How much can I borrow in Spain as a non-resident?

Spanish banks typically lend non-residents 60 to 70% of the valuation. So count on a minimum of 30 to 40% of your own money, plus the purchase costs of around 12 to 14% which you also pay yourself.

Which documents do I need for a Spanish mortgage?

As standard: NIE number, passport, recent payslips or company accounts, tax returns for the last two years, three to six months of bank statements and an overview of any existing loans. Preferably translated or in English.

Who pays the costs of a Spanish mortgage?

Since the 2019 mortgage law (Ley 5/2019) the bank pays the AJD tax and the notary and registration costs of the mortgage deed. The buyer pays only the valuation, indicatively 300 to 600 euros.

Guide › Mortgages

Spanish mortgages for non-residents: how it works

A Spanish mortgage is perfectly achievable as a foreign buyer, but the rules differ from those at home: you can borrow less, and the bank looks harder at your income. Here is what is realistic, what it costs and when you are better off buying without one.

How much will a Spanish bank lend?

As a non-resident, Spanish banks typically finance 60 to 70% of the valuation — not of the purchase price. Residents can get up to 80%. If the valuation comes in below what you offered, the gap is yours to cover. So count on 30 to 40% of your own money, plus the purchase costs on top: since June 2026 ITP in the Comunidad Valenciana is 9%, and with notary, registration and lawyer you quickly reach 12 to 14% in total. To see what that means for your budget, use our calculator; the full cost breakdown is in the cost guide.

To be blunt: banks also assess your monthly outgoings. The rule of thumb is that all your housing costs combined — including any mortgage at home — should stay below 30 to 35% of your net income. Buyers who already live comfortably at home sometimes end up with less in Spain than they hoped.

Which documents does the bank ask for?

NIE number — nothing proceeds without it; see how to apply for a NIE
Passport or ID
Recent payslips (employed) or company accounts and assessments (self-employed)
Tax returns for the last two years
Three to six months of bank statements
An overview of any existing loans and your current mortgage

Expect translation work, and banks that ask for yet another document. Four to eight weeks is a normal timescale; do not plan any tighter.

What does the mortgage itself cost?

Since the 2019 mortgage law (Ley 5/2019) the split is set out in statute:

Cost	Who pays	Indication
AJD (stamp duty on the mortgage deed)	Bank	—
Notary and registration costs of the mortgage deed	Bank	—
Valuation (tasación)	Buyer	±€300–600
Arrangement fee (sometimes)	Buyer	0–1% of the loan

That same law obliges the bank to make a binding offer: the FEIN. A ten-day cooling-off period then applies, during which the bank may change nothing and you can compare at your leisure. Sign nothing before you have the FEIN in black and white.

Fixed or variable?

Variable mortgages track Euribor plus a margin; fixed rates sit — indicatively, as of mid-2026 — roughly between 2.5 and 4%, depending on the bank, the term and whether you take additional products (insurance, salary deposit). Those "bonificaciones" bring the rate down but also cost money; work out the total picture, not just the interest rate. For a second home you might one day want to let out, a fixed rate gives the most peace of mind.

The alternative: releasing equity at home

Many foreign buyers in the Jávea/Moraira corridor do not finance in Spain at all: they release equity on their property at home and buy in Spain outright. The advantages: no Spanish banking circuit, faster completion and a stronger negotiating position — an offer with no financing condition carries real weight with sellers. The drawback: your monthly costs at home rise, and interest on borrowing for a foreign second home is generally not tax-deductible. Have an adviser at home run the numbers before you decide.

Sort out financing before you make an offer

The biggest mistake we see: fall in love first, go to the bank afterwards. Get an agreement in principle (pre-aprobación) up front. Then you know your ceiling, you bid more credibly, and you do not lose a reservation deposit when the financing falls through — a classic from the pitfalls. How the mortgage fits into the rest of the purchase is covered in the buying process.

Financing first, falling in love second

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