Currency
Mortgages are usually arranged in the currency in which you receive your income, in Spain, that would habitually be in euro. However, you can also arrange a foreign-currency mortgage.
If you are considering a foreign currency mortgage, bear in mind that instalments will vary depending, not only on interest rates but also on the exchange rate of the currency in which the mortgage is denominated. These variations may be significant.
If the currency in which the mortgage is denominated strengthens against the euro, your instalments in euro will increase to the same extent. Our advice is to assess this risk and think carefully about whether you can afford it and whether it is worth it.
Find out more about foreign currency mortgages, see Multi-currency mortgages
FREQUENTLY ASKED QUESTIONS
Rounding a mortgage interest rate
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Can my bank service other debts with the money deposited to pay my mortgage instalment?
Read answeraboutCan my bank service other debts with the money deposited to pay my mortgage instalment?