Real answers to the questions international buyers ask most.
Regulated by the Bank of Spain · ICI E156
Eligibility
Before you start
No. Non-residents can get mortgages in Spain. The terms differ — typically up to 70% LTV compared with 80% for residents — but the process is well established. We work with non-resident buyers every day. These are typical figures, not rules: some banks go higher or lower, and pure investment purchases are usually financed at around 60%. Check your mortgage viability for free →
No. Buyers from outside the EU — including the UK (post-Brexit), the US, Canada and the Middle East — regularly obtain mortgages in Spain. Each nationality has specific documentation requirements that we help you navigate.
Yes, provided the income — pension, investments, rental income — meets the bank's affordability criteria. Banks assess the loan term based on age at maturity, so the structure may differ from a standard case.
Yes, though banks require more documentation — typically two to three years of accounts, tax returns and evidence of income stability. This is one of the profiles we specialise in. Self-employed mortgages in Spain →
Most banks finance up to 70% of the property value (or valuation, whichever is lower) for non-residents, so you would typically need at least 30% plus buying costs. Exact figures depend on your profile and the bank.
Financing strategy
Mortgage vs paying cash
There can be financial and fiscal advantages to financing rather than paying outright, including preserving liquidity, potential tax efficiencies and leveraging low rates. Each case is different — the right answer depends on your full financial picture. Why a mortgage and not cash →
Potentially, depending on your tax residency, the property use (primary home, rental, holiday) and the jurisdiction. For your specific situation, a qualified tax adviser is the right person to ask.
Mortgage structures
Types of mortgage
The main types are fixed-rate (tipo fijo), variable-rate (tipo variable, linked to Euribor) and mixed (fixed for an initial period, then variable). Each has trade-offs depending on your plans and risk appetite. Mortgage types explained →
It depends on your risk appetite, how long you plan to hold the property and current market conditions. We compare offers across all three structures so you can decide with full information.
Interest-only mortgages are extremely rare in the Spanish market. Most banks require full capital repayment (amortisation) over the loan term. If this is important to you, we can explore the limited options available.
Equity release products (hipoteca inversa) exist but are uncommon and subject to strict conditions. They are typically available only to residents over 65. We can assess whether this applies to your situation.
Euribor (Euro Interbank Offered Rate) is the benchmark rate that variable and mixed mortgages in Spain are linked to. When Euribor rises, variable-rate payments increase; when it falls, they decrease. Your mortgage review date determines when changes apply.
Banks often offer better rates in exchange for taking additional products — life insurance, home insurance, direct debit of salary, credit card. Spanish law (LCCI 2019) limits what can be required versus what is optional. We explain the real cost of each tie-in so you can make an informed choice. Understanding bank product tie-ins →
Rates
Rates and conditions
Generally yes — non-resident rates tend to be slightly higher than resident rates, reflecting the bank's perceived risk. The difference varies by bank and profile.
Beyond rates, the main differences are LTV (typically 70% versus 80%), additional documentation requirements and a smaller pool of banks willing to lend. With the right preparation, these are manageable.
Step by step
The process
Typically three to four months from first conversation to signing at the notary. The timeline depends on documentation readiness, property search duration and bank processing times. The mortgage process in Spain →
The standard list includes passport, proof of income (payslips or accounts), tax returns, bank statements, credit report from your country and proof of deposit. Self-employed buyers and company directors need additional documentation. We provide a personalised checklist based on your profile.
The FEIN (Ficha Europea de Información Normalizada) is a standardised document the bank must give you at least 10 days (14 in Catalonia) before signing. It contains all the binding terms of your mortgage — rate, fees, total cost. Under Spanish law (LCCI 2019), you cannot sign without it.
A nota simple is an extract from the Land Registry confirming who owns the property, its description and any charges or liens. It is essential before any purchase. What is a nota simple →
Yes. The NIE (Número de Identidad de Extranjero) is required for any financial or property transaction in Spain. You can apply at a Spanish consulate abroad or in Spain. How to get your NIE →
Costs
What it costs
Expect additional costs of roughly 10-15% of the purchase price: transfer tax (ITP) or VAT (new builds), notary fees, land registry, legal fees and mortgage-related costs (valuation, arrangement fee, insurance). The exact percentage varies by region. Full breakdown of buying costs →
Yes, significantly. Transfer tax (ITP) ranges from 6% to 11% depending on the autonomous community. Some regions offer reduced rates for specific cases. Buying costs by region →
Our fee is regulated under Spanish law and is payable only upon successful mortgage completion — never upfront. The initial consultation and personalised buyer dossier are free.
After closing
After the purchase
Non-resident property owners in Spain pay annual income tax on imputed rental income (even if the property is not rented) and local property tax (IBI). If you rent the property, rental income is taxed separately. For your specific obligations, a qualified tax adviser is the right person to ask. Non-resident tax guide →
If you earn in GBP, USD or another currency but pay your mortgage in EUR, exchange rate movements directly affect your monthly cost. This is why we coordinate with currency exchange specialists from the start. Currency and your mortgage →
Yes. Refinancing (subrogación or novación) is possible and regulated. Early repayment fees are capped by law. We can review your options at any time after purchase — this is part of our After the Keys programme.
Ownership
Buy vs rent
It depends on your plans — how long you intend to stay, whether the property is for personal use or investment and your financial situation. We can help you understand the financial case for each option.
Yes, but rental regulations vary by region and some areas require a tourist licence. There are also tax implications for non-resident landlords. Check local rules before committing.
About us
Why Dream Nest
A broker compares offers from multiple banks, presents your case professionally and negotiates terms you may not get walking in alone. For international buyers especially, having someone who understands both your profile and the Spanish banking system saves time, money and stress. Why use a mortgage broker →
We work with a wide range of banks but we are selective — we present your case where it has the best chance of success, rather than sending applications everywhere. The point is knowing where your case makes sense.
Currency
Currency exchange
We coordinate with Moneycorp, a regulated currency exchange provider, to help you manage transfers efficiently. Exchange rates can significantly impact the real cost of your purchase. Currency exchange for buyers →
Get your free project dossier in PDFPersonalised pricing based on your property and profile — no fixed fees, because no two cases are the same.