Can a non-resident get a mortgage in Spain?

The short answer is yes — non-residents can get a mortgage in Spain.

Spanish banks actively lend to international buyers, with dedicated products designed specifically for foreign purchasers.

However, borrowing conditions differ significantly from those offered to residents. Deposits are higher, documentation is more extensive, and approval criteria are stricter.

This guide explains exactly how non-resident mortgages in Spain work in 2026 — including deposit requirements, interest rates, eligibility, and how to improve your chances of approval.

What counts as a non-resident for mortgage purposes?

For mortgage purposes, a non-resident is anyone who spends fewer than 183 days per year in Spain or whose primary economic interests are based outside the country. This definition comes from Spanish tax law and is the standard banks apply when assessing a non-resident mortgage application.

EU citizens and non-EU citizens can both apply. The process is broadly the same, though EU buyers benefit from freer movement of capital and are generally subject to fewer compliance checks.

How much deposit will you need for a Spanish mortgage?

This is the most important practical difference between a resident and a non-resident mortgage in Spain. Spanish banks typically lend up to 80% of a property's assessed value to residents, but limit non-residents to 60–70% loan-to-value (LTV). In practice, this means a minimum deposit of 30–40% of the purchase price.

On top of this, you need to budget for purchase taxes and transaction costs — typically 10–12% of the purchase price depending on the region and whether the property is new or resale. As a non-resident buyer, your total upfront cash requirement is therefore approximately 40–52% of the property price.

Banks also apply a debt-to-income limit when assessing affordability. As a general rule, your total monthly debt obligations — including the new mortgage repayment — must not exceed 35–40% of your net monthly income. If you have existing loans, credit card commitments, or other financial obligations, these will be factored into this calculation and may reduce the amount a bank is willing to lend.

One important detail that catches many buyers off guard: the LTV is calculated against the lower of the purchase price or the bank's independent valuation of the property — not necessarily the price you have agreed to pay. If the bank values the property below the agreed purchase price, you will need to cover the difference yourself, in addition to your standard deposit. For this reason, it is worth getting an indicative valuation before committing to a purchase price.

A worked example:

For a property priced at €250,000:

• Mortgage at 70% LTV: the bank lends €175,000
• Your deposit: €75,000 (30%)
• Taxes and transaction costs at 11%: approximately €27,500
• Total cash required: approximately €102,500

For a full breakdown of taxes and fees, read our guide to expenses and taxes when buying property in Spain.

What are the current mortgage rates in Spain for non-residents?

Mortgage rates in Spain have fallen significantly since their peak in 2023, when the Euribor reached 4.16%. The Euribor stood at approximately 2.43% in January 2026 following a series of European Central Bank rate cuts through 2024 and 2025, making variable-rate mortgages more attractive than they have been for several years.

For non-residents in 2026, typical rates are:

• Fixed rate: 3–4% annually, depending on the lender, term, and your financial profile
• Variable rate: Euribor plus a bank margin of 0.5–1.2%, giving an effective rate of approximately 3–3.6% in early 2026
• Mixed rate: fixed for the first 3, 5, or 10 years, then switching to variable — a popular option for buyers who want short-term certainty

Rates for non-residents are generally slightly higher than for residents, reflecting the additional risk banks associate with overseas borrowers. Your exact rate will depend on the size of your deposit, the strength of your financial profile, and which bank you use. Most banks also offer rate reductions (bonificaciones) of up to 1% if you take out linked products such as home insurance or life insurance through them.

Mortgage terms for non-residents are typically 20–25 years, and most banks set a maximum borrower age of 70–75 at the end of the loan term.

If any of the mortgage terminology in this article is unfamiliar, our mortgage glossary for Spain explains the key terms clearly

Which banks offer non-resident mortgages in Spain?

