Spanish banks lend to non-residents routinely — but on different terms to residents. Here’s what to expect.
How much you can borrow
Non-residents are typically offered up to 60–70% of the lower of price or bank valuation. Residents can reach 80%. So plan to fund the remaining 30–40% plus all purchase costs from your own funds.
Rates and type
Spanish mortgages come as fixed, variable (tracking Euribor) or mixed. Fixed rates give certainty and are popular with foreign buyers. Terms commonly run to age 70–75.
What it costs
Budget roughly 1–1.5% of the loan for valuation, arrangement and associated costs, on top of your normal purchase fees.
What banks want to see
- Passport and NIE
- Proof of income (payslips, tax returns, or accountant’s letter if self-employed)
- Bank statements and an overview of existing assets and debts
- A clean credit profile in your home country
Banks generally want your total debt servicing to stay within ~30–35% of net income.
Effect on your timeline
A mortgage adds time. Where a cash purchase can complete in 4–8 weeks, allow 8–12 weeks with financing, as valuation and underwriting run in parallel with the legal work. Get an agreement in principle early so it doesn’t hold up completion.
A tip
It’s worth comparing a Spanish mortgage against releasing equity at home — sometimes the cheaper, faster route is to buy as a cash buyer here and refinance later. Take independent financial advice.
When you send us your brief, tell us whether you’re financing — it changes the timeline and we’ll plan around it.
General guidance, not legal or tax advice — always engage an independent Spanish lawyer (abogado) and tax adviser for your specific purchase.