Updated in September 2026 — data verified on that date.

Mortgages in Spain for non-residents: conditions, banks and rates for 2026

A Spanish mortgage for non-residents (hipoteca para no residentes) is a loan granted by a Spanish bank to a buyer who is not a tax resident in Spain, secured against the property being purchased. It is one of three ways to finance a purchase from France or Belgium – alongside a loan taken out in your home country and a cash purchase – as compared in our guide to budgeting and financing a property purchase in Spain. This page focuses solely on the Spanish option: bank requirements, loan amounts, interest rates and the application process. NOMA, a buyer’s agent working exclusively on behalf of the buyer, prepares this application before the first viewing: a letter of intent from the bank shifts the balance of power in negotiations with the seller.

Can you get a mortgage in Spain if you’re a non-resident?

Yes: almost all major Spanish banks have a dedicated range of products for non-residents, and an employee or pensioner living in France or Belgium, with a stable income and 40 per cent equity, will be granted approval in the majority of cases. According to the Colegio de Registradores, 32.8 per cent of property purchases registered in the province of Málaga in 2025 were made by foreigners: the banks have adapted their practices accordingly.

What has changed is the assessment of risk. The comparison site HelpMyCash summarised the rules in March 2026 as follows: “the bank will finance a maximum of 70 per cent of the purchase price or valuation”, and “a mortgage for non-residents carries an interest rate that exceeds 3 per cent on average” (HelpMyCash, guide to mortgages for non-residents). A non-EU resident is limited to 50–60 per cent; a French or Belgian national benefits from the EU scheme.

Specific conditions for non-residents

The conditions for a Spanish mortgage for non-residents are based on four parameters: an LTV of 60–70 per cent, a term of 20–25 years with the loan repaid before the age of 75, a debt-to-income ratio of 30–35 per cent of net income, and an interest rate 0.3 to 0.8 percentage points higher than that for residents. The LTV (loan-to-value) refers to the proportion of the property’s value financed by the bank, calculated based on the lower of the two values: the purchase price or the tasación (valuation carried out by a firm approved by the Bank of Spain).

The debt-to-income ratio includes your outstanding loans in France or Belgium. Retirees are eligible for financing, but the term is based on the age of the oldest borrower: at 62, the maximum term is 13 years.

How much should you set aside for a deposit?

A non-resident must provide 40–45 per cent of the purchase price in equity: 30–40 per cent as a deposit, plus 9–13 per cent in purchase costs which the bank never finances, plus valuation and arrangement fees. These costs (7 per cent ITP on second-hand properties, 10 per cent VAT plus 1.2 per cent AJD on new-builds, plus notary, land registry and solicitor’s fees) are detailed on our page on property purchase costs in Spain.

The funds must be traceable (sale, savings, gift) in accordance with anti-money laundering regulations. Anyone who has the full purchase price should compare this with a cash purchase in Spain, which often allows for more effective negotiation.

Spanish banks that lend to non-residents

In 2026, the banks most active in dealing with French and Belgian buyers on the Costa del Sol are Banco Santander (‘Hipoteca Mundo’), BBVA, CaixaBank, Banco Sabadell, Bankinter, Abanca and the specialist UCI. The terms below are indicative (September 2026): each application is assessed on a case-by-case basis.

A specialist broker charges 0.5 to 1 per cent of the loan amount but approaches several banks simultaneously. In all cases, a Spanish bank account with the lender is required to set up direct debits for repayments.

Fixed, variable or mixed-rate: which to choose in 2026?

In 2026, fixed-rate mortgages remain the most popular choice and the most suitable for non-residents: according to the INE (mortgage statistics, June 2026), 61.7 per cent of new loans are fixed-rate, averaging 2.89 per cent, compared with 3.07 per cent for variable-rate loans. Variable-rate loans track the 12-month Euribor, which closed at 2.954 per cent in August 2026 (Bank of Spain): with a margin of 0.9 to 1.5 percentage points, a variable-rate loan currently starts at a higher rate than a fixed-rate one.

The ‘discounted’ rate is subject to linked products (insurance, direct debit); without these, it rises by 0.5 to 1 percentage point. Compare the TAE (equivalent to the TAEG) and the early repayment charges, capped at 2 per cent of the principal for ten years on a fixed-rate loan, and 0.25 per cent over three years on a variable-rate loan.

Maximum term and maximum loan amount

The maximum term for a mortgage for non-residents is 25 years at most banks (20 years at some), with the loan due to be repaid before the borrower reaches the age of 75; the average term of loans taken out in Spain in June 2026 was 25 years (INE). The maximum amount that can be financed is the lower of the two thresholds: 60–70 per cent of the appraised value, and a monthly repayment of less than 30–35 per cent of net income; many banks also set a minimum of €80,000 to €100,000. For off-plan properties, the loan is only released upon handover: you are responsible for making any advance payments to the developer, as explained on our page on off-plan financing in Spain.

Procedure for obtaining a Spanish mortgage from abroad

The process takes 6 to 12 weeks from submitting the application to signing at the solicitor’s office, and can be carried out almost entirely remotely.

Spanish mortgage or a loan in France/Belgium: a comparison

A Spanish mortgage secures the loan against the property being purchased and leaves your French or Belgian assets free, at the cost of an LTV limited to 60–70 per cent and a higher interest rate; a loan taken out in your home country finances up to 100 per cent of the purchase price, but is secured against your main residence or another asset, as French and Belgian banks do not register a mortgage on a property abroad. Our page on financing your purchase in Spain via a French mortgage sets out this option in detail; it is often combined with the Spanish solution.

Mortgages in Spain for non-residents: your questions

How much deposit is required to buy in Spain as a non-resident?

Allow for 40 to 45 per cent of the purchase price in equity: a 30 to 40 per cent deposit, with the bank financing a maximum of 60 to 70 per cent of the lower of the purchase price or the tasación, plus 9 to 13 per cent in acquisition costs, which are never financed. For €300,000, this amounts to €120,000 to €160,000.

Can a French or Belgian bank finance a purchase in Spain?

Yes, but not by taking out a mortgage on the Spanish property: it provides the finance via a mortgage on a property you already own in France or Belgium, an interest-only loan backed by a life insurance policy, or a pledge. This solution can cover up to 100 per cent of the purchase price.

Do you need a bank account in Spain to get a loan?

Yes: the lending bank requires you to open an account with them to direct debit the monthly repayments and any related insurance premiums. This non-resident account can be opened in a few days with your NIE, a passport and proof of income.