Rates, banks, documents, taxation, tips... everything you need to know before buying.
Introduction
Non-residents live less than 183 days a year in Spain. For Spanish banks, these profiles are perceived as more risky (geographical remoteness, complexity of collection procedures) and access to credit is logically less advantageous. But with the growing number of foreign investors, led by the Germans (16.6%), they have no choice but to offer this service.
Rates, banks, documents, taxation, tips for borrowing in Spain when you don't live there, Terreta Spain tells you everything.
| Anyone living in Spain for more than 183 days a year, or having economic and/or family interests in Spain, is considered a tax resident. Below this threshold: non-resident status. |
Which Spanish banks lend to non-residents?
Most of Spain's major banks now lend to foreigners, but here's our shortlist with a direct link to the web page for foreigners.
| BANK | SPECIFICATION |
| BBVA | The loan does not exceed 70% of the value of the property. BBVA offers a 30-year loan term in certain cases. |
| Santander | The loan is called "Mundo Mortgage". Loan of 60% of the appraised value (heapación) as a general rule. Service in English, French, Portuguese, Italian and Polish. |
| CaixaBank via HolaBank | Innovative, multilingual online service, assistance in obtaining NIE. Loan not to exceed 70%. Term reduced to 15 years for Bulgaria, Czech Republic, Hungary, Poland, Romania. |
| Bankinter | Online. No mixed rate. Fixed rate only available to EU residents.25-year maximum.Responsive customer service. |
| Sabadell | The site offers a credit simulator accessible to non-residents. |
| UCI | A specialized bank for foreigners with offices in all major cities, one of the few to accept 30-year loans. ⚠️Ne If you're talking to someone about investing, talk about buying a second home. ValenciaCalle Colón, 60, 6ª C-D +34 912 06 37 90 MadridC. Amaltea, 32, Arganzuela, 28045 Madrid+34 912 06 37 90 BarcelonaRambla de Cataluña, 20, entresuelo 2ª+34 912 06 37 90 |
| Welcome Hub of Banque Sabadell | Ideal if you plan to buy via an SCI or an SL. Carrer de Girona, 107, 08203 Sabadell, Barcelona, Spain+34 937 11 71 44 |
General conditions for obtaining a loan in Spain
Before starting your credit application in Spain, bear in mind that banks apply stricter criteria to non-residents.
Conditions of eligibility
To obtain a mortgage in Spain, you must :
- Be of legal age and under 75 at the end of the loan term.
- You must have an NIE (Numéro d'Identification Étranger) to buy a property.
- Reside in a strong-currency country (euro zone, United States, United Kingdom, Switzerland, etc.)
- Prove a stable, regular income (generally between €2,000 and €2,500).
- Do not exceed a debt level of 30% of your net income (including all debts).
- Have 40% in savings: usually 30% for the down payment and 10% to cover the purchase costs.
- Official translations may be required, depending on the bank.
The stronger the profile, the better the terms of access to credit.
Standard banking conditions
In general, banks lend to foreigners up to 70% Loan-To-Value (LTV), with the exception of strong guarantees or a European co-borrower. The lower the LTV, the lower the risk for the bank, and the better the terms.
- For example, for a €200,000 property, a €140,000 loan gives an LTV of 70% (because 140,000 / 200,000 = 0.70).
Conditions vary depending on your tax status:
| CRITERIA | RESIDENTS | NON-RESIDENTS |
| Rates | Around 2.5% on average, sometimes less (July 2025) | between 3% and 5% (July 2025) - depending on profile |
| Input | 20-30% of the property price | 30-40% of the property price |
| Financing | 80% of max. price | 70% of maximum price |
| Loan term | Up to 30 years | Often 20 years old (sometimes 25, with the exception of BBVA in some cases) |
| Opening commission | Often 0%. | Often 0.5% (negotiable) |
Figures are indicative and may vary from bank to bank.
Good to know:
- The amount financed is always based on the lower of the purchase price and the appraised value of the property.
- Conditions vary from bank to bank, but a specialized broker makes it much easier to access and negotiate rates.