Spain's five largest banks all have dedicated services for international buyers. For non-residents, these are the most straightforward starting points:

• Santander — non-resident mortgage with an online calculator and English-speaking support
• BBVA — fully digital application process, up to 70% LTV for non-residents
• CaixaBank — accepts documents in your own language for initial pre-approval, issues a viability study within 72 hours
• Bankinter — offers a mixed-rate mortgage specifically marketed to foreign buyers
• Banco Sabadell — publishes a dedicated guide for non-residents and offers English, French, and German service lines

Smaller regional banks and specialist mortgage brokers can also be competitive on rates, but the major banks above provide the clearest path to approval and the most experience handling foreign buyer documentation. Using a mortgage broker who specialises in non-resident purchases in Spain is worth considering — they can compare offers across lenders and manage documentation on your behalf, which is particularly useful if your paperwork is in another language.

In practice, approval criteria and risk appetite vary significantly between banks, which is why many non-resident buyers apply to multiple lenders simultaneously — often through a broker.

For more detail on which property types are eligible and how your age can affect your application, read our guide to securing your Spanish mortgage as a non-resident.

What documents will you need for a Spanish mortgage?

Spanish banks require extensive documentation to assess a non-resident mortgage application. All documents from outside Spain must be officially translated into Spanish by a certified translator and, in most cases, apostilled or legalised.

The standard documentation required for a Spanish mortgage includes:

• Valid Passport
• NIE (Número de Identidad de Extranjero) — Spain's tax identification number for foreign nationals, required for all property transactions. For a full explanation of how to obtain one, read our guide to the NIE in Spain
• Last two to three years' tax returns
• Three to six months' payslips or proof of income (for self-employed buyers: profit and loss accounts and business bank statements)
• Three to six months' personal bank statements
• Credit report from your country of residence
• Employment contract or proof of self-employment
• Details of any existing debts or financial commitments
• Property valuation report from a bank-approved appraiser
• Preliminary purchase agreement (contrato de arras) if already signed

You will also need a Spanish bank account, as mortgage repayments must be made from a Spanish account. Most major Spanish banks offer non-resident accounts. Services such as Wise or Revolut can be useful for managing currency exchange while the account is being set up.

While the documentation list is extensive, most banks follow a standardised process. Once prepared correctly, applications tend to move relatively smoothly.

What does the 2019 Mortgage Law mean for buyers?

The 2019 Spanish Mortgage Law made a significant change that many buyers are not aware of: it shifted the majority of mortgage-related legal costs from the buyer to the bank. Under the current law, the bank is responsible for notary fees, registration fees, and stamp duty (AJD) on the mortgage deed. The buyer is now only responsible for the property valuation fee (typically €300–€500) and, in some cases, an arrangement fee of 0–1.5% of the loan amount, depending on the lender.

This represents a meaningful reduction in upfront costs compared to what buyers faced before 2019 and is one reason why obtaining a mortgage in Spain has become more attractive for foreign buyers in recent years.

How long does the process take?

From submitting your initial application to completing at the notary, the process typically takes six to ten weeks, provided your documentation is complete and in order. Working with a mortgage broker or a bank with a dedicated non-resident team can reduce delays considerably.

The broad steps for getting a Spanish mortgage as a non-resident are:

1. Obtain your NIE and open a Spanish bank account
2. Gather and translate all required documentation
3. Submit your mortgage application — one or more banks simultaneously if using a broker
4. Receive a binding mortgage offer (FEIN — Ficha Europea de Información Normalizada), which the bank must issue at least ten days before signing
5. Independent legal review of the mortgage terms (mandatory under the 2019 law)
6. Sign the mortgage deed at a notary alongside the property purchase deed
7. Registration at the Land Registry

A note on the broader buying process

Securing a mortgage is one part of the buying process in Spain. If you are at an earlier stage of your search, our step-by-step guide to buying property in Spain as a foreigner covers the full process from property search to completion, including legal checks, the reservation contract, and what to expect at the notary.

For guidance on the different types of mortgage available — fixed, variable, and mixed — and how to choose between them, read our guide to fixed, variable, and mixed mortgages in Spain.