Mortgage for foreigners in Spain in 2026
Spanish banks lend to non-residents: 60-70% of the value for up to 20-25 years at 3-4.5% a year. On top of the deposit you need another 10-12% of the price for taxes and costs.
Yes. Spanish banks give mortgages to non-residents: usually 60-70% of the lower of the price or the valuation, for up to 20-25 years. Rates in 2026 are about 3-4.5% a year. You do not need residence for the loan, and the purchase itself no longer gives it.
| Key facts | 2026 |
|---|---|
| Non-residents | eligible, no residence permit needed |
| Deposit | 30-40% of the value plus 10-12% for taxes and costs |
| Rate | about 3-4.5% a year, more often fixed |
| Term | up to 20-25 years, repaid by the borrower's 70-75th birthday |
| Loan currency | euro |
| Debt burden | all loan payments no more than 30-35% of net income |
| Tax on purchase | 6-10% on resale homes, 10% plus stamp duty on new builds |
| Residence for buying | not granted since 3 April 2025 |
Data checked: 07.10.2026
Spain is one of Europe's most open mortgage markets for buyers from other countries: banks lend to non-residents under separate programmes, with the flat itself as security. You need a foreigner's identification number, a Spanish bank account, proven income and a valuation.
The terms for a non-resident are stricter than for a resident: the bank gives not 80% but 60-70% of the value, and for a shorter term. You need noticeably more of your own money than the deposit: taxes and transaction costs, 10-12% of the price, are not financed. Below: which banks work with foreigners, what income is needed, how the deal goes and what it costs.
We will calculate online the full purchase cost for your budget: taxes, fees and transaction costs.
Which banks lend to foreigners in Spain
| Bank | Who qualifies | Terms |
|---|---|---|
| Santander | non-residents with income abroad | a separate non-resident programme, usually up to 60% of the value |
| BBVA | non-residents and residents of Spain | up to 70% of the value for non-residents, in some cases a term of up to 30 years |
| CaixaBank, Sabadell, Bankinter | non-residents; each bank has its own terms and list of countries | usually 60-70% of the value, fixed or mixed rate |
| Specialist mortgage lenders | borrowers with complex income | a higher deposit and rate than at a bank |
The bank calculates the loan from the lower of two figures: the contract price or the valuation. The valuation is done by an independent company registered with the Bank of Spain, and if it is below the price, the buyer pays the difference.
The rate can be fixed, variable, tied to the eurozone interbank rate, or mixed: fixed for the first years, then variable. Non-residents are more often offered a fixed rate, which protects against rising payments.
The best terms come with linked products: life and home insurance, income paid into the account. You can decline them, but the rate will rise.
Income requirements and documents
The bank assesses income abroad: tax returns for 2 years, a salary certificate or business accounts, bank statements and a credit report from your country of residence. Income not in euros is counted with a margin for exchange rate swings, so the loan comes out smaller.
The key figure is the debt burden: all monthly loan payments, including the future mortgage and loans at home, must not exceed 30-35% of net income. An employee on a permanent contract is approved more easily than an entrepreneur.
Documents for the application:
- a passport and a foreigner's identification number
- a Spanish bank account
- tax returns for the last 2 years
- a salary certificate and employment contract, or your business accounts
- bank statements for 6-12 months
- a credit report from your country of residence
- details of assets and other loans
- the preliminary contract for the flat and a land registry extract
Documents are filed with a sworn translation into Spanish. Get the bank's approval before paying the deposit: it is usually 10% of the price, and as a general rule the buyer loses it on withdrawing from the deal.
How a mortgage purchase works: steps
- Obtain a foreigner's identification number and open a Spanish bank account.
- Submit income documents and get approval in principle for the amount.
- Choose a flat, check it in the land registry and sign a preliminary contract with a deposit.
- Order the valuation and receive the bank's binding offer with the loan terms.
- Wait the 10 days allowed to study the terms and visit the notary, who explains the contract free of charge.
- Sign the deed of sale and the mortgage before the notary on the same day, pay the tax and register title and the charge.
The ten days between the bank's offer and signing are given by law to protect the borrower: during that time the notary checks that you have understood the terms and records it. You cannot sign earlier.
From approval to completion usually takes 6-8 weeks. A representative with a notarised power of attorney can sign, but banks more often ask for you to attend in person.