Case studies
Take a look at the project of one of our customers, a French tax resident who now owns this incredible duplex in Ruzafa, one of Valencia's leading districts.
The project in figures :
- Purchase price € 330,000
- Surface area 68m2 carrez, 90m2 usable
- 2 bedrooms
- Projected rent: €1,700/month
- Monthly payment: €980/month
The financing conditions obtained through one of our brokers specializing in this type of profile are excellent.
- 25-year loan.
- 70% of the financed price.
- Interest rate 2%.
Contact us, and our teams will take care of your project.
What types of loans are available in Spain?
- Fixed rate (often preferred by foreigners for its stability)
- Variable rate indexed to Euribor (cheaper but unstable)
- Mixed rate (fixed for 5 years, then variable)
In Spain, variable-rate loans have always been in the majority (70-80%), but following the rise in post-COVID rates, fixed-rate loans have become more popular.
In the summer of 2025, rates are attractive in Spain, and the trend is downward.
They hover around 2% for residents and range from 3% to 5% for non-residents. Beware: every situation is different, and Euribor (which determines variable and blended rates) is volatile. Find out more at the right time.
What do you need to know about nationality?
French
For French investors, as for all foreigners, it's important to bear in mind that banks are more inclined to favor profiles with a stable, easily justifiable income or a permanent contract.
List of documents required to obtain a loan in Spain
Each bank may have specific requirements, but as a general rule, you will be asked :
- Identification
- Proof of address
- NIE number (mandatory)
- Bank statements
- Notice of tax assessment (better if 2 years)
- Salary slips or proof of income
- Proof of contribution (minimum 30%)
- A credit report issued by the Banque de France may also be requested (to assess financial stability).
- Nota simple of the property (extract from the property register)
- Compromis de vente / promesse d'achat (if already signed)
Good to know:
- You can also consider combining a Spanish loan with a French loan.
- You can complement a Spanish property with a consumer credit in France.
- If you choose to borrow in France, the bank will ask you to pledge an asset as collateral (a property net of debts, for example). Pledging does not replace a personal contribution, but it may reduce the need for one. It may involve notarized deeds or certified translations.
If you're planning to invest in Spain but don't live there, contact our experts.
British (post-Brexit)
Since the Brexit, Britons have been treated like non-residents of the European Union. In other words, they are often asked for more collateral and, above all, rates are higher and conditions stricter.
The list of documents required is the same as for French borrowers.
For credit reports, turn to: Equifax UK, Experian UK, TransUnion UK.
Good to know:
Dossiers are stronger if they are backed by recognized UK financial products, and cross-loans are sometimes possible.
Some British banks offer international loans in sterling. Beware of exchange rates.
An alternative solution would be to release the equity (the difference between the value of the property and the loan balance) in a UK property. The idea: obtain liquid funds without selling the property, and then buy in Spain via a bridging loan or remortgage .
To access this type of solution, you need to demonstrate sufficient creditworthiness.
Case in point:
If you own a property in the UK worth £500,000 and have £200,000 left to repay on your loan:
- You have £300,000 of equity.
- You can "release" part of this sum - for example, borrow £100,000 using your property as collateral.
Americans
Americans also have access to Spanish loans, and here again, the documents required are the same as for other nationalities.
For IRS(Internal Revenue Service) tax returns, remember to provide at least 2 years' worth. The credit report must be issued by Equifax, Experian or TransUnion, the 3 main credit bureaus in the USA.
Switzerland, Belgium, Luxembourg, Canada
For these nationalities, processing is fairly similar to that for the French. Acceptance is conditional on income stability and origin of funds.
In Switzerland, Belgium and Luxembourg, pledging is an option worth considering.
- In Switzerland, the credit report is provided by the ZEK (Zentralstelle für Kreditinformation).
- In Belgium, the Banque Nationale de Belgique (BNB ) is responsible for this.
- In Luxembourg, the credit report is generated by the Banque Centrale (BCL).
- In Canada, the credit report is provided by : Equifax Canada, TransUnion Canada.
