Update 24 November 2025
Non-resident mortgage Spain options are widely available, and Spanish banks actively lend to foreign buyers seeking property across the country. Non-residents can typically access financing of 60 to 70 percent of the property purchase price, with mortgage terms ranging from 15 to 25 years and interest rates slightly higher than those offered to residents.
Non-resident mortgages are especially common in Marbella and other international hotspots, where foreign buyers represent a significant share of transactions. According to the Spanish Land Registry, 14 percent of all property sales in 2023 involved non-resident buyers.
“Non-residents can finance up to 70 percent of a Spanish property purchase with local banks.”
What documents are required for a non-resident mortgage?
To secure a non-resident mortgage in Spain, applicants must present:
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Proof of income
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Recent tax returns
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A full record of debts and liabilities
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Payslips and six months of bank statements
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Identification documents (passport and NIE number)
Self-employed buyers must also provide audited accounts or consistent income documentation. Having documents translated and certified can accelerate approval.
How much can non-residents borrow compared with residents?
Residents typically qualify for 80% LTV, while non-residents are capped at 60–70%.
For example, on a €500,000 Marbella property, a non-resident could receive €300,000–€350,000. The remaining balance, plus taxes and fees, must be paid upfront.
| Buyer Type | Max LTV | Example Loan (€500k) | Term Length |
|---|---|---|---|
| Resident | 80% | €400k | Up to 30 yrs |
| Non-resident | 60–70% | €300k–€350k | 15–25 yrs |
What are typical interest rates for non-resident mortgages?
Interest rates for a non-resident mortgage Spain generally fall between 3% and 4.5%, depending on whether the loan is fixed or variable.
The average fixed rate in 2023 was around 3.4%. Rates are slightly higher for non-residents, but competition among Spanish banks keeps them attractive.
How does income verification work for foreign applicants?
To assess affordability, banks evaluate the borrower’s debt-to-income ratio, expecting non-residents to keep mortgage payments under 30–35% of net monthly income.
Applicants must provide salary slips, tax filings, employment contracts, and details of any existing debts abroad.
Key pull quote: “Spanish banks require mortgage payments to remain under 35 percent of net monthly income for non-residents.”
Are there additional costs for non-resident mortgages?
Yes. Buyers should budget for:
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Bank arrangement fees: 0.5–1.5%
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Property valuation: €300–€500
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Notary and registration fees
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Property taxes (Transfer Tax or VAT)
In total, expect an extra 10–12% of the purchase price to cover all taxes and fees.
How does the application process work?
The non-resident mortgage Spain process includes:
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Pre-approval, where banks assess eligibility.
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Signing a property reservation contract while the bank orders a valuation.
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Final approval and signing the mortgage deed and purchase deed before a notary.
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The bank releases funds directly to the seller.
The entire process usually takes 6–8 weeks.
How do Spanish mortgages compare with other European countries?
Spain offers more flexible terms than France and Portugal, especially for non-residents:
| Country | Non-resident LTV | Avg Rate | Term |
|---|---|---|---|
| Spain | 60–70% | 3–4.5% | 15–25 yrs |
| France | 50–70% | 3.5–4.5% | 10–20 yrs |
| Portugal | 60–70% | 4–5% | 15–20 yrs |
Spain stands out for longer terms, competitive rates, and higher approved loan values.
Can non-residents get mortgages for investment properties?
Yes. Spanish banks grant non-resident mortgages for investment properties, although criteria are stricter. LTV may be closer to 60%, and proof of rental demand may be required.
Areas like Marbella and the Costa del Sol are especially attractive due to strong rental markets.
What risks should non-residents consider?
Key risks include:
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Currency fluctuations affecting repayments
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Higher upfront costs
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Delays if documents are incomplete
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Occasional changes in banking policies
Working with experienced mortgage brokers or real estate lawyers in Marbella can reduce complications and speed up approval.
FAQ
Do I need to live in Spain to get a mortgage?
No. Residency is not required.
Can I get a mortgage without a Spanish bank account?
No. A Spanish account is necessary for payments and direct debits.
Are terms different for EU vs. non-EU buyers?
Sometimes EU/EEA buyers receive slightly better rates.
What if I sell the property before the mortgage is paid off?
The mortgage must be cleared before transferring ownership.
Can I apply jointly with a partner?
Yes. Banks review both applicants’ incomes and debts.
