Spanish Mortgages for International Buyers: How They Work In 2026
How much a Spanish bank will lend you as a resident or non-resident, fixed or variable, what you pay and what the bank pays — and how to prepare so it doesn't hold up your purchase.
- Non-residents can borrow in Spain — typically up to 60–70% of the price or valuation, whichever is lower.
- Residents can usually borrow up to around 80%.
- Since 2019 the bank pays most of the mortgage set-up costs; you pay the valuation.
- You'll need the purchase taxes and fees in cash on top of your deposit.
- Get an agreement in principle before you make an offer.
In this guide
Spanish banks lend to foreign buyers every day on Costa Del Sol, and rates have often compared well with those at home. The rules are different, though — especially the amount you can borrow and the costs you need in cash. Here's what to expect.
How Much Can you Borrow?
| Buyer | Typical maximum |
|---|---|
| Spanish tax resident | Up to around 80% of the price or valuation |
| Non-resident | Typically 60–70% of the price or valuation |
The percentage is applied to the lower of the purchase price and the bank's own valuation (tasación). Banks also look at affordability: as a rule of thumb, your total debt repayments — including the new mortgage — shouldn't exceed roughly a third to 40% of your net income.
Remember the loan doesn't cover the purchase taxes and fees. With a 70% mortgage on a resale home, you'll need the 30% deposit plus around 8–10% of the price for costs. See what it costs to buy in Marbella.
Fixed, Variable or Mixed?
- Fixed rate (tipo fijo): the same rate for the whole term. Predictable, and popular with non-residents budgeting in another currency.
- Variable rate (tipo variable): a margin over the 12-month Euribor, reviewed usually once or twice a year.
- Mixed (tipo mixto): fixed for the first years, then variable.
Terms for non-residents are commonly up to 20–25 years, and many banks want the loan repaid by around age 70–75. Banks may offer a lower rate if you take other products — home insurance, life cover, a salary or pension paid into the account — so compare the total cost, not just the headline rate.
Who Pays the Mortgage Costs?
Since the 2019 mortgage law (Ley 5/2019), the split is clear:
| Cost | Who pays |
|---|---|
| Notary for the mortgage deed | The bank |
| Land Registry for the mortgage | The bank |
| Gestoría (the agency that processes it) | The bank |
| Stamp duty (AJD) on the mortgage | The bank |
| Property valuation (tasación) | You |
| Copies of the deed you ask for | You |
Banks may also charge an arrangement fee (comisión de apertura) — it's negotiable, and increasingly waived.
The Documents Banks Ask For
- Passport and NIE.
- Proof of address and a tax-residence certificate from your home country.
- Proof of income: recent payslips and employment contract, or two years' accounts and tax returns if you're self-employed.
- Your last personal tax return.
- Six months of bank statements, showing existing loans and commitments.
- A credit report from your home country.
- The property details: the nota simple and the reservation or purchase contract.
Documents in other languages usually need an official (sworn) translation, which is worth ordering early.
Timeline: Fitting the Mortgage into your Purchase
- 1Before viewing: get an agreement in principle so you know your real budget.
- 2After your offer: apply formally; the bank instructs a valuation of the property.
- 3Offer and legal checks: the bank issues a binding offer. Spanish law requires you to receive the documents at least 10 calendar days before signing, and to attend a free meeting with the notary who explains the terms.
- 4Completion: the mortgage deed is signed at the notary on the same day as the purchase deed.
Questions – Answered
Short answers to the questions we're asked most on this topic. If yours isn't here, ask us.
Yes. Spanish banks lend to non-residents, typically up to 60–70% of the purchase price or the bank's valuation, whichever is lower.
Usually 30–40% of the price, plus around 8–10% for taxes and fees on a resale home (around 12–13% on a new build), which the mortgage doesn't cover.
Since Ley 5/2019, the bank pays the notary, registry, gestoría and stamp duty on the mortgage. The borrower pays the property valuation and any copies of the deed they request.
Allow four to eight weeks from application to signing. The law requires you to receive the binding offer at least ten calendar days before you sign.
Speak to the PACE team directly
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