A non-resident can absolutely get a Spanish mortgage. It just comes with a bigger deposit, more paperwork, and a few rules worth knowing before you fall for a place you cannot yet finance. Here is what to expect.
How much a bank will lend
As a non-resident, expect a Spanish bank to lend around 60 to 70 percent of the price if you hold an EU passport, and often 50 to 60 percent if you are from outside the EU, including the UK.
One detail catches people out: the bank lends against the lower of the price or its own valuation. If its valuation comes in below what you agreed to pay, the loan is calculated on the lower figure and you make up the difference in cash. So plan for a deposit of at least a third of the price, and remember the 10 to 13 percent in purchase costs sits on top of that, in cash, not inside the loan. The full cost breakdown.
What the bank will ask for
Spanish lenders want a complete picture of your finances. For most cross-border buyers that means:
- Your NIE and passport.
- Proof of income: recent payslips and your employment contract, or two to three years of accounts if you are self-employed.
- The last two years of tax returns. From outside the EU these often need an apostille and a certified Spanish translation.
- Six to twelve months of bank statements.
- A credit report, and details of any loans or mortgages you already hold anywhere.
- The reservation or arras contract, and the property’s nota simple.
- A Spanish bank account, which the monthly payment comes out of.
Rates, roughly
Rates move, so treat any figure as a starting point and ask for a personal quote. In mid-2026 the twelve-month Euribor, the benchmark most variable loans track, sits around 2.8 percent. Non-resident fixed rates commonly land somewhere in the high 3s to high 4s percent, a little higher again outside the EU. Variable loans are usually Euribor plus a margin of one and a half to two and a half points. Non-residents pay a little more than residents either way, and the sharpest rates tend to come bundled with the bank’s own home insurance and other products.
The valuation
Before it lends, the bank orders a tasación, an independent valuation by a firm approved by the Bank of Spain. You pay for it, usually a few hundred euros, and it is valid for six months. It matters because, as above, your loan is sized against it.
The timeline, and protecting your deposit
This is the part that trips up non-residents most.
Get a pre-approval before you house-hunt, so you know your real budget and your paperwork is ready. Once you have a property, a Spanish mortgage typically takes six to twelve weeks from application to signing, and the law adds a mandatory ten-day reflection period after the bank’s binding offer before you can sign at the notary. The loan is paid out by the bank at the notary, at the same table where you complete.
Because the arras deposit is usually around 10 percent and hard to recover, never sign it counting on a mortgage you do not yet have. Either line up a firm pre-approval first, or have your lawyer make the purchase conditional on the loan. More on the arras.
Who pays what on the mortgage
Since a 2019 law, the split is fixed: you pay the valuation, and an arrangement fee if the bank charges one, which many now waive. The bank pays the notary and registry costs on the mortgage deed, the gestoría, and the stamp duty on the loan. That is separate from the purchase taxes, which stay yours.
Where we fit
We do not lend, and we would be wary of any agent who claimed to. What we do is introduce you to mortgage brokers and lenders we have worked with and trust, who handle non-resident files every week and will tell you early and honestly what you can borrow. Knowing that number before you make an offer is what keeps your deposit safe.