Can non-residents get a mortgage in Spain?

Yes. Spanish banks do offer mortgages to non-residents, though on less favourable terms than for Spanish residents. The key differences: maximum loan-to-value (LTV) is typically 60–70% (vs 80% for residents), interest rates may be slightly higher, and documentation requirements are more extensive. The major Spanish banks that regularly deal with non-resident mortgage applications include Banco Sabadell, BBVA, Santander, CaixaBank and Bankinter. Some international banks with Spanish operations (Deutsche Bank Spain, ING Spain) also offer non-resident mortgages.

What is the maximum mortgage a non-resident can get in Spain?

Most Spanish banks cap non-resident mortgages at 60–70% of the property's appraised value (valor de tasación). This means you need a deposit of 30–40% plus the purchase costs (taxes, notary, etc. — typically 10–12% of purchase price). For a €350,000 property, you would need approximately €105,000–140,000 as a deposit plus €35,000–42,000 for purchase costs — a total of around €140,000–182,000 in upfront funds.

What documents do I need for a non-resident mortgage in Spain?

Spanish banks typically require: NIE number (mandatory), Spanish bank account, 3–6 months of payslips or pension statements, 2–3 years of tax returns (from your home country), 3–6 months of bank statements, employment contract or proof of self-employment income, property appraisal (tasación, done by bank's approved appraiser), details of existing debts/mortgages, passport and proof of address. For non-EU buyers, all documents from outside Spain must be apostilled and officially translated into Spanish (certified translation).

How long does the mortgage process take in Spain?

The full process from initial application to completion typically takes 6–12 weeks. This includes: pre-approval (1–2 weeks), property appraisal/tasación (2–3 weeks), formal offer (FEIN — Ficha Europea de Información Normalizada) and binding offer (FIAE) (1–2 weeks), 10-day mandatory reflection period (required by Spanish law since 2019), notary appointment booking (1–2 weeks). The overall property purchase (from finding the property to signing at the notary) typically takes 2–4 months.

What are typical Spanish mortgage interest rates for non-residents in 2026?

In 2026, Spanish mortgage rates (Euribor-based variable mortgages or fixed rate) are influenced by ECB policy. Fixed rate mortgages for non-residents are typically 0.3–0.5 percentage points higher than for Spanish residents. As of mid-2026, non-resident fixed mortgages range from approximately 3.5–5.5% depending on the bank, the LTV, and the borrower's profile. Variable mortgages are typically Euribor + 0.5–1.5%. It is worth using a mortgage broker (brokers hipotecarios) who can negotiate better rates across multiple banks simultaneously.

Mortgage in Spain for Non-Residents [2026]

Buying property in Spain without needing a mortgage is ideal, but not always possible. Many expats on Costa del Sol finance part of their purchase through a Spanish bank. This guide explains exactly how non-resident mortgages work in Spain, which banks offer them, what documents you need, and what to expect during the process.

Can non-residents really get a Spanish mortgage?

Yes — but with different conditions than Spanish residents:

Feature	Spanish residents	Non-residents
Maximum LTV	Up to 80%	60–70%
Minimum deposit	20%	30–40%
Interest rate premium	Standard	+0.3–0.5% typical
Documentation	Simpler	More extensive
Process time	4–8 weeks	6–12 weeks

Best banks for non-resident mortgages in Spain

Banco Sabadell — Most experienced with international buyers

Sabadell has dedicated teams for international/non-resident clients and is consistently ranked as the most accessible Spanish bank for foreign buyers.

✓Maximum LTV: 70% for EU nationals, 60% for non-EU
✓Fixed rate 2026: ~3.8–4.8%
✓English-speaking mortgage advisors available
✓Branches in Marbella, Fuengirola, Málaga

BBVA — Large network, competitive rates

BBVA has a strong international presence and good experience with expat clients.

✓Maximum LTV: 60–70%
✓Fixed rate 2026: ~3.7–4.7%
✓Online pre-assessment available

Santander (Openbank) — Digital-first option

Openbank (Santander's digital arm) processes non-resident mortgage applications fully online and can be faster than traditional branch-based applications.

✓Maximum LTV: 60%
✓Fixed rate: competitive
✓Full digital process

Bankinter — Good for high earners

Bankinter often offers better conditions for higher-income non-residents.

