Mortgages and FinanceUpdated 27 March 2026

Can Foreigners Get a Mortgage in Spain?

Quick Answer

Yes, foreigners can get a mortgage in Spain. Non-resident buyers can typically borrow 60% to 70% of the property purchase price or valuation from Spanish banks.

AI Summary

1Non-resident buyers can borrow 60% to 70% of the property value from Spanish banks
2You need proof of income, credit history and financial documents
3The mortgage is based on the lower of purchase price or bank valuation
4Processing takes 4 to 8 weeks from application to approval
5Spanish mortgage brokers specialising in foreign buyers can access better terms

Key Takeaways

Spanish mortgages are accessible to non-residents
60-70% LTV is typical for non-resident buyers
Mortgage process takes 4-8 weeks for approval
Use a specialist broker to get the best terms

Yes, Spanish banks lend to foreign buyers. Non-resident buyers can typically borrow 60% to 70% of the lower of the purchase price or the bank valuation. The application process requires proof of income, credit history, bank statements and property details. Processing takes 4 to 8 weeks. Interest rates, fees and criteria vary between lenders, so using a mortgage broker specialising in non-resident Spanish mortgages is recommended.

What mortgages are available to foreign buyers?

Spanish banks offer both variable rate and fixed rate mortgages to non-resident foreign buyers. The main lenders actively serving foreign buyers in Costa del Sol include Unicaja, Sabadell, CaixaBank, Santander, BBVA and several international banks. Rates, fees and criteria differ significantly between lenders which is why using a specialist mortgage broker is strongly recommended.

How much can I borrow?

Non-resident buyers are typically limited to 60% to 70% of the lower of the purchase price or the bank valuation. This means you need a minimum 30% to 40% deposit plus buying costs. Some lenders offer slightly higher LTVs for very strong financial profiles. Resident buyers can access up to 80% LTV in some cases.

What documents are required?

Typical requirements include: last 2 years tax returns, last 3 to 6 months payslips or accounts, last 3 to 6 months bank statements, credit reference from your home country, employment contract or proof of self-employment income, valid passport and NIE number, and details of the property including a signed reservation agreement.

When should I apply for a mortgage?

For an off-plan purchase it is strongly recommended to obtain mortgage pre-approval before signing the Private Purchase Contract. This confirms you can access the finance needed and prevents a situation where you are committed to a large deposit but cannot secure a mortgage at completion. Formal mortgage approval for an off-plan property is typically obtained 4 to 8 weeks before the completion date.

Why This Matters in Costa del Sol

The Costa del Sol mortgage market is well-developed for foreign buyers. Competition between lenders for the significant international buyer market means rates and terms have become increasingly competitive. Using a specialist broker with relationships with multiple Spanish lenders consistently delivers better outcomes than approaching banks directly.

Common Mistakes to Avoid

Applying for a mortgage without a specialist broker

The non-resident mortgage market in Spain is complex with significant variation between lenders. Use a specialist broker to identify the best product for your profile.

Not getting pre-approval before signing the PPC

Securing mortgage pre-approval before committing to a significant deposit de-risks your entire purchase. Make this a priority before signing the Private Purchase Contract.

Underestimating mortgage costs

Mortgage arrangement fees, valuation costs and mortgage deed costs add to your total expenditure. Include these in your total buying cost calculation.

Real-World Example

A UK buyer applied for a mortgage on a 380,000 euro apartment in Estepona. They used a specialist non-resident mortgage broker who approached four Spanish lenders simultaneously. The best offer was a 10-year fixed rate at 3.8% on a 70% LTV. The formal mortgage approval was in place 6 weeks before the completion date giving the buyer confidence throughout the construction period.

This answer is for general information only and does not constitute financial advice. Mortgage availability and terms depend on individual circumstances. Always take independent financial advice.