Do I need life insurance to get a mortgage?

If you are intending to buy property in Spain, whether it be a holiday home or you are contemplating to move permanently or acquire property as a buy-to-let investment, you will need to make sure you are eligible for a Spanish or overseas mortgage. You might also want to do some research to find out how much mortgage you can get as a non-resident. 

When you take a loan here, banks can offer you a number of additional services that might be worthwhile analysing. For example, mortgage or life insurance policies are widely available and can offer extra financial security when making a sizable investment like buying real estate. However, you should know that getting life insurance is not mandatory to be eligible for a loan, although some entities may include it in their conditions. These kinds of insurance policies vary substantially depending on the provider so browse around, and make sure you get the right one for you.