Build up your knowledge by using our mortgage glossary, here to help you understand the sometimes confusing terms used to describe mortgages and other financial related products. We have laid out our glossary in an easy to use A-Z Format. If you have any additions you would like to see, please feel free to contact us with your ideas.

N
NIE ( Foreigners identification number). Every foreigner must have this in order to enter into a legal transaction in Spain

Notario ( Notary) The Notary acts as the public official when signing the public deeds, such as the sales or mortgage loan agreement. He is obliged to ensure that current legislation is fulfilled and to defend the interests of the parties, particularly the borrower’s interests.

Novacion ( novation ) Change to the terms of a financial agreement