Want to safely secure a mortgage in Spain?
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Opening a Spanish bank account
Before the crisis
The Spanish banking market was conducted by a range of saving banks (45 Cajas) and banks until about 2010 – 2011. Cajas were often smaller, local savings banks. These savings banks have grown enormously over the years and in particular the last 10 years before the crisis. This growth came from the demand for new homes and projects. The savings banks had done the utmost in this sector and had financed everything possible. When the real estate bubble burst in Spain, these savings banks got into very serious financial trouble.
The Spanish government has had to save a couple of savings banks, like Bankia and CAM, and forced them to merge. The healthy banks have merged with smaller savings banks and have ‘retrained’ themselves to bank, like CaixaBank. Resulting in the current situation:
After the crisis
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Through our years of experience with the financial sector, we have been able to establish a very good relationship with most of the Spanish banks. Still we do have our preferred banks. These are banks that are internationally oriented with multilingual staff.
It is of additional importance that Spanish banks understand complex mortgage files of our customers. This requires years of intensive cooperation. Following the crisis, WeCare Mortgages remains a reliable and important partner for the Spanish banks with very positive actual performance.
WeCare Mortgages assists with mortgages across Spain, including the islands like Ibiza, Mallorca and Tenerife. Our cooperative banks have a large network of branches and online user capabilities.
Through WeCare Mortgage you can take out a mortgage or open a Spanish bank account from distance.