My wife and I are finally biting the bullet and buying a holiday home (to start) with the potential to move in a few years, we know Spain very well and have recently returned from a trip viewing properties, we found a beautiful property however we missed out by a day as it sold on the actual day we viewed it
We do have a cash balance from selling a company here in the UK so potentially didn’t need a mortgage however after viewing properties we found our needs changed and we now want a slightly larger property. This means that we might need a small mortgage of around 50,000Euro to top up our funds.
We have sourced a solicitor who will arrange our NIE and also spoke to a mortgage broker however after getting all our documents together we noticed that my wife has a couple of missed payments and an (8) default on her file from 2 years ago that we were not aware about, this default is only £200 so very annoying. It has been fully paid now but told it will stay on her file for another 4 years, she has also recently set up a new business so doesn’t have the 3 years tax returns. My file etc is absolutely fine so spoke to the broker who said as we’re married we have to apply for the mortgage together.
We will have around 75% deposit for the property but wondering if it is worth the hassle (and heartbreak) of finding a property and not having the mortgage approved because of my wife?
Sorry I have waffled a bit, just after some friendly advice
