Getting a Spanish mortgage as a non-resident buyer

Spanish banks typically lend non-residents 60–70% of the value (less for non-EU buyers), so plan for a 30–40% deposit plus the ~11–13% purchase costs. You can choose a fixed or Euribor-linked variable rate, and you should get pre-approved before you start viewing. Here’s how non-resident financing works on the Costa Blanca.

By Noël Picou and the team at Team Picou · RE/MAX Inmomás II, Finestrat. We introduce trusted mortgage brokers who work with non-residents, in 6 languages.

How much you can borrow

• EU/EEA non-residents: typically 60–70% of the lower of valuation or price.
• Non-EU non-residents: often a bit lower (around 50–60%).
• So budget a 30–40% deposit plus the ~11–13% purchase costs from your own funds.

Banks also assess affordability — monthly payments are usually kept within roughly 30–35% of your net income, and the loan term often must end by age 70–75.

Fixed vs variable

• Fixed rate: the same monthly payment for the whole term — predictable, popular with non-residents.
• Variable rate: 12-month Euribor + a margin, so payments move with rates.
• A broker compares both across several banks; the best offer depends on your profile.

What the bank will ask for

• Passport + NIE
• Proof of income — payslips and/or tax returns (business accounts if self-employed)
• Recent bank statements
• Evidence of existing debts/loans
• Sometimes an international credit report

The process, step by step

1. Pre-approval (agreement in principle) — do this before house-hunting so you know your budget and act fast.
2. Property valuation (tasación) — an official valuer assesses the home (you pay ~€300–600).
3. Binding offer (FEIN/FiPER) — the bank’s formal terms, with a legal reflection period.
4. Signing at the notary — the mortgage is signed alongside the purchase deed.

From application to completion is commonly 4–8 weeks.

What it costs

• Valuation fee: ~€300–600 (buyer pays).
• Possible arrangement/opening fee (varies by bank).
• Mortgage deed costs: since Spain’s 2019 mortgage law, the bank pays the notary, registry and AJD on the mortgage — not you.

Tips to get approved

• Get pre-approved early — it strengthens your offer and avoids losing a property.
• Keep your debt-to-income low and documents ready/translated.
• Use a broker: they place your file with the bank most likely to say yes on the best terms.

When you’re ready, we’ll line up financing in parallel with the search so completion is smooth. Browse properties · Buying guide · About us.