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Mortgages in Spain for foreigners: complete guide
Whether you live abroad or already reside in Spain, the rules differ. This pillar explains how Spanish mortgages work for non-residents, resident expats with Spanish income, and EU citizens — covering loan-to-value (LTV), rates, terms, taxes, costs and the full step-by-step process.
By Fernando Hierro12 min readKey takeaways
- Residents access up to 80% LTV; for non-residents the banks publish up to 70% (60% at some banks) over 20-30 years.
- NIE number is mandatory for any property purchase, mortgage, or bank account in Spain — apply for it before anything else.
- Purchase costs add 5-11% on top of the property price as a resident (ITP, AJD/IVA, notary, registry, gestoria) and 12-15% as a non-resident (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).
- Variable rates are linked to Euribor + a fixed differential; fixed rates keep the same payment for the whole term.
- The binding offer is the FEIN — by law you receive it at least 10 calendar days before signing (Law 5/2019, art. 14).
- Income in another currency can lower the financing (Banca March: 60% instead of 70%) or the products you can get (Bankinter: fixed rate only with income or assets in euros).
- The total time depends on the NIE, your documents and the bank; the only period the law sets is the 10 days between the FEIN and the signing.
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Which mortgage path is yours?
Updated · Oct 2026Your tax residency, citizenship and source of income determine which mortgage product applies and which conditions you can expect. Pick the profile that matches you.
Non-resident
You live and pay taxes outside Spain. Buying a holiday home, second residence or investment property without moving to Spain.
- • LTV: up to 70% of appraisal
- • Term: 20-30 years
- • Foreign income accepted
- • Sworn translations required
Resident expat
You live in Spain (>183 days a year), have a NIE, work or earn income in Spain, and file Spanish tax returns. Buying your primary residence.
- • LTV: up to 80% of appraisal
- • Term: up to 35 years
- • Same products as Spanish nationals
- • Spanish income and tax returns
EU citizen
Citizen of an EU/EEA country (Ireland, Germany, France, Netherlands, etc.) buying without moving to Spain. Income in euros avoids exchange-rate risk.
- • LTV: up to 70% as a non-resident
- • No exchange-rate risk with income in euros
- • Some public documents need no apostille
- • 19% IRNR on rental income (24% outside EU/EEA)
How Spanish mortgages work
Spanish mortgages share the same legal framework regardless of buyer nationality (Law 5/2019 on real estate credit contracts). What changes between profiles are loan terms, LTV ratios and documentation. Below, the core mechanics every foreign buyer should understand before applying.
Loan-to-value (LTV)
The percentage the bank lends against the lower of two figures: appraisal value and purchase price. Residents reach 80%; for non-residents the banks publish up to 70% (60% at some banks). Always plan for the lower figure when budgeting.
Debt-to-income (DTI)
Lenders usually ask that monthly debt payments stay within about 35% of your net monthly income (according to the Bank of Spain, lenders estimate 30-35%). A bank may apply a buffer to foreign-currency income; ask for it in writing.
Rate types
Fixed (same rate the whole term), variable (Euribor + differential, reviewed every six or twelve months), and mixed (fixed for the first 3-10 years, variable after).
Term limits
Residents: up to 35 years in the banks of our database. Non-residents: 20-30 years, as published by each bank. The total term is also capped by your age at the end of the loan: ask each bank for its limit.
Bonifications
Banks reduce the rate if you bundle products: nomina (salary direct deposit), home insurance, life insurance, credit card or pension plan. Compare the rate with and without them — bonifications can be revoked if you cancel any product.
Costs paid by the bank
Since Law 5/2019 (art. 14, in force since June 2019), the bank pays the notary fees on the mortgage deed, its registration and the gestoria; since RDL 17/2018 it also pays the AJD (stamp duty) on the mortgage. The borrower pays the appraisal and any copies of the deed they request — and the property purchase costs separately.
Costs and taxes when buying a property in Spain
On top of the property price, allow 5-11% extra as a resident, depending on the region (for a €200,000 home), and 12-15% as a non-resident (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). The biggest line is the transfer tax — ITP on resale or VAT plus AJD (stamp duty) on new-build — which varies by Spanish autonomous region.
| Cost | Resale property | New-build |
|---|---|---|
| Transfer Tax (ITP) | 4-13% (varies by region) | — |
| VAT (IVA) | — | 10% (residential) / 4% (VPO) |
| Stamp Duty (AJD) | — | 0-1.5% (varies by region) |
| Notary fees | €565-€766 (official fee scale, €150k-€500k) | €565-€766 (official fee scale, €150k-€500k) |
| Land Registry | €197-€318 (official fee scale) | €197-€318 (official fee scale) |
| Gestoria (admin) | ~€300 | ~€300 |
| Property valuation | ~€350 (paid by you; hipotecas.me estimate) | ~€350 (paid by you; hipotecas.me estimate) |
| Total extra cost | ~5-11% (non-residents 12-15%) | ~9-12% (at €250,000) |
Mortgage costs are paid by the bank. Since Law 5/2019 (art. 14), the bank covers notary fees on the mortgage deed, its registration and gestoria, and since RDL 17/2018 the AJD on the mortgage. You pay the appraisal (~€350, hipotecas.me estimate) — and all the property taxes and fees listed above, which apply regardless of whether you take a mortgage.