Costs of buying and owning
| Item | Cost |
|---|---|
| Property transfer tax, resale homes | 6-10% of the price, set by the region |
| New build | 10% VAT plus stamp duty at the regional rate |
| Notary and land registry for the deed of sale | about 1% of the price |
| Property valuation for the bank | ~$350-680 |
| Bank's loan arrangement fee | 0 to 1% of the amount |
| Home and life insurance | every year, at the insurer's rate |
| Our support | a manager will calculate it in the chat |
The main cost is the tax on purchase. On the resale market it is property transfer tax: 6% in Madrid, 10% in Catalonia. On a new build you pay 10% VAT plus stamp duty at the regional rate. On a $190,000 flat in Madrid the tax is about $12,000.
On the mortgage deed the notary, the registry and the stamp duty are paid by the bank; the borrower pays only for the valuation. The early repayment fee is capped by law: on a variable rate no more than 0.25% in the first 3 years, on a fixed rate no more than 2% in the first 10 years.
A non-resident owner pays municipal property tax every year and non-resident tax on deemed income from the home, even if it is not let. Selecting a rental property is covered on the page about investment property in Spain, and prices and the purchase process in the article on buying an apartment in Spain.
In Spain the mortgage is approved before the deposit, not after
The law does not prevent you from applying to a bank on your own. But mistakes cost more than the fees: a valuation below the price leaves you short of part of the loan, a deposit paid before approval stays with the seller, and the previous owner's debts for tax and building charges pass with the flat. We arrange the foreigner's number and the account, match the bank to your income and country, check the flat in the registry and see the deal through to signing before the notary.
The support fee depends on the purchase budget and the goal - a home, rental income or residence; a manager will calculate it in the chat.
Does buying property give residency in Spain
No. Residence for buying a home is closed: no new applications have been accepted since 3 April 2025. A flat of any value, bought with a mortgage or with your own money, gives no right to live in Spain.
Other grounds suit a homeowner: residence without the right to work for those living on passive income, and the digital nomad visa for remote work. In both cases your own home helps to prove an address. More in the article on how to get residency in Spain and on the page about the digital nomad visa.
Restrictions for specific nationalities
Banks give citizens and residents of EU countries the best terms: up to 70% of the value and a longer term. Borrowers from other countries are more often approved for 50-60%, and income not in euros is discounted.
Citizens of Russia and Belarus without an EU residence permit are in practice not given mortgages: EU banks are barred from accepting deposits of more than $120,000 from them, and accounts are rarely opened without residence. With a residence permit of Spain or another EU country the application is considered on the general terms, but the source of funds check takes longer.
A tax of up to 100% of the value for buyers from non-EU countries who do not live in Spain has been discussed since January 2025, but no law has been passed: in 2026 purchases are taxed at the ordinary rates.
The alternative: developer instalment plans
On a new build you pay to a schedule: a reservation, then 20-30% of the price in stages during construction and the balance on handover of the keys, which is the part a mortgage covers. The developer must protect the buyer's advances with a bank guarantee or insurance: if the building is not delivered, the money is returned.
Interest-free instalments after handover, as in Turkey or the UAE, hardly exist in Spain. So those refused by a bank are left with buying for cash or a loan secured on property in their own country.
This topic in other countries
Mortgages for foreigners in other countries:
- Mortgages for foreigners in Georgia in 2026
- Mortgages for foreigners in Serbia in 2026
- Mortgages for foreigners in Kazakhstan in 2026
- Mortgages for foreigners in Turkey in 2026
- Mortgage for foreigners in the UAE in 2026
- Mortgage for foreigners in Thailand in 2026
- Mortgage for foreigners in Armenia in 2026
About this country:
- Buying an apartment in Spain: prices, taxes and residency
- Investment property in Spain
- How to get residency in Spain
- Spain digital nomad visa
- Taxes in Spain
- Madrid: a relocation guide
- Barcelona: a relocation guide
- Personal bank account in Spain
- Cost of living in Spain
FAQ
Can foreigners get a mortgage in Spain?
What deposit does a non-resident need for a mortgage in Spain?
What are mortgage rates in Spain in 2026?
What income is needed for a mortgage in Spain?
Does buying a flat with a mortgage give Spanish residency?
What taxes are paid when buying a home in Spain?
Can a mortgage in Spain be repaid early?
How long does a mortgage deal take in Spain?
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