Advantages

The main advantage for taking out a mortgage in Spain is obviously the lower interest rates available (thanks to the Euro).

Taking a mortgage in Spain will also protect your assets back home.

A mortgage in Spain will also mean that you have a bank account in Euros which will allow you to set up direct-debits to pay your utilities.

There is also the possibility of a credit line that can be taken out against the property at any stage during the loan that could possibly help face any unexpected costs.