Guide · Financing
Financing property in Spain 2026: how to get a mortgage without residency
By Ronny Steinhagen, co-founder of CASA READY · As of October 2026 · approx. 8 min read
The short answer
Yes, Spanish banks also lend to buyers who do not live in Spain, usually 60 to 70% of the purchase price. For a €200,000 new-build apartment that means around €88,000 of your own funds including all buying costs; with a €140,000 loan over 25 years the monthly payment is around €700 to €780 depending on the rate. Since 2019 the bank pays notary, land registry and tax on the mortgage deed; you only pay the valuation.
Financing without Spanish residency
Spanish banks also grant mortgages to buyers living in Germany, Poland, the Netherlands or another EU country. For non-residents they usually finance 60 to 70%, based on the lower of purchase price and valuation; residents get up to 80%. There is no legal limit; the ratio is the bank's decision.
Terms of up to around 25 years are common, with fixed, variable or mixed rates. Variable loans are linked to Euribor; the 12-month rate was 3.247% in September 2026 according to the Banco de España. What matters to the bank is your income, your existing commitments and the source of your own funds.
Worked example: €200,000 new-build apartment
Valencia region, buying costs as in our buying costs guide, including the valuation for the bank:
| Purchase price | €200,000 |
|---|---|
| Buying costs incl. valuation | €28,010 (14.0%) |
| Loan (70% of the price) | €140,000 |
| Total own funds | €88,010 |
| Monthly payment at 3.5%, 25 years | €701 |
| Monthly payment at 4.0%, 25 years | €739 |
| Monthly payment at 4.5%, 25 years | €778 |
Interest rates are assumptions for the calculation, not offers. The actual terms are set out by the bank in the binding offer (FEIN).
If you rent the property out, the rental income covers a good part of the payment. Our yield calculator shows how much.
Free mortgage guide
The Spanish mortgage on 8 pages, as a PDF
Loan-to-value, own funds, worked example, document checklist, process and split of costs, ready to print. Ronny will send you the guide personally by email.
- Worked example with monthly payments
- Checklist of bank documents
- Process from pre-check to notary
- On request: contact with financing specialists
Three ways to finance
The property in Spain is the security. Advantage: loan and property in the same country, paid out directly at the notary appointment.
You borrow against an existing property in your home country. Advantage: a familiar bank, often good terms, and you buy in Spain like a cash buyer.
With a new build you pay in stages: reservation, bank-guaranteed deposits, the rest at handover. This buys you time, and the mortgage is only paid out on completion.
Documents for the bank
- Passport or ID card and NIE (Spanish tax number)
- Proof of income: recent payslips, or accounts if self-employed
- Tax assessments or returns for the last one to two years
- Bank statements and proof of the source and amount of your own funds
- Credit report and existing loans
- Employment contract; some documents with certified translation
- Spanish bank account (usually with the lending bank)
Process and your rights
- Pre-checkBased on income and own funds we clarify with financing specialists what amount is realistic, ideally before the reservation.
- Valuation (tasación)An independent valuer assesses the property. You pay for the valuation, around €400 in our cost model.
- Binding offerThe bank hands you the European information sheet FEIN and the warning sheet FiAE at least 10 calendar days before signing.
- Advice at the notaryNo later than the day before signing, the notary explains the contract and records this free of charge. You choose the notary.
- SigningPurchase deed and mortgage are signed at the same appointment; the bank pays the price directly.
Who pays which costs
Since Law 5/2019 on real estate credit, the split of costs is clearly regulated. The bank pays notary and land registry for the mortgage deed, the gestoría and, since November 2018, the tax on the mortgage deed (AJD). You pay the valuation and any copies you request. An arrangement fee is allowed but must be stated in the offer (FEIN). Many banks offer better rates if you take out insurance or a salary account with them; this is also shown in the offer, and the choice is yours.
The costs of the purchase itself, i.e. IVA or ITP, notary and registry for the purchase deed, remain yours. All figures are in our buying costs guide.
New builds: what is different
When buying from a developer, the mortgage is only paid out at handover, once the property is finished and registered. You pay the reservation and deposits beforehand from your own funds. In Spain these deposits are legally secured by a bank guarantee or insurance; we check this before the first payment. The developer often has a development loan you can take over (subrogación); still compare the terms with other banks.
Practical tips
- Sort out financing before the reservation, not afterwards.
- Get at least two offers and compare the APR (TAE) in the FEIN.
- Weigh fixed against variable: a fixed rate gives certainty over the whole term.
- If you do not earn in euros, factor in the currency risk.
- Document the source of your own funds early; bank and notary will ask for it.
Which financing suits you?
Tell us the property you have in mind, your budget and own funds. We work out your financing and put you in touch with independent financing specialists. Free and without obligation.
Frequently asked questions
Can I get a mortgage in Spain as a foreigner without residency?
Yes. Many Spanish banks lend to non-residents, usually 60 to 70% of the purchase price or the lower valuation, with terms of up to around 25 years.
How much of my own money do I need?
Around 30 to 40% of the price plus buying costs of about 12 to 14% for a new build. For a €200,000 apartment that is around €88,000.
Who pays notary and land registry for the mortgage?
The bank, as well as the gestoría and the tax on the mortgage deed. You only pay the valuation and your own copies.
How long does a mortgage take in Spain?
Usually four to eight weeks from complete documents. There are at least 10 calendar days between the binding offer and signing.
Do I have to travel to Spain to sign?
Not necessarily: with a notarised power of attorney with apostille a trusted person can sign for you. The mandatory advice session at the notary must take place before signing; we clarify in advance with the notary how this works with a power of attorney.
Legal basis and sources
- Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario, Art. 14 and 15 (BOE)
- Banco de España, Cliente Bancario: which costs do you pay on a mortgage? (clientebancario.bde.es)
- Banco de España, Cliente Bancario: taking out a mortgage (clientebancario.bde.es)
- Banco de España, interest rate statistics: 12-month Euribor (bde.es); Resolución of 1.9.2026 (BOE)
As of 13 October 2026. Loan-to-value ratios and terms are market values, not commitments. This guide is not financial advice.