Buying property in Spain without living there permanently is extremely common but financing it can feel intimidating. If you’re searching for “non-resident mortgage Spain”, you’re likely asking one core question:

Can I realistically get a mortgage in Spain if I’m not a resident—and under what conditions?

The short answer is yes.
The long answer is what this guide is for.

This is a complete, up-to-date, practical guide to Spanish mortgages for non-residents, designed for expats, foreign buyers, and international investors who want clarity—not sales talk.

We’ll cover rules, limits, rates, documents, banks, timelines, taxes, and next steps, so you can move from research to action confidently.

Can Non-Residents Get a Mortgage in Spain?

Yes. Non-residents can legally get a mortgage in Spain, and Spanish banks lend to foreign buyers every year.

However, Spain mortgage rules for non-residents are stricter than for residents. Banks see non-resident borrowers as higher risk due to:

• Foreign income

• Currency exposure

• Enforcement complexity

• Less connection to Spain

As a result, lending is more conservative—but still very possible.

What Is a Non-Resident Mortgage in Spain?

A non-resident mortgage Spain is a home loan granted to someone who:

• Does not hold Spanish tax residency

• Earns most or all income abroad

• Lives outside Spain for more than 183 days per year

Ownership rights are the same as for residents—the difference is financing conditions, not legal ownership.

Spain Mortgage Non-Resident Requirements (At a Glance)

Most Spanish banks require non-residents to meet these baseline conditions:

• Valid passport

• NIE number (mandatory)

• Proof of stable foreign income

• Strong credit profile

• Higher deposit

• Property acceptable to the bank

• Spanish bank account

Meeting these does not guarantee approval—but failing any one of them often guarantees rejection.

How Much Can Non-Residents Borrow in Spain? (LTV Rules)

Spain LTV for Non-Residents

Loan-to-value (LTV) is the biggest difference between resident and non-resident mortgages.

• Non-residents: typically 60–70% LTV

• Residents: up to 80% (sometimes more)

This means:

• You must fund 30–40% of the purchase price yourself

• Plus taxes and fees (another ~10–14%)

Important Detail

LTV is based on the lower of:

• Purchase price

• Bank valuation (tasación)

Not what you think the property is worth.

What Deposit Do Non-Residents Need in Spain?

Realistically, plan for:

• 30–40% deposit

• 10–14% additional costs

Total cash needed: 40–50% of purchase price

This is one of the most searched long-tail questions—and the most misunderstood.

Interest Rates for Non-Resident Mortgages in Spain

Do Non-Residents Get Worse Rates?

Usually, yes—but not dramatically.

Banks price in:

• Currency risk

• Income location

• Enforcement risk

Non-Resident Mortgage Interest Rates Spain

Rates vary by bank and profile, but typically:

• Slightly higher margins than residents

• Fixed rates are more common for foreigners

Always compare using TAE, not just headline rates.

Fixed vs Variable Mortgages for Non-Residents

Fixed Rate Mortgages (Most Common for Expats)

• Stable payments

• No Euribor exposure

• Preferred by banks for foreign income

• Higher initial rate

Variable Rate Mortgages

• Linked to Euribor + margin

• Cheaper initially

• Higher long-term risk

• Harder for non-residents to obtain

Most non-residents are approved more easily for fixed-rate mortgages.

How Euribor Affects Non-Resident Mortgages

Euribor is the benchmark interest rate in Spain.

If you choose a variable mortgage:

• Your payment rises and falls with Euribor

• Banks stress-test your affordability at higher rates

For non-residents, this risk is magnified by:

• Exchange rate fluctuations

• Foreign income volatility

Spanish Bank Risk Assessment for Foreign Buyers

Spanish banks apply strict underwriting for non-residents, including:

• Affordability checks (DTI ratio)

• Stress testing repayments

• Currency risk haircuts

• Conservative income assumptions

DTI Ratio Spain Mortgage

• Monthly debt usually capped at 30–35% of net income

Foreign income is often discounted by 10–30% depending on currency.

Documents Needed for a Non-Resident Mortgage in Spain

Expect more paperwork than at home.

Typical Documentation

• Passport

• NIE number

• Proof of address abroad

• Employment contract or business records

• Last 6–12 months bank statements

• Recent tax returns

• Credit report (home country)

• Property details

• Signed purchase contract

Many documents must be:

• Translated into Spanish

• Apostilled (legalized)

Do Spanish Banks Check Foreign Credit History?

