In Spain, you can request various types of loans, such as personal loans, mortgage loans, car loans, business loans and student loans. Each one has different requirements and conditions, so it is important to understand which one best fits your needs.

To apply for a loan, you must generally be between 18 and 75 years old and resident in Spain. They will also ask you to prove that you have stable income, and you will be provided with nominas, pension or income for your own money. Furthermore, banking entities will review your credit history to ensure that you are a good payer.

You can request a loan in several ways: online through the website of a bank or financial entity, in person at a workshop, or even through intermediaries such as loan runners. The fastest and most comfortable option can be done online.

The most common documents that you will be asked for are your identification (NIE if you are abroad or DNI if you are a Spanish citizen), income tests (such as last notes, bank statements or tax declarations) and your address check, such as a supply invoice or the rental contract. If you are working, it is also possible that you will be asked for your employment contract.

The approval time varies depending on the entity and the type of loan you request. Personal loans can be approved in a few hours or days, while mortgages may take longer due to an exhaustive review of your financial situation.

Your credit history is one of the most important factors, but your income, job stability and your relationship between income and income are also considered. If you have a clean track record and a stable income source, your chances of approval increase.

It depends on the type of loan you apply for. For small personal loans, a guarantor is not necessary, but if you ask for a large amount or a mortgage, financial entities may ask you for a guarantor or some form of guarantee, such as property.

Yes, foreigners can request loans in Spain, as long as they have a valid NIE and can demonstrate sufficient income. Some banks may be more strict with non-residents, but there are several options available for those living in the country.

If you can't make a payment, it's best to communicate it to your financial entity as soon as possible. Otherwise, you could face penalties, additional interest and, in serious cases, affect your credit history or even take legal action. Many banks allow you to restructure payments in case of difficulties.

To improve your approval possibilities, it is important to maintain a good credit history, reduce outstanding debts and ensure that your income is stable and sufficient to cover the requested loan. It can also be useful to have a solid relationship with your bank, as this can facilitate the process.