Can non-residents get a mortgage in Spain?

Yes, non-residents can obtain a mortgage in Spain. Spanish banks do offer mortgages to foreign nationals who do not have Spanish residency. However, the terms are typically less favourable than for residents: non-residents are generally limited to financing up to 60-70% of the purchase price (compared to up to 80% for residents), and you will need to demonstrate income from your home country.

What is the maximum loan-to-value (LTV) for non-residents?

Most Spanish banks cap non-resident mortgages at 60-70% of the property's appraised value (LTV). This means you must have at least 30-40% of the purchase price available as a down payment, plus an additional 12-14% to cover taxes and buying costs (ITP, notary, registry, gestoria).

What documents do I need to apply for a Spanish mortgage?

You will typically need: a valid passport, your NIE (Número de Identificación de Extranjero — Spanish tax identification number for foreigners), the last 2-3 years' tax returns from your home country, the last 3-6 months' bank statements, proof of income (payslips if employed, accounts if self-employed), and details of any existing debts or mortgages. Spanish banks may also request a property valuation report (tasación).

What is an NIE and do I need one to buy property in Spain?

An NIE (Número de Identificación de Extranjero) is a tax identification number issued to foreigners by the Spanish government. It is required for any significant financial transaction in Spain, including buying property and applying for a mortgage. You can apply for an NIE at a Spanish consulate in your home country or at a Spanish police station (comisaría) once you arrive in Spain. The process takes a few weeks, so apply early.

Which Spanish banks offer mortgages to non-residents?

Major Spanish banks including Santander, BBVA, CaixaBank, Sabadell and Bankinter all offer mortgage products for non-residents, though terms and eligibility criteria vary. Some international banks with a Spanish presence may also be an option. It is advisable to compare offers from at least 3-4 banks or work with an independent mortgage broker (intermediario de crédito inmobiliario) who can access multiple lenders.

Should I choose a fixed or variable rate mortgage?

With Euribor at approximately 2.75% in early 2026 (down from above 4% in 2023), both options have merit. Fixed rates provide payment certainty, which many international buyers prefer given that they may not be closely monitoring Spanish economic news. Variable rates (Euribor + spread) are currently more competitive but carry interest rate risk. Your choice should depend on your risk tolerance and how long you plan to hold the property.

Financing9 min readUpdated May 2026

Mortgages in Spain for Foreign Buyers: 2025 Guide

Yes, foreigners can get a Spanish mortgage. Non-residents are typically limited to financing up to 70% of the purchase price. Here is everything you need to know about requirements, banks and the step-by-step process.

Key numbers for non-resident buyers

60-70%

Maximum LTV for non-residents

30-40%

Minimum deposit required

12-14%

Additional buying costs

~2.75%

Euribor 12-month (Apr 2026)

What you need to apply

Spanish banks have specific requirements for non-resident mortgage applicants. The process takes longer than in many other countries — typically 4-8 weeks from application to approval. Preparing your documentation in advance is essential.

Valid passport

Required for identity verification throughout the buying process.

NIE number

Spanish tax ID for foreigners. Apply at a Spanish consulate or police station.

Proof of income

2-3 years tax returns plus recent bank statements from your home country.

Down payment: 30-40%

Non-residents need at least 30-40% of purchase price as a deposit.

Buying costs budget

Additional 12-14% of purchase price for taxes, notary and registry fees.

Property valuation

Banks require an official tasación (appraisal) before approving the loan.

The mortgage process step by step

Obtain your NIE number

Your NIE is required before any property transaction. Apply at a Spanish consulate in your home country or at a comisaría once in Spain. Allow 4-6 weeks.

Open a Spanish bank account

Most banks require a Spanish bank account for mortgage payments. This can be done in person at a branch, and some banks allow non-residents to open accounts remotely.

Get a mortgage pre-approval

Submit your income documentation to 2-3 banks for a preliminary assessment. This is not binding but tells you how much you can borrow.

Find your property and sign a reservation

Once you identify a property, sign a reservation contract (contrato de arras) and pay a deposit (typically 10%). Your purchase is now proceeding.

Property valuation (tasación)

The bank orders an official appraisal by a certified valuer. The mortgage amount is based on the lower of the purchase price or appraisal value.

Sign at the notary

The mortgage and property deed are signed simultaneously before a notary (notario). The bank transfers funds directly to the seller. You receive the keys.

Fixed vs variable: which should you choose?

With Euribor at 2.75% in April 2026, fixed rates are competitive at around 3.2-3.8% for non-residents, depending on the bank and loan term. Variable rates are typically Euribor + 0.5-1%, which currently results in monthly payments lower than fixed, but with the risk of rising if Euribor increases.

For international buyers who prefer payment predictability and may not track Spanish economic news closely, a fixed-rate mortgage is often the safer choice.

Planning your buying costs? See our full breakdown of all fees, taxes and expenses:

Total Costs of Buying Property in Catalonia 2025 →

Frequently Asked Questions

Need help navigating Spanish mortgages?

camiacasa works with buyers from across Europe and beyond. We can guide you through the mortgage process and connect you with the right bank contacts.

Contact via WhatsApp