Can a non-resident get a Spanish mortgage, and what should you expect? Yes — Spanish banks lend to non-residents, but on different terms to residents. Expect to fund a larger share of the price yourself, a bank valuation (tasación) that may come in below the agreed price, and more paperwork proving your income from abroad.
Reviewed by María Luisa de Castro, abogada (ICA Cádiz nº 2745) — CostaLuz Lawyers has acted for non-resident buyers financing Spanish property since 2006.
The single biggest surprise for foreign buyers is the deposit. Banks in Spain typically ask a non-resident to put down more than a resident would — how much more varies by lender and is not fixed by law — so you should confirm your borrowing before you commit to a price, not after. A mortgage offer also takes time, which needs to fit inside your purchase timetable.
What to expect as a non-resident borrower
- A larger deposit. Lenders generally finance a lower percentage for non-residents than for residents; the exact loan-to-value varies by bank and by your income and profile. Treat any headline figure as indicative until you have a written offer.
- The bank’s own valuation. The lender commissions a tasación; if it values the property below the price you agreed, the loan is calculated on the lower figure and you cover the gap.
- Proof of income from abroad. Expect to provide payslips, tax returns and bank statements, often translated — approval takes longer than a domestic case.
- Mortgage costs. Budget for the valuation fee and the tax and notary costs of the mortgage deed, which are separate from the purchase taxes.
Line up your financing before the conveyancing timeline starts, and remember the mortgage is signed before the notary alongside the purchase deed — the same day you pay the regulated notary and registry fees. If you cannot attend, a power of attorney lets your lawyer sign both for you.
Financing a Spanish purchase from abroad?
Email marialuisa@costaluzlawyers.es and we will review your mortgage offer and fit it to your purchase timetable — free written analysis. Clients since 2006; see our Google reviews.
Frequently asked questions
Can non-residents get a mortgage in Spain?
Yes. Spanish banks lend to non-residents, though usually financing a smaller share of the price than for residents and with more documentation of foreign income.
How big a deposit do non-residents need in Spain?
Larger than a resident’s, but the exact amount varies by lender, valuation and profile and is not fixed by law. Get a written decision in principle before committing to a price.
What is a tasación?
The bank’s own property valuation. If it comes in below the agreed price, the mortgage is based on the lower figure and the buyer covers the difference.
This article is general information, not definitive legal advice — mortgage terms vary by lender and profile. Reviewed by María Luisa de Castro, abogada (ICA Cádiz nº 2745).
Once you have a Spanish mortgage, it’s worth knowing your rights too — see our guide to abusive mortgage clauses Spanish banks have been ordered to repay.
First-time buyers without a large deposit should also check our guide to Spain’s ICO-backed first-time buyer scheme.
This content has been prepared with the assistance of artificial intelligence and reviewed by María Luisa de Castro, a lawyer specialising in Real Estate Law and founder of CostaLuz Lawyers.
The information provided is general and indicative in nature. It should not be used as the sole basis for making professional, legal or investment decisions, and CostaLuz Lawyers assumes no responsibility for decisions taken solely on the basis of this content.
We always recommend personalised review by a qualified professional. For most of our services, initial personalised guidance is free of charge. Get in touch.