Mortgages for
Foreign Buyers in Spain
Spain's major banks actively lend to non-residents. Everything you need to know about qualifying, documents, rates, and finding the right mortgage for your purchase.
Which Banks Lend to Non-Residents in Spain?
Five major Spanish banks are active in the non-resident mortgage market on the Costa del Sol. LTV and rates are indicative for 2025.
| Bank | Max LTV (Non-Resident) | Notes |
|---|---|---|
| BBVA | 60–70% | Active non-resident lender, English-speaking teams in Malaga branches |
| Santander | 60–70% | Strong presence in Costa del Sol, experienced with international buyers |
| CaixaBank | 60–65% | Good for off-plan transactions, will issue approval in principle early |
| Sabadell | 60–70% | Competitive rates, particularly strong for UK and Northern European buyers |
| Bankinter | 60% | Premium positioning, good for higher-value transactions |
What Banks Look for in Non-Resident Applicants
Income
Banks want to see that your total debt service (all loans, credit cards, mortgages) does not exceed 35–40% of your net monthly income. Spanish banks require income to be regular and documentable — salary, pension, or consistent self-employment income.
Employment Status
Employed applicants with permanent contracts are favoured. Self-employed applicants (autónomos or company directors) need to demonstrate consistent income over 2–3 years. Retirees with pension income are accepted by most banks.
Credit History
Spanish banks will check your credit history in your home country. Significant adverse credit (bankruptcy, defaults) within the past 6 years will prevent approval. Minor issues may reduce the LTV offered rather than preventing a mortgage entirely.
Liquidity
Beyond the deposit and purchase costs, banks look favourably on applicants who have liquid reserves equivalent to 6–12 months of mortgage payments. This demonstrates financial resilience and reduces the bank's perceived risk.
Mortgage FAQs
Spanish banks typically lend non-resident buyers up to 60–70% of the property's appraised value (not the purchase price). This means you need a minimum deposit of 30–40% of the purchase price, plus purchase costs of 13–15%. On a €500,000 property, you might borrow €325,000 (65%) and need approximately €240,000 in equity including costs.
Apply for a mortgage approval in principle (pre-approval) as early as possible in the process — ideally before you reserve a property. Pre-approval takes 2–4 weeks and tells you exactly how much you can borrow and at what rate. The formal mortgage offer (FEIN) is issued much closer to completion, at least 10 working days before the notary appointment.
Typically: passport, NIE certificate, last 2–3 years' tax returns (or P60 equivalents), last 3–6 months' payslips, last 3–6 months' bank statements, proof of employment or self-employment, details of existing mortgages and liabilities, and a copy of the reservation agreement. Self-employed buyers will need business accounts. A mortgage broker experienced with non-resident applications will provide a precise document checklist.
Both options are available. Fixed rates in Spain (as of 2025) range approximately 3.0–4.0% for non-residents on terms up to 25 years. Variable rates are based on Euribor plus a margin (typically Euribor + 0.9–1.5%). Given the current rate environment, most advisers recommend locking in a fixed rate for certainty — particularly for investment properties where the rental yield calculation depends on predictable financing costs. Discuss this with your mortgage broker.
Yes, and for non-resident buyers we strongly recommend it. A specialist Spanish mortgage broker who works with non-residents will know which banks are active and competitive in the current market, can present your application in the format each bank requires, has relationships that improve approval rates, and can often negotiate better margins than you would achieve applying directly. Broker fees are typically paid on completion and are often covered by the bank through cashback arrangements.
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Get Connected to a Specialist Spanish Mortgage Broker
We work with brokers who specialise in non-resident mortgages on the Costa del Sol. No cost, no obligation to proceed.