Spanish Mortgages for Non-Residents: What Banks Will Lend in 2026

Loan-to-value (LTV) is calculated against the bank's own appraisal (tasación), not the price you agreed. For residents buying a main home, banks can lend 80% or sometimes more. For non-residents the usual range is 60-70% of the valuation, and buyers from outside the EU, including from the UK since Brexit, are frequently capped nearer 50-60%. Because valuations can come in below the price, your real deposit can be larger than the headline percentage suggests. According to European data cited by lenders, the average LTV on new Spanish loans was about 63% in 2024.

Banks that regularly lend to foreigners include Santander, BBVA, CaixaBank, Sabadell, Bankinter and Abanca, along with smaller regional lenders in the Costa Blanca and Costa del Sol. Many also run international desks that work in English. Loan terms of 20-30 years are standard, but lenders usually require the loan to end before the borrower turns 70-75.

Variable-rate mortgages are priced off the 12-month Euribor with a spread of roughly 1-2.5 percentage points, and fixed-rate products have become common since 2022. The ECB raised its deposit rate in June and September 2026, to 2.50%, and Euribor rose accordingly. Non-residents often pay a bit more than locals, and discounts depend on buying insurance products from the bank. By law the bank must give you an information sheet (FEIN) and a binding offer (oferta vinculante), and you have the right to a notary review at least ten days before signing. Run the numbers with the mortgage calculator, including the fees below.

Apply for your NIE (foreigner identification number) early, because every purchase and mortgage depends on it. Banks then ask for passport, proof of address, the last two or three payslips or business accounts, tax returns for the past two years, bank statements, details of existing debts, and the sale contract or reservation. Spanish banks are used to non-resident files, but they may require translations and certified copies. A lawyer or independent broker who handles non-residents can save weeks.

On a resale the buyer pays Transfer Tax (ITP), set by each region at roughly 6-10%. On new builds the buyer pays 10% VAT plus stamp duty (AJD) at about 0.5-1.5% depending on the region. Notary and land registry fees together run to roughly 1-2%, the lawyer typically charges around 1%, and the bank may add valuation and arrangement fees, though by law the bank now pays most mortgage-related notary and registry costs. Total costs usually fall between 10% and 14% of the price. Annual local property tax (IBI) and, for non-residents, an imputed income tax apply, so seek tax advice. All figures are approximate and vary by region.

See apartments in Spain, villas, houses and penthouses to compare price levels across the coast.

1. Obtain an NIE and open a Spanish bank account.
2. Ask two or three banks or a broker for pre-approval.
3. Sign a reservation contract and then a private purchase contract with a 10% deposit.
4. The bank orders a valuation and issues a binding offer.
5. Attend the notary for the deed, where the loan and ownership are signed, and register at the Land Registry.

Make the private contract conditional on getting finance so you do not forfeit your deposit if the valuation falls short.

Spain's golden visa, which granted residence for property investment of €500,000, was abolished in April 2025. Applications filed before the cut-off were still processed. There have also been political proposals to heavily tax or restrict purchases by non-EU buyers, but we found no evidence that a general ban on foreign buyers has become law. Policy may shift, so check before committing. For legal steps see our Spain buying guide, and for the wider market the Spain analysis.

Cash from home-country equity is common, particularly for British and Irish buyers. Some banks in the buyer's own country offer lending against Spanish property for holiday homes. Developers also offer staged payments for off-plan homes, secured by a bank guarantee law. To test your budget, check cheap properties, under 100,000, land and commercial units, or browse all Spain listings.