Yes.

Banks may request:

• Experian / Equifax reports

• Country-specific credit certificates

• Bank reference letters

No credit history is better than bad credit—but neither is ideal.

Property Valuation (Tasación) in Spain

Before final approval, the bank orders a tasación.

Key points:

• Conducted by an independent valuation firm

• Determines lending value

• Buyer pays the cost

• Often lower than market expectations

A low valuation can reduce your mortgage amount.

Mortgage Approval Timeline for Non-Residents

How Long Does It Take?

Typical timeline:

• Initial assessment: 1–2 weeks

• Valuation: 1 week

• Final approval: 3–5 weeks

➡️ Total: 5–8 weeks on average

Delays usually come from missing documents—not banks.

Spanish Banks Offering Mortgages for Non-Residents

Most major banks lend to foreigners, including:

• Santander

• BBVA

• CaixaBank

• Sabadell

• International-focused lenders

Each has different:

• Risk appetite

• Country preferences

• Currency rules

Comparison matters more than loyalty.

EU vs Non-EU Mortgage Rules in Spain

Ownership rights are the same, but lending differs.

EU Buyers

• Slightly smoother process

• More banks available

Non-EU Buyers

• More documentation

• Sometimes lower LTV

• Longer approval times

Still very feasible.

Country-Specific Notes

Mortgage for British Non-Residents Spain

• Post-Brexit = non-EU status

• Still widely approved

• More scrutiny than pre-2020

Mortgage for Americans in Spain

• Common

• Extra tax documentation (FATCA)

• Strong USD income often viewed positively

Do I Need a NIE to Get a Mortgage in Spain?

Yes.
A NIE (Número de Identificación de Extranjero) is mandatory for:

• Mortgage

• Property purchase

• Tax payments

• Registration

No NIE = no mortgage.

Taxes and Fees for Non-Resident Property Buyers in Spain

Upfront Costs

• Transfer tax (resale) or VAT (new build)

• AJD tax (mainly new builds/mortgages)

• Notary fees

• Registry fees

• Legal fees

• Valuation fee

Ongoing Taxes

• IBI (local property tax)

• Non-resident income tax (even if unused)

• Possible wealth tax (region-specific)

Residency vs Non-Resident Tax Status

Owning property does not make you a tax resident.

You become tax resident only if:

• You spend 183+ days in Spain

• Or your economic center is in Spain

Mortgage eligibility is unrelated to residency—but taxes are not.

Golden Visa and Non-Resident Mortgages

Spain’s Golden Visa allows residency through property investment.

Important:

• €500,000 must be unmortgaged

• Mortgage allowed above that amount

• Residency benefit is separate from financing

Is It Harder to Get a Mortgage in Spain as a Non-Resident?

Yes—compared to residents.

But “harder” does not mean “unlikely.”

With:

• Strong income

• Good documentation

• Realistic expectations

Approval is very achievable.

Common Reasons Non-Resident Mortgages Are Rejected

• Insufficient deposit

• High DTI ratio

• Unstable foreign income

• Poor credit history

• Overpriced property

• Incomplete documentation

Preparation solves most of these.

Next Steps: How to Improve Your Approval Chances

• Get NIE early

• Prepare documents before applying

• Choose bank-friendly properties

• Use a broker experienced with foreigners

• Keep DTI comfortably below limits

• Plan currency exposure carefully

Need clarity on your mortgage options? Speak with a Tharros Brokers expert and get personalised guidance for your situation.

Conclusion

A non-resident mortgage in Spain is not a loophole or exception—it’s a well-established, regulated lending process designed for foreign buyers.

Yes, the rules are stricter.
Yes, deposits are higher.
But Spain remains one of the most accessible European countries for non-resident property financing.

With the right preparation, documentation, and expectations, getting a mortgage in Spain as a non-resident is absolutely achievable—and often the smartest way to finance a Spanish property purchase.

FAQs: Mortgages for Non-Residents in Spain

Can foreigners get mortgages in Spain?

Yes, both residents and non-residents can.

What is the LTV for non-resident buyers in Spain?

Typically 60–70%.

Do non-residents get worse interest rates in Spain?

Usually slightly higher than residents, reflecting risk.

Do Spanish banks verify foreign income?

Yes—very carefully, including stress testing and currency analysis.

Can I get a mortgage in Spain without a Spanish bank account?

In practice, no. A Spanish account is essential.