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Spanish Mortgages For Non-Residents

Looking to secure a Spanish mortgage in Spain as a non-resident? Fluent Finance Abroad specialises in obtaining Spanish mortgages for non-residents as simply and easily as possible. As a non-resident buyer, you can secure a mortgage loan on a Spanish property, borrowing up to 75% of its value. – The normal maximum is 70% loan to value, the average can be lower at 50 or 60% LTV.

Your dream home in Spain may be closer than you think!

Fluent Finance Abroad has been arranging Spanish mortgages for non-residents since 2006.

We encounter people from all over the world looking to secure a Spanish mortgage for their dream residence or holiday home in Spain, but who are concerned about not fully understanding the process for non-resident mortgages. This includes notary fees, Spanish income tax implications, and terms offered by Spanish financial institutions.

Our expert team of fully qualified Spanish mortgage advisors will eliminate any confusion you may have about obtaining a Spanish non-resident mortgage, offering clear and sensible advice tailored to your unique circumstances and requirements.

What is a Spanish mortgage for non-residents?

Non-resident Spanish mortgages refer to a lending agreement with Spanish banks that’s offered to individuals currently living outside of the country, allowing them to finance a property purchase in Spain.

Buying property in Spain for non-residents is a more complicated process than a standard UK application, but we complete it regularly for buyers of different ages, income types, and employment backgrounds.

Pre-approval first, property search second

Before you contact a single estate agent or view a single property, we always recommend speaking to a mortgage broker. Knowing your maximum budget and having an Agreement in Principle in place means you search with confidence, make offers that stick and avoid the stress of chasing finance after you’ve already fallen in love with a property.

At Fluent Finance Abroad, we look after you throughout the entire process, from start to finish – and beyond!

We’re on hand to answer all of the questions you may have, no matter how trivial they may seem. We want to assure you that you’re in completely safe and capable hands when obtaining your Spanish mortgage.

How much can you borrow as a non-resident in Spain?

Spanish lenders assess non-resident buyers based on two figures: loan-to-value (LTV) and debt-to-income (DTI) ratio. LTV is calculated against the property’s purchase price before tax. Non-residents can borrow up to 75% of the property value, but some lenders are only comfortable with lending 60% LTV, whereas Spanish residents are usually able to borrow upwards of 80%.

As a non-resident, you may have higher mortgage interest rates and shorter repayment terms.

DTI influences monthly affordability. Spanish banks typically accept up to 35% of gross monthly income, meaning total debt repayments (including the new mortgage) can’t exceed that figure.

Our specialist mortgage experts will help you figure out how much you’ll need to borrow to purchase your dream Spanish property.

You might have a considerable amount saved up, but we advise still financing part of the purchase price to free up some funds.

For a rough estimate of how much you could borrow, head over to our online Spanish mortgage calculator.

What do you need for a non-resident Spanish mortgage?

When purchasing a property as a non-resident in Spain, the standard document list for a non-resident application is:

Employment contract if you are employed at a company that isn’t yours
Last (6 months) payslips obtained in your country of residence
Bank statement for the last year in which the salary (or income) is paid
Tax return (returns)
Certificate of tax residence
Contract of the house to be bought
The last three receipts of debts that have been cancelled

It may seem extensive, but each of these documents helps your lender assess your risk profile by letting them know your level of income and debt.

Remember, the sooner you send everything over, the quicker our team can source the best mortgage rates and deals!

How the non-resident mortgage process works

Initial assessment: We review your income, residency, down payment, and the property to establish what you can borrow and which lenders are most likely to approve you.
Agreement in Principle (AIP): We can deliver a written AIP within 48 hours in many cases. This confirms your borrowing capacity before you make an offer.
Document preparation: We compile and check your full mortgage application pack before submission. Nothing goes to a lender until it is complete.
Lender selection: As an independent specialist broker, we work with many Spanish banks and approach those best suited to your profile, not the ones most convenient for us.
Offer: We present your mortgage options, explain the terms, and recommend the right product for your circumstances.
Completion: Our team liaises with your Spanish lawyer, the bank, and the notary through to key handover.

Why buyers choose Fluent Finance Abroad

Getting a non-resident Spanish mortgage can be challenging, which is why seeking professional assistance from Fluent Finance Abroad is highly beneficial.

We’re registered with the Bank of Spain (registration number D305), under Ley 5/2019. All our financial advisers are qualified to assist clients with the complex mortgage decision process.

Our advisors have decades of experience in securing non-resident mortgages for foreign buyers across diverse backgrounds and property price ranges, ensuring you’re in the safest hands and receive the very best guidance.

We handle all of the paperwork involved in securing a mortgage from a Spanish bank, making sure that your case is submitted correctly to the right financial institutions for optimal results.

Frequently Asked Questions

What's an NIE number, and do you need one to get a Spanish mortgage for non-residents?

Before buying a property in Spain, you’ll need to obtain an NIE number (Número de Identificación de Extranjero), also known as a Foreign Identification Number.

Your unique NIE number acts as a tax and identification number and tracks your financial and legal activities in Spain. Our Spanish mortgage advisors can help you obtain this from a Spanish consulate in the UK or through a Spanish gestor on the ground.