Required documentation
Banks request the same core documents from all foreign buyers, but non-residents' documents are foreign — so they may need sworn translations and apostilled certificates. Each bank sets how many payslips, returns and statements it asks for.
| Document | Resident | Non-resident |
|---|---|---|
| Passport / national ID | ✓ | ✓ |
| NIE | ✓ | ✓ |
| Recent payslips | ✓ | ✓ (sworn translation) |
| Employment contract | ✓ | ✓ (sworn translation) |
| Latest tax returns | ✓ (Modelo 100) | ✓ (apostilled + translated when required) |
| Bank statements | Recent months | Recent months (the bank sets how many) |
| Credit report | CIRBE (auto) | From your country |
| Existing debts | ✓ | ✓ (translated) |
| Property documentation | Nota simple, escritura | Nota simple, escritura |
| Source of funds proof | ✓ (anti-money-laundering, Law 10/2010) | ✓ (anti-money-laundering, Law 10/2010) |
Step-by-step mortgage process
From application to keys in hand, the time depends on the NIE, your documents and the bank. The only period set by law is the 10 days between the FEIN and the signing.
Get your NIE
Apply at the Spanish consulate in your country (non-residents) or any immigration office in Spain (residents). Ask for an appointment early: the NIE is the foundation for every other step.
Open a Spanish bank account
Required to receive the loan and pay the mortgage. Bring NIE, passport and proof of address. Open it with the bank that grants your mortgage and ask whether it can be done remotely.
Gather your documents
Income proof, tax returns, bank statements, employment contract. Plan ahead for sworn translations (each sworn translator sets the price) if you're a non-resident.
Apply for pre-approval
Submit your file to one or several banks (or use a regulated broker). The bank issues an indicative offer with the loan amount, rate and conditions.
Find a property and sign the arras (deposit) contract
With pre-approval in hand, search for a property and pay the arras (an amount agreed with the seller) to reserve it. Read the contract carefully — it should include a financing clause to recover funds if the mortgage falls through.
Property valuation
The bank commissions an official appraiser. The bank lends against the lower of appraisal value and purchase price.
Receive the FEIN and mandatory 10-day reflection
The FEIN (European Standardised Information Sheet) is the binding offer with all final conditions. By Spanish law (Law 5/2019, art. 14) you receive it at least 10 calendar days before signing — use this time to compare.
Notary signing and registration
Sign deeds of sale and mortgage at the notary (in person or via Power of Attorney). The gestoria registers the deeds at the Land Registry and pays the corresponding taxes.
Banks offering non-resident mortgages
These banks say on their own websites that they offer mortgages to non-residents (checked in September 2026). BBVA, ING and Openbank say their mortgages are for residents only. Ask each bank whether it can serve you in your language.
CaixaBank (HolaBank)
HolaBank: up to 70% and 20 years; online application from 15 Western European countries, the US and Canada. Publishes its non-resident rates.
Bankinter
Up to 60% (second home), 25 years. Fixed, variable, mixed, dual and foreign-currency. Fixed rate only with income or assets in euros. Personalised offer.
Banca March
Up to 70% (60% with income in another currency), 20 years. Plus mortgages: income of €4,000/month and a minimum loan of €100,000. Its online channel Avantio is for residents only.
UCI
Up to 70%, 30 years (fixed). Fixed, mixed or variable. Website and service in Spanish and English.
Banco Santander
No published LTV or term. Non-resident mortgage aimed at second homes, with a dedicated manager and a multilingual website.
Banco Sabadell
No published LTV or term. Non-resident mortgage: terms through a specialist.
Conditions vary substantially by profile. A regulated broker — like hipotecas.me (registered with the Bank of Spain, licence E569) — can compare offers across multiple lenders without you having to apply at each.
Country-specific guides
Each nationality faces specific tax treaties, currency considerations and documents. We have written dedicated guides for these countries.
