Non-Resident Mortgage in Spain: requirements, financing and bank conditions

Yes. Non-residents can apply for a mortgage in Spain, although banks typically apply stricter criteria. They will closely examine your foreign income, employment stability, country of residence, and the traceability of your funds.

It depends on your profile and the bank. The banks that publish their conditions for non-residents on their own websites offer up to 70% of the appraised value (60% at some banks or with income in another currency), compared to the standard 80% for residents. Your income, currency, country of origin, and intended use of the property all play a role.

Typically through payslips, employment contracts, tax returns, and bank statements from your country of residence. In some cases, sworn translations or additional certificates may be required to validate the documentation.

Yes. The intended use of the property affects the bank's assessment, and an investment purchase may be assessed more conservatively than a second home, particularly regarding risk evaluation and loan-to-value ratios. Ask each bank for its conditions for your specific use.

Resale property: Transfer Tax (ITP) at 4%-13% depending on the region. New-build: VAT at 10% (IGIC at 7% in the Canary Islands) plus Stamp Duty (AJD) at 0%-1.5% depending on the region. Additionally: notary fees, land registry, valuation and gestoria. For a non-resident, total costs usually represent 12%-15% of the purchase price: a resident's purchase costs plus a lawyer, sworn translations and the NIE; it is the figure CaixaBank (HolaBank) publishes for its non-resident mortgage.

Yes. The NIE (Numero de Identidad de Extranjero) is mandatory for both the property purchase and the mortgage application. It is advisable to obtain it well in advance at the Spanish consulate in your country of residence or at an immigration office in Spain.

Common errors include: underestimating purchase costs (taxes + notary + agency), failing to properly justify the origin of funds, assuming a resident's financing (requesting 80% when the banks publish up to 70% for non-residents, and 60% at some of them), submitting incomplete documentation, and not factoring in currency risk if your income is not in euros.

In our experience, 3 to 6 weeks from the moment we have your complete documents to signing (not an official figure or a guarantee). Before that, it depends on how quickly you obtain the NIE, your country of origin and the stage of the property transaction. The only period set by law is the reflection period: the bank must give you the FEIN and the draft contract at least 10 calendar days before signing (Law 5/2019, art. 14). Ask each bank for its current turnaround time in writing.

According to their own websites (checked in September 2026), the banks offering mortgages to non-residents are CaixaBank (HolaBank), Bankinter, Banca March, UCI, Banco Santander and Banco Sabadell. Only CaixaBank publishes its rates for this profile; the others quote case by case. BBVA, ING and Openbank say their mortgages are for residents only. You can also work with a licensed mortgage broker like hipotecas.me (registered with the Bank of Spain, E569), which submits your application to several lenders. Conditions vary depending on the profile.

Yes, but you will need your NIE, passport, and a certificate of non-residence in Spain. Not all banks offer the same process for remote account opening. It is best to contact the bank directly or work through an authorised intermediary.

What banks publish depends on the country and currency of your income, not on your passport. Income in euros avoids exchange-rate risk; with income in another currency, Banca March lowers its financing from 70% to 60%, and CaixaBank's HolaBank takes online applications only from 15 Western European countries, the US and Canada. Public documents from outside the EU usually need an apostille (Hague Convention) or legalisation, plus a sworn translation.

No law makes it compulsory, but the bank may require an insurance policy that guarantees repayment, as well as damage insurance on the mortgaged property. In both cases it must accept an equivalent policy from another insurer, without charging you for reviewing it (Law 5/2019, art. 17.3). Taking the bank's own policy is usually offered as a discount on the rate.

Not for buying the home: the Spanish main-residence deduction was abolished for purchases from 1 January 2013 (Law 16/2012) and was only for tax residents. If you rent the property out and live in another EU or EEA state, you can deduct the expenses linked to the rental, including the mortgage interest, from that income under Non-Resident Income Tax (IRNR Law, art. 24.6). Your country of residence may have its own rules: consult an international tax adviser.

The bank evaluates the exchange rate risk, and it shows in what the banks publish: Banca March finances up to 60% instead of 70% with income in another currency, and Bankinter only offers its fixed rate with income or assets in euros. A bank may also apply a buffer to foreign-currency income when calculating affordability; ask for it in writing. It is advisable to demonstrate long-term income stability.

Yes, but you must pay tax on the rental income through the IRNR (Non-Resident Income Tax). The rate is 19% for EU/EEA residents and 24% for everyone else (IRNR Law, art. 25.1.a). Additionally, some regions require a tourist licence if the rental is short-term or holiday-oriented.