Mortgage in Spain for Non-Residents

This guide is written for American and British buyers, from first-time holiday-home hunters to seasoned investors. Below we explain how Spanish lenders assess foreign buyers, what they ask for and what it costs. If you are also weighing up property outside Europe, we cover the investment rules in the Dominican Republic in a separate guide.

From the affordability check to the notary signing, here is every step in plain English. If you already have a property in mind, send us the numbers with the form and a registered mortgage intermediary will tell you which banks fit your profile. Leer en español: hipotecas para no residentes en España.

Worked example: monthly payment at an example fixed rate of 3%. This is not an offer. Your real rate depends on the bank and on your profile.

(The sections below explain how to deal with each of these hurdles.)

Independent Experts in Mortgages in Spain for Non-Residents

Don’t navigate the Spanish mortgage maze alone. A registered mortgage broker (intermediario de crédito inmobiliario) can compare lenders for you instead of working for a single bank.

How we help to obtain a Spanish mortgage for foreigners.

Understanding Spanish Mortgages for Non-Residents: Key Facts

Can foreigners get a mortgage in Spain?

Yes. U.S., U.K. and other non-EU citizens can be approved as long as they satisfy each bank’s criteria.

Buying a bar, a café or a shop rather than a home? Read our guide to buying a business in Spain first: the lease, the licence and the seller's debts matter as much as the loan.

Who counts as a non-resident?

What matters is where you live, not your passport. For Spanish tax purposes you are a non-resident if you spend 183 days or fewer a year in Spain your main business or economic interests are not based here, and your spouse and minor children do not live here, because that makes the tax office presume you are resident (Article 9 of the Spanish Income Tax Act). A British citizen living in Manchester applies for a non-resident mortgage. An American who already lives in Valencia applies as a resident, on the same terms as any local buyer.

The difference matters because, for the bank, a non-resident's home is a second home. That is why it lends less and asks for a bigger deposit.

Typical loan-to-value (LTV)

• Most lenders will finance 60 – 70 % of either the purchase price or the bank valuation, whichever is lower.
• You’ll need a cash deposit of roughly 30 – 40 % plus roughly 7 – 14 % for taxes and closing costs, depending on the region.

Interest rates (July and August 2026 data)

Non-residents are usually priced a little above residents, and each bank sets its own margin. As a benchmark, the average rate on new home mortgages in Spain was 3.01 % in July 2026: 3.03 % on fixed-rate loans and 2.97 % on variable ones. The average term was 26 years (Source: INE, Mortgage Statistics, July 2026). A variable loan follows the 12-month Euribor, which averaged 2.954 % in August 2026 (Source: Banco de España, August 2026), plus the margin you agree with the bank, so your instalments can rise or fall. Compare both options in the bank's binding offer (FEIN) before deciding.

So what will a non-resident actually pay? Use the INE average as a reference point and expect your offers to sit somewhat above it. The figure to compare between banks is the APR (TAE in Spanish) printed in each FEIN, because it includes the compulsory insurance and fees as well as the interest rate.

A practical note on moving the money: deposits, notary fees and down payments are normally paid by international transfer, and traditional banks often add a significant margin on the exchange rate plus transfer fees. For the transfers in a purchase process we recommend Wise: you get the mid-market exchange rate with low, transparent fees, and your first transfer is free with this link. Affiliate disclosure: if you sign up through our link, Advisors AM earns a commission at no extra cost to you.

Key requirements

• Stable, provable income (salary slips or company accounts).
• Good credit score from your home country (Experian/Equifax/TransUnion).
• Spanish NIE (foreigner ID) and a local bank account.
• Debt-to-income ratio usually capped at 30 – 35 %.

Documents you’ll need to obtain a Spanish Mortgage

• Passport: a clear, certified copy of every applicant’s passport.
• NIE: your Spanish foreigner identification number. It is not a residence permit, and non-residents get one too.
• Employment contract or pension letter: proof of ongoing income; entrepreneurs can provide company accounts instead.
• Latest tax returns: usually the last two years filed in your home country.
• Recent bank statements: three to six months showing salary credits and savings.
• Credit report: Experian, Equifax, TransUnion or FICO report covering all current debts.
• Draft purchase contract: the private agreement or reservation contract for the property.

Get your certified Spanish translations and apostilles ready early.

Process & timeline

What the law gives you before signing. The bank must hand you the FEIN (its binding offer) and the draft contract at least 10 calendar days before you sign. During that time you meet the notary you choose, who explains the loan and records it in a free notarial act. If you cannot travel, a representative can attend for you (Law 5/2019, Articles 14 and 15).

What Spanish banks offer non-residents

This is what each bank publishes on its own website. The final terms only appear in the binding offer, and they change with your country and your income.

If your bank is not listed or publishes nothing, that does not mean it will not lend: many banks study non-resident cases one by one. The fastest route is an intermediary who asks several banks at once. Request your offer with the form and we will tell you which banks match your profile.

Why use a Spanish mortgage broker?

Securing the right mortgage Spain non resident deal isn’t just about finding any bank that will lend; it’s about getting the perfect blend of rate, flexibility and speed. Here is how using a registered broker compares with going direct to one bank:

A good broker can sometimes obtain lower costs and more flexible conditions. Choose the path that delivers the best mortgage in Spain for non-residents, not just the first one offered.

Understanding the costs and affordability of a mortgage in Spain

Online Spanish mortgage calculators are helpful for a quick estimate, but they can’t factor in the nuances that shape a real offer: your currency, bonus income, existing loans, or a rural property that banks value differently. To know exactly what you can borrow and what your monthly payment will be, you need a personalised assessment built around your own numbers.

Key Costs to Factor In

• Property purchase price (agreed or market valuation)
• Deposit: typically 30 – 40 % of the price
• Purchase taxes & fees: on a resale home, the regional transfer tax (ITP), from 6 % in Madrid to 10 – 13 % in Catalonia; on a new build, 10 % VAT plus stamp duty (AJD). With notary, registry and gestoría, budget roughly 7 – 14 % of the price (Source: regional tax laws, September 2026)
• Mortgage valuation fee: usually €300 – €500, paid by you. You can bring your own valuation from an approved appraisal firm and the bank must accept it if it has not expired (Royal Decree-law 24/2021, Article 20)
• Broker fee, if you use one: by law it must be disclosed to you in writing before the broker starts work on your case (Law 5/2019, Article 35)

Who pays what. Since June 2019 the split is fixed by law. You pay the valuation. The bank pays the notary fees for the mortgage deed, the land registry fees for the mortgage and the gestoría (Law 5/2019, Article 14). The bank also pays the stamp duty on the mortgage deed (AJD), as the tax law has made it the taxpayer since November 2018. Your purchase taxes and the costs of the sale deed are still yours.

Tailored Guidance for UK and US Citizens

Spanish underwriters look at applications differently depending on where your income comes from.

Whether you earn dollars in Dallas or pounds in London, good preparation makes approval in Spain faster.

Your tax position follows you into the purchase. Americans should read our guide to the US-Spain tax treaty before buying, and Canadians the Spain-Canada tax treaty guide, because rental income and a future sale are taxed in both countries.