How Can a Foreigner Get a Mortgage in Spain?
Foreign buyers can get a mortgage in Spain, provided the property they want to mortgage is located in Spain, whether they are EU citizens, non-EU citizens, residents, or non-residents. Spanish banks have long-standing, dedicated products for international clients — but they assess a non-resident file differently from a resident one, and it helps to know the terms before you start comparing offers.
How much a bank will lend you
Residents can typically borrow up to 80% of a property’s value. As a non-resident, expect a ceiling of 60% to 70% loan-to-value (LTV), calculated on whichever is lower: the agreed purchase price or the bank’s own valuation. In practice, this means the remaining 30–40% has to come from your own funds, not counting purchase costs.
Current interest rates
- Fixed rate: roughly 1.85%–2.6% over 15–25 years. This has become the more common choice since 2022–2024, valued for payment certainty.
- Variable rate: Euribor plus a margin of around 1.0%–1.5%, which currently works out close to 2.5%–3.5%.
- Mixed rate: fixed for the first 3–10 years, then variable — a middle ground some non-residents use to lock in early certainty.
Documents banks usually ask for
- Valid passport and your NIE (Número de Identificación de Extranjero) — mandatory before any application can move forward
- Proof of income: recent payslips, employment contract, or company accounts if self-employed
- Tax returns from your country of residence for the last financial year
- Bank statements from the last 3–6 months and a summary of existing debts
- A property reservation agreement and the bank’s valuation report
Documents issued outside Spain generally need a certified translation, and some countries require an apostille. Building this paperwork early is one of the biggest time-savers in the process.
Final terms always depend on your country of residence, income stability, currency, and overall financial profile, so it’s worth getting more than one pre-approval before you commit.