Practical info
Useful links
The list of official translators
The Terreta Spain simulator to calculate the total cost of your project
Free finance brokers (paid by banks) :
- Gibobs.com
- iAhorro.com
- Idealista hipotecas
- Connectcrédit, a French broker accustomed to working with collateral.
Official documents
- Once your application has been accepted, you'll receive the FIPRE, the Ficha de Información PREcontractual . This is a standardized document that summarizes the essential elements of the loan and facilitates comparison between banks.
- Once the loan has been accepted, the bank will issue the FEIN, Ficha Europea de Información Normalizada (European Standardised Information Sheet). The FEIN commits the bank to the proposed conditions.
How long does it take to process your loan application in Spain?
- Allow 4 to 12 weeks for the entire process.
What costs are involved (excluding mortgage)?
This is a key issue in Spain. In addition to the price of the property, the cost of the work and the cost of the agency (if you use a local real estate specialist, which we recommend), you'll need to factor in other costs:
- They amount to between 10 and 15% of the property price, depending on the region in which you're buying and the specifics of your project (for notary fees, taxes, etc.).
- To find out more, read our fact sheet on property purchase costs in Spain.
| Example: For a British resident wishing to buy a property worth €300,000: 30% down payment = €100,000Average purchase costs of 12% = €36,000Down payment: €136,000 |
The risks of borrowing in Spain
- Please note that in Spain, the buyer remains personally liable for the balance of a mortgage for life, known as responsabilidad patrimonial universal. In other words, it's impossible to voluntarily give up your property when the debt exceeds its value.
- Floor rates (cláusulas suelo) are illegal if they are not expressly specified in the loan offer.
- La dación de pago This is an extreme option, but it does exist. It consists of returning the property to the bank in exchange for cancellation of the remaining debt. This is not always accepted, especially if the borrower is a foreigner.
Best practices
- For atypical income: some banks may require a letter signed by your accountant to clarify atypical income (dividends, freelancing, stock options, etc.).
- Tip: always compare offers from several banks before making a commitment.
- Anticipate deadlines and prepare your file before you start visiting.
- Never reserve a property before obtaining financing, otherwise you will lose the deposit you have paid. In fact, the loan default clause is generally refused in Spain.
- In Spain, loans are granted in euros, so you need to anticipate exchange rate fluctuations if you are a tax resident of a non-EU country.
- Call on the services of a local specialist lawyer
Ready to go? To find out everything you need to know about buying property in Spain, read our complete guide.
Need a helping hand to unblock your financing in Spain? Terreta Spain can help you from A to Z, even if you don't speak Spanish. Tell us about your project.
FAQ - Mortgage in Spain for non-residents, the complete guide.
Can a non-resident obtain a mortgage in Spain?
Yes, it's possible. Spanish banks grant property loans to non-residents, but the conditions are stricter than for residents: the required downpayment is higher (generally 30 to 40% of the property price), and the amount borrowed generally does not exceed 60 to 70% of the purchase or appraisal value.
What are the main eligibility criteria for non-residents?
To grant a loan to non-residents, banks generally require a stable net monthly income (2,000 - 2,500 € minimum), a debt ratio limited to 30-40%, a good credit history in the country of origin, a substantial personal downpayment (30 to 40% of the property price), and an NIE (Numéro d'Identification Étranger).
What documents do I need to apply for a loan?
The documents generally required are passport (or identity card), NIE, proof of income (salary slips, bank statements, tax returns), proof of personal contribution, Nota simple of the property (legal description sheet), compromis de vente or promesse d'achat ( arras). Some documents must be translated into Spanish by a sworn translator.
In Spain, what are the financing conditions for non-residents?
- Amount financed: 60 to 70% of the value of the property.
- Personal contribution: 30 to 40% + 10 to 13% ancillary costs (notary, taxes, etc.).
- Loan term: generally 20 to 25 years, repayment before age 75.
- Interest rate: between 3% and 5% depending on situation and profile (July 2025).
Sources: Idealista, Banco Santander, Wise, HSBC, UCI, Bankiter, Caixabank, Sabadell
