Spanish Mortgage for Non-Residents

Yes – you can get a Spanish mortgage as a non-resident. Spanish banks lend to foreign buyers, but they are more cautious than with residents: they usually finance a smaller share of the property's value (typically up to 60–70%), so you will need more savings and well-documented income. The process is governed by Law 5/2019: you receive the binding loan documents at least 10 days before signing, and you meet a notary, free of charge, before you sign.

This guide explains how a non-resident mortgage in Spain works in practice, as of October 2026. We do not quote interest rates or bank offers: they change often and depend on your circumstances.

Can foreigners get a mortgage in Spain?

Yes. In its guide for non-residents, Banco Sabadell says the process is very similar to a standard mortgage. You are treated as a non-resident if you spend fewer than 183 days a year in Spain. A mortgage in Spain for foreigners can be fixed, variable or mixed – exactly as for residents.

The differences come down to three things: a lower maximum loan, often a shorter term and – as Sabadell points out – possibly a higher interest rate, because the borrower is not tax resident in Spain. The bank assesses affordability based on your income and commitments in your home country. According to Sabadell, the monthly payment should generally not exceed around 30% of income, and the loan should be repaid before the borrower turns 75.

How much deposit do you need? LTV for non-residents

LTV (loan-to-value) is the loan amount as a percentage of the property's value. Spanish banks calculate it on the lower of two figures: the purchase price or the bank's valuation (tasación).

Residents: Sabadell states that on a standard mortgage the bank may lend up to 80% of the value.
Non-residents: according to Sabadell, the limit is "usually lower". CaixaBank's HolaBank programme for non-residents lends up to 70% of the property's value.
The market: Spanish mortgage broker iAhorro describes typical non-resident financing as 60% or 70% of the value.

On top of the deposit come the purchase costs: transfer tax or VAT, notary and land registry fees for the purchase deed. CaixaBank estimates these at around 12–15% of the value and concludes that a non-resident should have around 42–45% of the property's value in their own funds. It is one bank's example, not a rule. If you are buying off-plan (see our new developments), check the developer's payment schedule too – some stage payments usually have to come from savings before the bank releases the loan.

Documents for a non-resident mortgage in Spain

Every bank has its own checklist, but non-resident applicants are usually asked for:

a passport and your NIE (Número de Identidad de Extranjero) – the foreigner identification number you need to buy property and sign the mortgage;
a certificate of tax residence from the country where you pay tax;
proof of income: employment contract and recent payslips, or business accounts if you are self-employed;
tax returns for recent years;
bank statements for recent months showing income and regular outgoings;
a credit report from your country of residence, plus details of any existing loans and credit cards;
property documents: the reservation or private purchase contract and a land registry extract (nota simple).

The bank may ask for sworn translations or an apostille, so ask early. A Spanish bank account also helps: Sabadell notes that it is not compulsory but makes the purchase and monthly payments easier.

Fixed or variable rate? The role of Euríbor

The Banco de España describes three types of mortgage:

fixed – the rate and payment stay the same for the whole term; in return, the starting rate tends to be higher and the term shorter;
variable – the rate is a reference index plus a fixed bank margin (for example "Euríbor + margin"), usually reviewed once or twice a year;
mixed – a fixed rate for the first years, then variable.

Euríbor reflects what it costs eurozone banks to fund themselves, and 12-month Euríbor is the index most commonly used in Spanish mortgages. We do not quote its current level here – the Banco de España publishes the official figures every month. If you earn in pounds or another currency, remember the exchange-rate risk: your payment is in euros, your income is not.

Mortgage costs – who pays what under Law 5/2019

Spain's real estate credit law (Ley 5/2019, reguladora de los contratos de crédito inmobiliario) splits the costs between the lender and the borrower:

the borrower pays for the property valuation (tasación) and for any copies of the deed they request;
the lender pays the notary fees for the mortgage deed, the land registry fees for registering the mortgage and the gestoría (administrative agent);
the lender also pays the stamp duty (AJD) on the mortgage deed – since November 2018 the lender has been the taxpayer (Real Decreto-ley 17/2018).

Some costs still fall on you alongside the loan: buildings insurance (CaixaBank lists it as a customer cost), any bank arrangement fee and translations. The bank must list every fee in the FEIN, so compare offers on that basis. The costs of the purchase itself are separate; we cover them in our guide to buying property in Spain.

How long does it take?

The law sets a minimum. The bank must give you the FEIN (European Standardised Information Sheet), the FiAE (a warnings sheet on key clauses), the draft contract and a breakdown of costs at least 10 calendar days before signing. By the day before signing at the latest, you meet a notary of your choice, who checks you received the documents, explains the contract and draws up a record (acta de transparencia) at no charge to you.

An initial answer can be quick – CaixaBank says online applications get a response within 72 hours – but with documents, translations and the valuation, the whole process usually takes several weeks. Leave some slack in your reservation contract.

Buying with a mortgage, step by step

Step	What happens	Who
1. Budget	Work out deposit, purchase costs and payment versus income; gather documents	You (we help you organise the list)
2. NIE and account	Apply for the NIE, open a Spanish bank account (recommended)	You, the authorities or consulate, the bank
3. Choose and reserve	Viewings, nota simple check, reservation contract with realistic dates	You, the seller or developer, the agency, a lawyer
4. Application	The bank assesses affordability and may issue pre-contract information (FIPRE)	You, the bank
5. Valuation	A valuer appraises the property; LTV uses the lower figure	Valuation company (you pay)
6. Binding offer	The bank issues the FEIN, FiAE and draft contract – at least 10 days before signing	The bank
7. Notary meeting	Free explanation of the contract and acta de transparencia, by the day before signing	You, the notary
8. Completion	Purchase deed and mortgage deed at the notary, usually the same day; the bank releases funds	You, the seller, the bank, the notary
9. After completion	Land registry entries and payment of purchase taxes	Gestoría or lawyer

How we help

Costa Paradise Estate is a Polish-run estate agency in Fuengirola. We are not a bank and we do not arrange loans ourselves. We help you prepare for financing and guide you through the process: setting a realistic budget, getting your documents together, choosing a property that can be financed and coordinating the dates for the reservation, valuation and completion. We work in English, Polish and Spanish. The whole purchase is explained step by step in our free e-book.

Frequently asked questions

Can a non-resident get a mortgage in Spain?

Yes. Spanish banks lend to non-residents, including UK and other non-EU buyers. They will check your income and credit history in your home country, and the maximum loan is usually lower than for residents.

How much deposit does a non-resident need?

With financing of 60–70% of the value, the deposit is 30–40%, plus purchase costs. CaixaBank estimates that a non-resident needs around 42–45% of the property's value in total.

Can I repay from income in pounds or another currency?

It depends on the bank. Some accept non-euro income but may shorten the term – CaixaBank offers up to 20 years for income in euros and several listed currencies, including sterling, and 15 years for other accepted currencies.

Who pays the notary on a Spanish mortgage?

The lender pays the notary for the mortgage deed. You pay for the valuation and any copies you request. The purchase deed and purchase taxes are separate costs for the buyer.

What is the FEIN?

The European Standardised Information Sheet sets out the full loan terms: amount, term, interest rate, fees and example payments. The bank must give it to you at least 10 days before signing.

Let's talk about financing your purchase

Planning to buy with a Spanish mortgage? Tell us about your budget and situation and we will help you map out a plan before you reserve a property. Get in touch.