We suggest getting your finances sorted before house hunting and applying for your NIE certificate. This way, you know what you can spend and how much the bank is willing to offer.

Do I need a Spanish bank account to get a non-resident mortgage?

You’re not legally required to open a bank account in Spain and don’t need one to get an approval in principle. Once you have your mortgage ready and a house found, we’ll help you open a current account with the bank offering you the best mortgage at the right time.

Then, it will be easier to set up monthly repayments, and pay local utility bills and property taxes.

How much can I borrow for my Spanish mortgage as a non-resident?

So, you’re looking to purchase a property in Spain.

Whether you’re on the hunt for your dream holiday home or preparing for future investment, you’ll need a mortgage to purchase a property in Spain.

The percentage of the property value (before tax) that the bank or building society will finance is known as loan-to-value (LTV), and all entities offer different amounts.

However, as a general guide, non-residents in Spain can borrow up to 70% of the property value, but some lenders are only comfortable with lending a 60% LTV – whereas Spanish residents are usually able to borrow upwards of 80% LTV.

As a non-resident, you’ll also have higher mortgage interest rates and shorter repayment terms.

Having savings available before you purchase a property is extremely important – so you can be prepared for any additional expenses.

For a rough estimate of how much you could borrow, head over to our online Spanish mortgage calculator.

What income types do Spanish lenders accept from non-residents?

The following all count as qualifying income for a non-resident mortgage in Spain:

- Employment salary
- Pension income
- Rental income from existing propertiesSelf-employed income
- Dividends from companies and investment portfolios

Self-employed applicants need 2-3 years of tax returns to confirm their income. Spanish lenders also request a credit report from your country of residence, so a good credit history matters.

If you have any queries, be sure to get in touch with us today. As a specialist broker, we’re more than happy to help and provide expert advice.

What documents do lenders ask for?

When purchasing a property as a non-resident in Spain, you’ll be required to provide the following documents to your lender:

A photocopy of your NIE (Número de Identificación de Extranjero) or passport
Certificate indicating that you’re not a resident of Spain
Employment contract
Last payslips obtained in your country of residence
Bank statement for the last year in which the salary is paid
Tax return
Certificate of tax residence
Contract of the house to be bought
The last three receipts of debts that have been cancelled

It may seem extensive, but each one of these documents helps your lender assess your risk profile, by letting them know your level of income and debt.

If you have any queries or concerns when it comes to what documents you need to provide, be sure to get in touch with us today. We’re more than happy to help and provide our expert advice.

How long does it take to get a Spanish mortgage approval?

We can deliver a written Agreement in Principle within 48 hours or up to approximately 10 working days, depending on the lender. Full formal approval from the bank, including the valuation fee stage, typically takes six weeks from submission of your complete application.

Need more information?

Give our experts a call on +34 952 85 36 47 or request a callback via our online contact form.

We look forward to chatting with you and will gladly discuss your requirements in more detail!

Does the 90-day rule affect my ability to buy property in Spain?

No – the 90-day rule governs how long you can stay in Spain (90 days in any 180 days) and not whether you can own property there.

For more information about the requirements for buying property or taking out a mortgage in Spain, get in touch with our finance experts today.

Can UK buyers still get a Spanish non-resident mortgage after Brexit?

Yes, they can – Brexit hasn’t removed UK buyers’ access to Spanish mortgages. UK applicants are now treated as non-EU citizens, the same as Australian, Canadian, and American buyers.

If you’re a non-EU buyer, such as a UK resident, we can help you select the right banks to apply for your mortgage in Spain.

Are Spanish mortgage rates fixed or variable?

Spanish mortgages are available with both fixed and variable interest rates, providing flexibility for those interested in Spanish property purchases.

A fixed-rate mortgage keeps your interest rate consistent for a set term, offering predictable and stable monthly payments. Variable-rate mortgages, on the other hand, are linked to the Euribor (Euro Interbank Offered Rate) and can fluctuate over time, which may impact your overall mortgage cost.

Some lenders also offer hybrid options, where the rate is fixed for an initial period before switching to a variable rate loan, allowing you to balance stability and potential savings.

Contact our team today

For specialist advice on securing a Spanish mortgage for non-residents, contact Fluent Finance Abroad today. We’ll be happy to answer any of the questions you may have and provide you with the assistance you need.

To speak to a member of our friendly team now, give us a call on +34 952 85 36 47 or email us at info@fluentfinanceabroad.com and we will respond as soon as possible. We can also discuss your requirements via Zoom or Teams – just let us know your preference.

Alternatively, you can contact us via our online enquiry form for a quick response from one of our Spanish mortgage advisors.

You can also get in touch to find out more about our other mortgage products, including Spanish lifetime mortgages (retiree mortgages), Spanish resident mortgages, and capital raising mortgages.

Get In Touch Today

"Clear and concise communication between clients and lenders is critical to this business"

Marc Elliott de Lama

Marc Elliott is the British expat and brains behind Fluent Finance Abroad, the Spanish mortgage brokers based in San Pedro de Alcántara, Marbella.