bank will usually need the following information:
- ID number of the prospective borrower(s): DNI (in the case of Spanish nationals) and NIE (in the case of non-Spanish nationals).
- Deeds of any other properties owned.
- Last year's income tax return.
- Earnest money or deposit agreement if it has already been signed.
- Information related to the property: a land registry report is a useful document for checking the details.
- CIRBE (Central Credit Register of the Bank of Spain). This database contains information about all the guarantees, loans, credits and risks that financial institutions have undertaken with their customers, whether individuals or legal entities.
- If you are currently renting a property, you will need to supply the rental agreement and your latest rent receipts.
- Up-to-date employment history report ('informe de vida laboral').
- Recent bank statements. This is very valuable information because it will enable the bank to assess your financial situation.
In addition to these general documents, you will have to supply more specific documents related to your employment status:
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If you are an employee, the documents required are as follows:
- Employment contract.
- Last three pay slips.
- If you have additional income to your salary, the supporting documents that prove it.
- If you are currently repaying any loans, the relevant receipts.
If you are self-employed, you will need to supply the following documents:
- Annual VAT return.
- Quarterly VAT payments for the current year.
- Annual and fractional income tax return.
- Proof of your latest social security payments.
If the prospective borrow is a company, the following documents will be required:
- Tax return for the current year.
- Corporate tax return for the last financial year.
- Up-to-date statement of financial position for the company.
In addition to these documents, which most banks request, you may need to supply additional information depending on your particular case and the bank's risk criteria.