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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.

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

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.

At Fluent Finance Abroad, we encounter people from all over the world looking to secure a Spanish mortgage for their dream property in Spain but are concerned about not fully understanding the process for non-resident mortgages, including 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.

Getting a non-resident Spanish mortgage can be challenging, which is why seeking professional assistance from Fluent Finance Abroad is highly beneficial. Our advisors have decades of experience in securing non-resident mortgages across diverse backgrounds and property price ranges, ensuring that you’re in the safest hands to 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.

We prepare all of the paperwork involved in the application process for getting your mortgage in Spain and ensure that your case gets submitted in the correct way and to the correct lenders.

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.

Secure your non-resident Spanish mortgage with Fluent Finance Abroad

First, we’ll 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.

Alternatively, you might need to borrow the full 70% – lots of buyers are heavily dependent on mortgages to be able to afford the property they’ve got their eyes on.

Then, we’ll assist with the organisation of your documents ready to send to your mortgage broker.

Before buying a property in Spain, you’ll need an NIE number (Número de Identificación de Extranjero), also known as a Foreigner’s 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.

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

Now is the time to agree on a deposit amount with your lender, and sign the pre-contractual documentation with them so you can get to enjoying your new home in the sunshine.

Frequently Asked Questions

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 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?

At Fluent Finance Abroad, we can help you achieve a written, pre-approval anywhere within 48 hours to 10 working days, depending on the lender.

For Spanish lenders to approve non-resident mortgages, they primarily look at two different factors:

Loan-to-value ratio (LTV)

The maximum loan for non-Spanish residents currently sits at 70%, with the majority of buyers securing a 60%LTV.

Your debt-to-income ratio (DTI)

Debt and income are two of the most important elements when applying for a mortgage in Spain, as they give the lender information on how much you can afford to repay per month, and they’ll only allow your debt to represent a certain percentage of your gross income.

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!

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, 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.

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.