UK citizens
Post-Brexit specifics, GBP/EUR FX, HMRC interplay
Read guideUS citizens
FATCA, FBAR reporting, Form 8938
Read guideGerman buyers
Doppelbesteuerungsabkommen, AfA, Spekulationssteuer
Read guideIrish buyers
EU advantage post-Brexit, Revenue Commissioners, PRSA
Read guideDutch buyers
Belastingdienst Box 3, EU framework, no FX
Read guideFrench buyers
IFI wealth tax, DGFiP docs, EU succession
Read guideBelgian buyers
Regional inheritance, no wealth tax, FR/NL docs
Read guideSwiss buyers
CHF strategy, 3-pillar pension, premium banking
Read guideSwedish buyers
Skatteverket, ISK, Torrevieja community
Read guideNorwegian buyers
EFTA, Skatteetaten, Alfàs del Pi community
Read guideCanadian buyers
No FATCA, T1135, CRA documents
Read guideAustralian buyers
Power of Attorney, Super, ATO docs
Read guidePolish buyers
EU member, KAS docs, Torrevieja community
Read guideCommon pitfalls and how to avoid them
Underestimating purchase costs
Budgeting only for the property price is a common mistake. Add 5-11% for taxes, notary and registry (12-15% as a non-resident: 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) — plus the appraisal (~€350, hipotecas.me estimate) if you take a mortgage.
Currency-rate exposure
If you earn in GBP, USD or CHF, a euro appreciation raises your effective monthly payment. Some banks offer foreign-currency mortgages (Bankinter publishes one) — always ask before signing.
Valuation gap
If the appraisal value is below the purchase price, the bank lends against the lower number. You must cover the difference in cash. Ask the seller for the previous valuation before agreeing the price.
Applying without pre-approval
Signing the arras (deposit) without a financing clause is risky — if the mortgage falls through, you may lose the deposit. Always insist on a 'subject to financing' clause.
Wrong tax residency assumption
Living in Spain more than 183 days in a calendar year makes you a tax resident, regardless of intention (Personal Income Tax Law, art. 9). This affects Modelo 100 obligations and the tax on your worldwide income.
Bonifications churn
The advertised 'bonificado' rate requires bundling several products. If you cancel any (e.g., life insurance), the rate goes up towards the 'sin bonificar' rate. Read the FEIN small print.
Free tools to plan your purchase
Use these tools to size up your purchase before talking to a bank. All free, no signup required.
Mortgage Simulator
Calculate your monthly payment, borrowing capacity and early repayment
Open tool⚖️Mortgage Comparator
Compare offers by rate type, term, fees and conditions
Open tool🏠What home can I afford?
Maximum property price based on your income, savings and region
Open tool✅Will I get approved?
Quick test to estimate your mortgage approval probability
Open tool📊Mortgage Calculator 360
Payment, affordability, rate comparison and amortisation
Open tool🗺️Tax & Cost Simulator
Calculate taxes and costs by region (comunidad autónoma)
Open tool📈Euribor Today
Current Euribor rate, chart and impact on your mortgage
Open tool🔄Rate Review Calculator
Calculate your new payment at your next mortgage review
Open tool🏦Subrogation Calculator
Simulate 3 bank-switch scenarios: monthly savings, total savings and break-even
Open toolFrequently asked questions
Can a foreigner get a mortgage in Spain?
What is the difference between a resident and a non-resident mortgage in Spain?
How much can I borrow for a property in Spain as a foreigner?
Do I need a NIE to buy property in Spain?
Can I get a Spanish mortgage with foreign income?
What are the total costs of buying a property in Spain?
How long does the mortgage process take in Spain?
Which banks lend to foreigners in Spain?
Do I need to be physically in Spain to apply?
Can I deduct mortgage interest from taxes in Spain?
What is a fixed, variable and mixed mortgage in Spain?
What happens if I cannot get a mortgage offer?
Have more questions? Ask Hipo, our AI mortgage assistant
Legislation cited
- →BOE — Ley 5/2019, reguladora de los contratos de crédito inmobiliario (LCCI)
- →BOE — Real Decreto-ley 17/2018, que atribuye al banco el AJD de la escritura de hipoteca
- →BOE — Ley 35/2006, del Impuesto sobre la Renta de las Personas Físicas
- →BOE — Real Decreto Legislativo 5/2004, texto refundido de la Ley del IRNR (no residentes)
- →BOE — Ley 16/2012, de medidas tributarias (supresión de la deducción por vivienda habitual)
- →BOE — Código Civil (Real Decreto de 24 de julio de 1889)
- →BOE — Ley 10/2010, de prevención del blanqueo de capitales y de la financiación del terrorismo
About this content
Mortgage Content Editor
Published: December 2025
Last updated: 2026-10-02
This page is informational and editorial in nature. It explains how the described mortgage conditions typically work and what to review, without guaranteeing results or replacing a lender’s assessment.