Hi everyone. Think I'm getting used to this now!!?? Can anyone answer this? Do you have to get life insurance if you arrange a Spanish mortgage to cover debt? We have been advised to get a mortgage and keep our cash in a sterling account at a higher interest rate running alongside of the mortgage at a lower interest rate. If the Spanish interest rate on debt rises over the British interest on monies saved in bank account then the debt can be paid off. In the meantime you can get the difference in interest.