Mortgages in Spain: everything you need to know

Getting a mortgage in Spain is very possible — for residents and non-residents alike. Non-residents typically borrow 60–70% of the property value, residents up to 80%. Terms run up to 25–30 years, and banks want your total loan payments under about a third of your net income.

Start with your situation

• — Non-residents — you live outside Spain. Borrow up to ~70%. The most common route for international buyers.
• — Residents & relocators — you live in Spain or are moving here. Borrow up to ~80% with resident rates.
• — Holiday homes — a place in the sun you'll use part of the year, and maybe rent out the rest.
• — Investment & buy-to-let — how banks treat rental plans, and what works.
• — Self-employed & directors — your income is real; it just needs presenting the way Spanish banks like it.
• — Retiring to Spain — pension income, age limits, and how to structure the term.

How much can you borrow?

Spanish banks lend against two limits and lend you the lower one. First, a share of the property value: 60–70% for non-residents, up to 80% for residents. Second, affordability: all your loan payments together — including loans back home — should stay under roughly 30–35% of your net income. A couple earning €6,000 net a month with no other debts can typically support a payment around €2,000 — a loan in the region of €330,000–€380,000 over 25 years at today's rates. Try the calculator →

What will it cost?

Plan for 10–14% of the purchase price on top, mostly taxes. On a €250,000 resale in the Valencia region: roughly €25,000 in ITP purchase tax plus €4,000–€6,000 in notary, registry, valuation and legal fees. Since Spain's 2019 mortgage law, the bank pays most mortgage setup costs. Full cost breakdown →

What documents do you need?

Passport, NIE number, proof of income, recent tax returns, six months of bank statements, a home-country credit report and a list of existing debts — with variations by bank and nationality. The complete checklist →

How long does it take?

Four to eight weeks from full application to keys: approval in 2–3 weeks, then the valuation, a legally required 10-day reflection period once you receive your binding offer (the FEIN), and signing at the notary. The process, step by step →

What about rates?

Fixed (certainty), variable (Euribor plus a margin), or mixed (fixed first, variable after). Which is cheapest changes with the market; which is right depends on how you feel about surprises. Rates explained in full →