Getting a Mortgage in Spain as a Non-Resident (2026)

LTV ratios for non-resident buyers

Spanish banks offer non-resident buyers a maximum loan-to-value (LTV) of 60-70%, compared to 80% for residents. This means you need a minimum down payment of 30-40% of the purchase price, plus approximately 10-13% for acquisition costs (taxes, notary, legal fees). For a EUR 300,000 property, expect to bring at least EUR 120,000-150,000 in equity.

Some banks offer slightly higher LTV for properties in prime locations (Costa del Sol beachfront, major cities) or for clients with substantial income and assets. However, 70% is the practical maximum for most non-resident applications.

Interest rates (per Q2 2026)

Spanish mortgage rates are typically variable, tied to the 12-month Euribor plus a bank-specific spread. As of Q2 2026:

Rate type	Range	Typical structure
Variable rate	3.5-4.5%	Euribor 12M + 1.5-2.5% spread
Fixed rate	3.0-4.0%	Fixed for full term (15-25 years)
Mixed rate	2.5-3.5% initial	Fixed 2-5 years, then variable

Fixed-rate mortgages have become more popular since 2020 and now represent over 70% of new mortgages in Spain. For non-residents, fixed rates provide certainty against Euribor fluctuations. However, variable rates offer lower initial payments if you expect Euribor to decrease.

Banks that work with non-residents

Not all Spanish banks actively serve non-resident buyers. The most established options for Dutch buyers:

Sabadell (Solbank division): Dedicated non-resident mortgage department. English and sometimes Dutch-speaking advisors on the Costa del Sol and Costa Blanca. Typically offers 60-65% LTV with competitive spreads.

CaixaBank: Spain's largest bank. Has international mortgage teams in major coastal offices. Can offer up to 70% LTV for strong profiles. Extensive branch network means good local support.

BBVA: Strong digital presence and English-language support. Competitive fixed rates. International mortgage desk based in Madrid with regional support.

Santander: Offers non-resident mortgages through select branches. Sometimes the most competitive on interest rates but can be slower on processing.

UCI (Union de Creditos Inmobiliarios): Joint venture between BNP Paribas and Santander, specializing in non-resident mortgages. Often handles cases that mainstream banks decline.

Required documents

The documentation requirements for non-resident mortgage applications are extensive. Prepare the following before approaching a bank:

Identity and tax: Valid passport, NIE number (or proof of application), last 3 years of Dutch tax returns (IB aangifte), recent income statement from the Belastingdienst.

Income proof: Last 3 months of salary slips, employment contract, or if self-employed: last 2 years of annual accounts (jaarrekening), accountant's report, and KvK extract.

Financial position: Last 6 months of bank statements (all accounts), proof of savings/investments sufficient for down payment and costs, overview of existing debts and mortgages.

Property: Signed reservation contract or pre-agreement, nota simple of the property (your lawyer obtains this), property valuation (bank arranges this).

The stress test

Spanish banks apply a debt-to-income stress test: your total monthly debt payments (including the new Spanish mortgage) should not exceed 30-35% of your net monthly income. The calculation includes any existing mortgage in the Netherlands, car loans, and other recurring obligations. Banks typically stress-test at a rate 2-3 percentage points above the current rate to ensure affordability if rates rise.

Timeline

From initial application to mortgage approval typically takes 4-8 weeks. Add 2-4 weeks for the valuation and final documentation. Total timeline from application to notary signing: 6-12 weeks. Start the process early, ideally before signing a purchase contract. Your broker or lawyer can recommend a mortgage broker who specializes in non-resident applications.

Use our pre-check calculator to estimate your borrowing capacity based on your income and existing obligations.

All figures as of Q2 2026. Rates are indicative and subject to change. Zaminor provides information only, not financial advice. Source: Banco de Espana, European Central Bank