Can non-residents get a mortgage in Spain?
Yes. Non-resident foreign buyers can obtain a Spanish mortgage, typically up to 60–70% LTV. Major Spanish banks including Banco Sabadell, CaixaBank, BBVA, and Santander all offer non-resident mortgage products. You will need a NIE number, a Spanish bank account, and to pass the bank's income stress test.
- 1Non-residents can borrow up to 60–70% LTV in most cases
- 2Spanish variable rates in 2026: approximately Euribor (12m) + 0.8–1.2% margin
- 3Fixed 20-year rates: approximately 3.0–4.0% for well-qualified buyers
- 4Monthly repayments must not exceed 35–40% of your verified net income
- 5You need a NIE number and a Spanish bank account before the mortgage can proceed
- 6Non-EU buyers face stricter documentation requirements at most banks
- 7Allow 6–12 weeks for a mortgage decision from most Spanish lenders
Key Takeaways
- Get a mortgage in principle (AIP) before signing any reservation contract
- Total funds needed: 30–40% down payment plus 12–14% taxes and fees = 42–54% of purchase price in cash
- Use a specialist mortgage broker with Costa del Sol experience — access to lenders and rate negotiation
Spanish banks do lend to non-resident buyers, though on slightly more conservative terms than for residents. The maximum LTV for non-residents is typically 60–70% of the property's purchase price or bank valuation (whichever is lower). Monthly repayments must not exceed 35–40% of your verified net income. With Euribor having fallen significantly through 2024–2025, current mortgage terms are considerably more attractive than two years ago.
Which Spanish Banks Offer Non-Resident Mortgages?
The main lenders with established non-resident mortgage products on the Costa del Sol include Banco Sabadell (with a dedicated Sabadell International team in Marbella), CaixaBank, BBVA, Santander, and Bankinter. Sabadell in particular has a strong track record with UK, Northern European, and US buyers. We maintain relationships with mortgage advisors at all major lenders and can facilitate introductions for our clients.
LTV Ratios for Non-Residents
Standard non-resident LTV is 60–70% of the lower of purchase price or independent bank valuation. For off-plan purchases, the bank valuation is conducted at completion — not at reservation stage. If the completed property is independently valued lower than the purchase price (uncommon but possible), your LTV will be based on the lower figure, requiring additional equity.
Interest Rates in 2026
Euribor (12-month) peaked at around 4.2% in late 2023 and has since fallen to approximately 2.5% by early 2026 following ECB rate cuts. This makes variable-rate Spanish mortgages significantly more attractive than during 2022–2023. Fixed 20-year rates for well-qualified buyers are around 3.0–4.0% all-in. Mixed products — fixed for 5–10 years then variable — are popular with international buyers seeking certainty.
Documentation Required
Spanish banks require: 3–6 months of payslips or certified business accounts, last 2–3 years of tax returns, proof of existing assets and liabilities, NIE number, Spanish bank account details, and the property purchase documentation. Self-employed buyers need 2–3 years of certified accounts. Allow 6–12 weeks from initial application to receiving a binding mortgage offer.
Why This Matters in Costa del Sol
The Costa del Sol is one of the most internationally financed property markets in Europe. With Euribor having fallen substantially since its 2023 peak and Spanish banks actively seeking international business, 2026 presents particularly favourable financing conditions. Our team can make direct introductions to mortgage advisors at multiple lenders.
Common Mistakes to Avoid
A Swedish buyer purchases a €450,000 apartment in Nueva Andalucía. They qualify for 65% LTV = €292,500 mortgage. Required liquid funds: €157,500 equity + approximately €58,500 in taxes and fees (13%) = €216,000 in cash required at completion. Monthly repayment on €292,500 at 3.5% over 20 years ≈ €1,700.
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.
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