Buying Guide · 11 min

Spanish Mortgage for Non-Residents: Complete Guide 2026

2 June 2026 · Hansson & Hertzell

Can you get a mortgage in Spain as a foreigner? Yes — and rates are competitive. Here's everything you need to know about Spanish mortgages for non-residents, from eligibility to process.

# Spanish Mortgage for Non-Residents: Complete Guide 2026

Financing a property purchase in Spain as a non-resident is entirely possible, and the Spanish mortgage market has become increasingly welcoming to international buyers. Interest rates, loan-to-value ratios, and the application process differ from what you might expect at home — here is a comprehensive breakdown of what to expect.

Can Non-Residents Get a Spanish Mortgage?

Yes. Spanish banks actively lend to non-residents, particularly from stable EU countries. The process is more involved than for residents, and the terms differ — but a mortgage is a viable route for many international buyers who do not want to commit their entire capital to a Spanish property.

The main difference is the loan-to-value (LTV) ratio. Spanish banks typically offer residents up to 80% LTV on primary residences. For non-residents purchasing a holiday or investment property, the standard is 60–70% LTV. This means you need to bring at least 30–40% of the purchase price as a down payment, plus the 10–13% in purchase costs (ITP, notary fees, etc.).

Interest Rates in 2026

Spain offers both fixed and variable-rate mortgages. In 2026, following the ECB's rate adjustment cycle, rates have stabilised at competitive levels:

• Fixed rates: Typically 3.0–4.5% over 20–25 years for non-residents
• Variable rates: Euribor + 0.5–1.5%, resetting annually

Fixed rates are popular with non-residents who want payment certainty, particularly those with euro income. Variable rates can be lower initially but carry interest rate risk.

Which Spanish Banks Lend to Non-Residents?

Not all Spanish banks actively court non-resident borrowers, but several do. The main ones with dedicated non-resident mortgage products are:

Sabadell International: Has the most developed non-resident mortgage proposition, with English-speaking teams and experience dealing with British, Scandinavian, and German buyers.

BBVA: Strong online process, good rates, experience with EU non-residents.

CaixaBank: Large network, competitive terms, particularly for higher-value properties.

Bankinter: Competitive rates, usually faster processing than the larger banks.

Unicaja: Strong in Andalucía and the eastern coast, reasonable non-resident terms.

What Documentation Do You Need?

Non-resident mortgage applications require significantly more documentation than resident applications. Banks want to understand your financial situation in your home country. Expect to provide:

• Valid passport and NIE
• Last 2–3 years of tax returns from your home country
• Last 3–6 months of payslips or proof of income (pension statements, dividend records)
• Last 3–6 months of bank statements
• Proof of employment or business ownership
• Details of existing properties and mortgages in your home country
• Details of the Spanish property you wish to purchase

All documents typically need to be translated into Spanish by a sworn translator (traductor jurado) and, for some documents, apostilled.

The Mortgage Process Step by Step

1. Pre-approval (pre-aprobación): Submit your documentation for an initial assessment. This takes 2–4 weeks and tells you your maximum borrowing capacity without committing either party.

1. Property valuation (tasación): Once you have found a property, the bank commissions a valuation by an approved appraisal firm (sociedad de tasación). The mortgage will be based on the lower of the purchase price and the valuation.

1. Formal mortgage offer: The bank issues a FEIN (Ficha Europea de Información Normalizada) — a binding European standard mortgage offer document. You have 10 days to review it.

1. Notary appointment: Spanish law requires a mandatory notary appointment at least one day before signing the mortgage deed. The notary must verify that you understood the terms.

1. Signing (escritura de hipoteca): Mortgage deed and property deed are signed simultaneously at the notary.

Costs of a Spanish Mortgage

Setting up a mortgage in Spain involves additional costs beyond the purchase itself:

• Mortgage origination fee (comisión de apertura): 0–1% of the loan amount (since 2019 reform, many banks have eliminated this)
• Property valuation: €300–€600
• Mortgage stamp duty (AJD): Since the 2019 mortgage law reform, this is now paid by the bank, not the buyer
• Early repayment fees: Capped by law at 0.25% in first 3 years for fixed mortgages; prohibited for variable after year 3

Currency Risk

If your income is in a currency other than euros (e.g., GBP, SEK, NOK), you face currency risk on a euro mortgage. Your monthly payment in your home currency will fluctuate with the exchange rate. Some buyers mitigate this by hedging, others accept it as part of the exposure to Spanish property.

Alternatives to a Bank Mortgage

If a Spanish mortgage proves difficult or impractical, alternatives include:

• Remortgaging your UK/Swedish/Dutch property: Release equity from your home-country property to fund the Spanish purchase in cash
• Developer financing: Some Spanish developers offer staged payment plans for new-build purchases
• International mortgage brokers: Specialists like Simon Conn, Conti Mortgages, or Spanish Property Insight's recommended brokers can access multiple lenders and simplify the process

Our Recommendation

For most non-residents buying on the Costa Blanca, we recommend getting mortgage pre-approval in parallel with your property search — not after you have found a property. The pre-approval process takes time and knowing your budget ceiling before you fall in love with a property saves disappointment.