Spanish Mortgages for Non-Residents — Expert Guidance

Yes, non-residents can get mortgages in Spain. The process is different from the UK or Germany, the paperwork is heavier, and the loan-to-value ratios are lower — but Spanish banks actively lend to international buyers. If you are purchasing on the Costa del Sol and prefer not to tie up all your capital in one asset, a Spanish mortgage can make financial sense even if you have the cash to buy outright.

Key Numbers for Non-Resident Mortgages

• Loan-to-value (LTV): 60-70% for non-residents (vs 80% for residents)
• Interest rates: 3-4% fixed, 2.5-3.5% variable (Euribor + spread) in 2026
• Term: up to 25 years, typically ending before age 75
• Minimum loan: €100,000-€150,000 depending on bank
• Maximum age: most banks require the mortgage to end before you turn 70-75

Which Banks Lend to Non-Residents?

The major Spanish banks all have non-resident mortgage products, but terms and appetite vary significantly:

• CaixaBank: Spain’s largest bank. Most active in non-resident lending. Good English-language service in Marbella branches. Typically 60% LTV.
• Banco Sabadell: Strong on the Costa del Sol. Competitive fixed rates. 60-65% LTV. Faster processing than some competitors.
• Santander: International network makes income verification easier for UK/European buyers. 60% LTV standard.
• Bankinter: Targets higher-value properties. Can offer 70% LTV for strong applications. Premium service.

The Mortgage Process Step by Step

1. Pre-Approval (FEIN)

Before you start viewing properties, get a mortgage pre-approval. This tells you exactly how much a bank will lend, at what rate, and under what conditions. The bank issues a FEIN (Ficha Europea de Información Normalizada) — a standardised European information sheet. This is not binding but gives you a firm indication. Timeline: 1-2 weeks.

2. Property Valuation (Tasación)

Once you have found a property, the bank commissions an independent valuation (tasación). This is a regulatory requirement — the bank cannot lend based on the purchase price alone. The valuation typically costs €300-€500 and takes 1-2 weeks. The bank will lend based on the lower of the purchase price or the valuation.

3. Full Application

Submit full documentation: passport, NIE number, proof of income (3 months payslips or 2 years tax returns for self-employed), bank statements (6-12 months), credit report from your home country, employment contract, and details of existing debts. Timeline: 2-4 weeks for approval.

4. Mortgage Offer

If approved, the bank issues a binding offer. Under Spanish law, you must have a minimum 10-day reflection period before signing. During this period, you can also visit the notary for a free pre-signing consultation to ensure you understand the terms.

5. Notary Signing

The mortgage deed is signed at the notary simultaneously with the purchase deed. The bank releases funds directly to the seller. Total timeline from pre-approval to completion: 6-10 weeks.

Mortgage Costs

• Arrangement fee: 0.5-1% of the loan amount
• Valuation (tasación): €300-€500
• Notary fees: €500-€1,500 (for the mortgage deed)
• AJD (stamp duty on mortgage): paid by the bank since 2019 reform
• Broker fee (if used): 0.5-1% of loan amount or fixed fee €2,000-€5,000

For a full breakdown of all purchase costs, see our buying costs guide.

Fixed vs Variable in 2026

Fixed rates in Spain currently sit around 3-4%. Variable rates are Euribor plus a spread of 1-1.5%, giving an effective rate of 2.5-3.5%. After the rate volatility of 2023-2024, most of our clients are choosing fixed rates for the certainty. The premium over variable is modest, and budgeting is simpler when your monthly payment never changes.

How We Help

We introduce qualified mortgage brokers who specialise in non-resident lending on the Costa del Sol. They have relationships with all the major banks and can secure better terms than walking into a branch. We also coordinate the mortgage timeline with the purchase timeline — ensuring the valuation, approval, and notary appointment all align so nothing delays completion.

Frequently Asked Questions