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Spanish Mortgages For Non-Residents

Looking to secure a Spanish mortgage in Spain as a non-resident? Fluent Finance Abroad specialise in obtaining Spanish mortgages for non-residents as simply and easily as possible.

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

A non-resident Spanish mortgage refers to a lending agreement that’s offered to individuals currently living outside of 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 that they don’t fully understand how mortgages in Spain for non-residents work.

Our expert team of fully qualified Spanish mortgage advisors will completely eliminate any confusion you may have about obtaining a Spanish non-resident mortgage, and offer assured and sensible advice for your particular set of requirements and circumstances.

Getting a mortgage as a non-resident in Spain is nothing short of difficult, which is why it’s best if you seek professional help and advice from Fluent Finance Abroad.

Fluent Finance Abroad has over 16 years of experience in securing non-resident mortgages in Spain, for a diverse range of clients from a variety of backgrounds. With our Mortgage experts you know you’re in the safest possible hands and receive the very best advice and guidance.

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 inception to completion – and beyond!
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.

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

Secure your Spanish mortgage with Fluent Finance Abroad

First, we’ll help you figure out how much you’ll need to borrow to purchase your dream property in Spain.

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 organising 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 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 a higher interest rate and shorter repayment terms.

It goes without saying that having savings available before you purchase a property is extremely important – to face 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
  • Last three receipts of debts that have been cancelled

It may seem a bit extensive, but each one of these documents helps your lender asses 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 your mortgage, 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!

Contact our team today

For specialist advice on Spanish mortgages 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 one of our friendly team now, give us a call on 0034 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.

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    "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.

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