Mortgages in Spain for non-residents: rates, LTV limits and requirements
Updated: July 15, 2026
Spanish banks lend to foreign buyers every day — the process just has more paperwork and a bigger deposit than the one residents go through. Here’s what actually changes when you apply for a mortgage in Spain as a non-resident, and how to plan the numbers before you fall in love with a property.
The headline difference: loan-to-value
For a Spanish tax resident, banks typically finance up to 80% of the lower of price and valuation for a primary home. For non-residents, the standard range is 60-70% — the property will not be your habitual residence, so the bank treats it as a second home and demands more equity.
That single number drives your whole budget:
- Deposit: 30-40% of the price from your own funds.
- Purchase costs on top: roughly 10-12% more for taxes (ITP on resale homes — it varies a lot by region — or 10% VAT plus AJD stamp duty on new builds — 7% IGIC instead of VAT in the Canary Islands), notary, registry and appraisal. Estimate yours with the purchase costs calculator.
- Rule of thumb: to buy a €200,000 property, have €80,000-€100,000 available before the mortgage.
What banks ask non-residents for
The credit analysis is the same idea as for residents — around 30-35% of your net income as a debt ceiling — but everything must be evidenced from abroad. A typical checklist:
- NIE (foreigner identification number) — see how to get it.
- Passport and proof of address.
- Income evidence: last payslips, employment contract, or company accounts if self-employed.
- Tax returns from your country of residence (often the last 1-2 years).
- Bank statements (commonly 3-6 months).
- A credit report from your home country (e.g. Experian/Equifax in the UK, SCHUFA in Germany).
- Documents not in Spanish may need sworn translation, and some banks ask for apostilles on official ones.
Most banks will also require a Spanish bank account to pay the mortgage from, and many offer non-resident accounts you can open before moving money.
Rates and terms: what’s realistic
Non-residents choose between the same fixed, variable and mixed products described in our mortgage types guide. Published TINs are similar to residents’ offers, with two practical caveats:
- Bonus discounts are harder to reach. The best advertised rates assume a Spanish payroll, several insurances and cards. Without them you pay the “without bonus” rate — always compare the APR both ways in the mortgage comparison.
- Terms can be shorter. Many banks cap non-resident loans at 20-25 years and require the loan to end before you turn roughly 75.
If your income is not in euros, note that Ley 5/2019 gives borrowers with foreign-currency income specific protections, including the right to convert the loan’s currency in certain cases — ask the bank how your case is treated.
The process and timeline
- Get the NIE and open a Spanish account (weeks, do it first).
- Pre-approval: send your documentation and get an approval in principle.
- Appraisal (tasación) of the property by a Bank of Spain-registered appraiser — you pay this (~€300-600).
- FEIN binding offer and the reflection period required by law — at least 10 calendar days nationally (14 in Catalonia) between documentation and signing.
- Signing at the notary, usually with a power of attorney if you can’t attend in person.
From offer to keys, 6-10 weeks is a realistic range if the paperwork is ready. Start with the number that rules everything — what a bank would lend you — in the calculator below, then check the full buying process and the taxes you’ll pay.