Spanish Mortgage Guide for Non-Residents: What UK Buyers Need to Know

In short, yes, you can get a mortgage in Spain as a non-resident. The process works differently from what most UK buyers are used to. The rules around deposits are stricter, and a handful of steps must be processed before a Spanish bank will consider your application.

Spain has no restrictions on foreign nationals buying property or borrowing from Spanish banks. Post-Brexit, British buyers are treated as non-EU nationals rather than EU citizens, but that change affects visa and residency rules, not your ability to secure a mortgage. UK nationals have continued to purchase properties on the Costa del Sol in significant numbers, and the non-resident mortgage market remains active and competitive.

What has changed for non-residents is the loan-to-value ratio on offer, the documentation you’re required to provide, and the timeline you work to.

Can non-residents get a mortgage in Spain?

Yes, non-residents can apply for a Spanish mortgage. Spanish banks and international lenders operating in Spain are open to lending to buyers who don’t live in the country. For mortgage purposes, a non-resident is usually defined as someone who spends fewer than 183 days per year in Spain, and this applies regardless of nationality.

The key difference is not whether a person can borrow, but on what terms. Non-residents face lower loan-to-value limits than residents, and the documentation required to present reflects the fact that Spanish banks cannot as easily verify your income and creditworthiness through their own systems.

How much can non-residents borrow?

Loan-to-value (LTV) is the biggest difference between a resident and a non-resident mortgage in Spain. For non-residents, most lenders will offer up to 60 to 70% of the property’s valuation or the purchase price – whichever is lower. Residents can borrow up to 80%.

On a 70% LTV basis, a buyer will need a minimum deposit of 30% of the property value. You must also cover buying costs on top of that. In the Costa del Sol, buying costs can be between 10% and 13.5% of the purchase price. They cover transfer tax or VAT on new builds, stamp duty, notary fees, and legal costs. Non-residents should budget for roughly 40% to 55% of the purchase price in total upfront cash, depending on their LTV and the property type.

More information on buying costs is covered in detail on our buying process page.

Spanish mortgage rates for non-residents

Spanish mortgage rates are set relative to the European Central Bank (ECB) base rate and the Euro Interbank Offered Rate (Euribor).

Spanish banks offer three main mortgage types:

Fixed-rate mortgages offer a set interest rate for the full term of the loan. Rates for non-residents in 2025 and into 2026 have generally ranged from around 2.5% to 3.5%. Fixed rates suit buyers who want predictable monthly payments.

Variable-rate mortgages are tied to the 12-month Euribor plus a lender spread. They are usually 1.2% to 2% above the Euribor rate for non-resident borrowers. Monthly payments move with Euribor, which can work in your favour when rates are falling but adds uncertainty when they rise.

Mixed or hybrid mortgages start with a fixed rate for an initial period of five to 15 years, then switch to a variable rate for the remainder. Spanish banks have offered these a lot more since 2024.

Mortgage terms and age limits

Non-resident mortgages in Spain are usually offered on terms of 20 to 25 years. Shorter terms mean higher monthly payments, but less total interest paid over the life of the loan.

Most Spanish banks place an age limit at the end of the mortgage term. This is generally between 70 and 75 years old, and it impacts the maximum term available to older buyers. A buyer aged 60 could find their borrowing options limited to a 10-to-15-year term rather than 20 to 25, which increases monthly repayments. For a detailed look at how age can impact Spanish mortgage applications, read our blog on age limits on Spanish mortgages.

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

Spanish banks cannot pull a UK credit file or call your employer directly, so the documentation stage is thorough. Getting this prepared in advance saves significant time once you find a property you want to buy. You will need an NIE number and proof of income.

An NIE number (Número de Identificación de Extranjero) is a Spanish tax ID number. It’s mandatory for all property transactions and mortgage applications in Spain. Without it, you simply cannot progress through the process.

In terms of proof of income, you’ll need the last three months of payslips and your most recent P60 or tax return. For self-employed buyers, lenders will usually accept two to three years of tax returns.

Other documentation required includes bank statements, credit history, and proof of address.

Documents from the UK may need to be translated into Spanish by a certified translator. Requirements vary by lender and property value, so confirm this with the bank or mortgage adviser at the outset.

Which Spanish banks offer mortgages to non-residents?

Several major Spanish banks regularly lend to non-resident buyers. The most used by international buyers on the Costa del Sol include:

Banco Santander offers a non-resident mortgage (the Mundo Mortgage) with terms of up to 25 years and no minimum loan amount. Eligibility criteria include a minimum annual income of around €30,000 for salaried applicants, a maximum debt-to-income ratio of 35%, and an LTV of up to 70%.

CaixaBank operates the HolaBank mortgage process, which is aimed at foreign buyers and non-residents purchasing property in Spain.

Sabadell and BBVA also lend to non-resident buyers, but product availability and terms change regularly.

Independent mortgage brokers can access multiple lender offers simultaneously, manage a lot of the paperwork on your behalf, and advise on which lenders are likely to look most favourably on your application.

The non-resident mortgage application process

Before entering the Spanish property market, it’s important to understand the process.

1.     Get your NIE number. Do this before viewing properties. The NIE is required at every stage, and waiting for it once you have found a property adds delay.

2.     Find your property and sign a reservation contract. The reservation contract takes the property off the market for a specified period while due diligence is carried out.

3.     Commission the tasacion. The bank will arrange for an approved valuer to carry out the official property valuation. This must be completed before the bank can issue a mortgage offer.

4.     Gather and submit your documents. Prepare your full documentation pack. The more complete and organised this is from the start, the faster the bank can process your application.

5.     Receive the Ficha Europea de Información Normalizada (FEIN). Once approved, the bank issues the FEIN, which is the binding mortgage offer. Spanish law requires a minimum 10-day cooling-off period between receiving the FEIN and signing. You cannot proceed to completion before this period expires.

6.     Sign at the notary. The mortgage deed and property purchase deed (escritura) are both signed at the notary, typically at the same appointment. The mortgage funds are released directly to the seller.

For more details on the full property purchase process, see our step-by-step guide to buying property in Spain.

Ready to take the next step in your dream Spanish move?

Bromley Estates has been helping UK and international buyers purchase property on the Costa del Sol since 2009. Our team can connect you with trusted, independent mortgage advisers who specialise in the Spanish market and understand the specific requirements facing non-resident buyers.If you’re thinking about buying property in Marbella or anywhere along the Costa del Sol, get in touch with our team today. We’ll help you understand your options, connect you with the right financial adviser, and guide you through the buying process from search to completion.