Mortgage Guide for Foreign Buyers in Spain | R E C
Mortgage Guide for Foreigners Buying Property in Spain
Can you get a mortgage in Spain as a foreigner? Absolutely. At R E C, we’ve helped many international buyers secure financing — whether they’re residents, non-residents, or buying remotely.
1. Who Can Apply for a Mortgage in Spain?
Both residents and non-residents can apply. Non-residents (who spend less than 183 days/year in Spain) can usually borrow up to 60–70% of the property price, while residents may access up to 80%.
2. Main Requirements
- Valid passport and NIE number
- Proof of income (salary slips, tax returns, or accountant letters)
- Bank statements (last 3–6 months)
- Employment contract or pension certificate
- Credit report (from home country)
3. What Costs Are Involved?
- Valuation fee: €300–€600
- Opening fee: Often 1% of loan
- Notary & registry fees: Usually covered in buyer’s purchase costs
4. How Long Does It Take?
The full mortgage approval process usually takes 3 to 6 weeks depending on the bank and complexity. Pre-approval can be faster and gives you more negotiating power when making an offer.
5. Fixed or Variable Rates?
Spanish banks offer both. Fixed-rate mortgages are popular with foreigners for their stability. Variable rates (linked to Euribor) can be cheaper initially, but carry more risk long-term.
How R E C Can Help
We connect you with trusted mortgage brokers and banks that specialize in foreign clients. We also help with document preparation, translations, and negotiating better terms — all in your language, with full transparency.
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