✓Maximum LTV: 70%
✓Flexible repayment terms

Mortgage brokers (recomendado)

Using an independent mortgage broker (broker hipotecario) can save time and secure better rates by comparing offers from multiple banks simultaneously. Key brokers with non-resident expertise:

✓Trioteca — digital broker, good for non-residents
✓Housell/Hipoo — comparison platform
✓Local specialist brokers in Marbella, Fuengirola

Complete documentation checklist

For EU nationals (UK post-Brexit = non-EU):

✓[ ] NIE number (mandatory — cannot apply without it)
✓[ ] Spanish bank account (mandatory)
✓[ ] Valid passport
✓[ ] Proof of address in home country
✓[ ] Last 3 months payslips / pension statements
✓[ ] Last 2 years tax returns (from home country)
✓[ ] Last 3 months bank statements (showing income credits)
✓[ ] Employment contract (if employed)
✓[ ] Details of existing mortgages/debts

Additional requirements for non-EU buyers:

All the above PLUS:

✓[ ] Apostilled documents (from home country Ministry of Foreign Affairs)
✓[ ] Certified Spanish translation of all key documents
✓[ ] Proof of legal residency or visa type

The full timeline: from search to keys

Stage	Duration
Property search	2–8 weeks
NIE number	2–4 weeks
Open Spanish bank account	1–2 weeks
Mortgage pre-approval	1–2 weeks
Property found — reservation contract	Week 1
Property appraisal (tasación)	2–3 weeks
Formal mortgage offer (FEIN + FIAE)	1–2 weeks
Mandatory 10-day reflection period	10 days
Arras contract (10% deposit)	Week 8–10
Notary appointment + signing	1–2 weeks later
Total	~10–16 weeks

The mandatory 10-day reflection period

Since the Spanish Mortgage Law of 2019 (Ley Hipotecaria), Spanish banks must give borrowers a minimum of 10 days between receiving the binding offer and signing the mortgage at the notary. This protects buyers and allows for final review. You cannot waive this period.

Understanding the costs

What the bank pays (from 2019 Mortgage Law):

✓Property appraisal (tasación)
✓AJD (stamp duty on the mortgage deed)
✓Notary fees for the mortgage deed
✓Land Registry fees for the mortgage

What the buyer pays:

✓Deposit (30–40% of property value)
✓ITP 7% (resale) or IVA 10% + AJD 1.2% (new build)
✓Notary fees for the purchase deed (~0.5%)
✓Land Registry fees for the purchase (~0.4%)
✓Legal fees / gestión (~1%)
✓Total purchase costs: ~10–12% above purchase price

Worked example: €350,000 property in Fuengirola

Item	Cost
Property price	€350,000
Deposit (35%)	€122,500
Mortgage (65% LTV)	€227,500
ITP 7%	€24,500
Notary + Registry + Legal (~2%)	€7,000
Total cash needed upfront	€154,000
Monthly repayment (~4.5% fixed, 20yr)	~€1,440/month

IRNR (non-resident tax) implications

If you buy with a mortgage but do NOT become a Spanish tax resident, you must file the annual Modelo 210 IRNR return:

✓Tax base: 1.1% × cadastral value (if property not rented)
✓Rate: 19% (EU/EEA) or 24% (non-EU)
✓Important: You CANNOT deduct mortgage interest in the IRNR Modelo 210 for non-rented properties

If you rent the property out, you CAN deduct:

✓EU/EEA residents: ALL expenses (mortgage interest, community fees, insurance, repairs)
✓Non-EU residents: NO expenses deductible (gross rental income taxed at 24%)

This distinction makes EU residency significantly more tax-efficient for mortgage holders who also rent.

Getting your NIE before starting the mortgage process

A common mistake is starting the mortgage process without having a NIE. Spanish banks cannot process a mortgage application without a NIE number. Start the NIE process early — it can take 2–4 weeks and must be done before the bank can proceed.

Costa Expat arranges NIE appointments and prepares all mortgage-related documentation for property buyers on Costa del Sol. Our team coordinates the full purchase process — NIE, bank account, mortgage referrals, notary, and post-purchase IRNR registration.

Mortgage in Spain for Non-Residents [2026] — How to Buy with Financing