Spanish mortgages for non-residents in 2026: how much and how
Who this is for: For buyers who live outside Spain, in the UK, Ireland or elsewhere. Where residents get different terms, the text says so.
A common question: will a Spanish bank lend to a foreigner who does not live in Spain? Yes. Spanish banks have lent to non-residents for decades; it is routine. Here is how much they lend, at what rate, and what you need.
In short
Non-residents can usually borrow up to 70% of the price or the bank's valuation, whichever is lower, over 20–25 years. Rates rose in autumn 2026: the 12-month Euribor averaged 3.247% in September, and the best variable offers come out at roughly 3.6–3.9%. You need about 30% of the price from your own funds plus about 12% for taxes and fees: around €84,000 for a €200,000 new build on the Costa Blanca. The stamp duty on the mortgage itself is paid by the bank, not by you.
How much the bank will lend
To a non-resident, a Spanish bank usually lends up to 70%, against 80% for residents. And it lends on the lower of two figures: the purchase price or its own valuation. If the bank values the flat below what you are paying, the loan is based on the valuation.
So you need about 30% of the price from your own funds, plus taxes and fees. On a Costa Blanca new build that is about another 12%. For a €200,000 flat, have around €84,000 of your own money ready: €60,000 deposit and about €24,000 for tax, notary and registry.
What the taxes are, region by region, is in taxes and costs when buying property in Spain.
What rate, and what changed in autumn 2026
There are three kinds of rate: fixed for the whole term, variable (Euribor plus the bank's margin), and mixed (fixed for the first years, variable after that).
The important part: borrowing got more expensive in September 2026. On 10 September the European Central Bank raised its rates by 0.25 percentage points. The 12-month Euribor, which most variable Spanish mortgages follow, averaged 3.247% in September and has stayed around 3.2% in early October. A year earlier, in October 2025, it averaged 2.187%.
In practice:
Variable rate. Euribor of about 3.2% plus the bank's margin. The best offers on the market carry margins of 0.35–0.7%, so the total comes to roughly 3.6–3.9%.
Fixed rate. Offers vary widely between banks and depend on what else the bank asks you to take: salary paid in, insurance, a card. The headline rates you see advertised are the best cases.
These are the best offers on the market. A non-resident's quote depends on the bank and on your file, and the bank gives the real rate only for a specific borrower.
Term and age limit
Mortgages usually run for 20–25 years, up to 30 at some banks. There is an age limit: as a rule, the loan must be repaid by the time you are 70–75. The later in life you borrow, the shorter the term and the higher the monthly payment.
What you need to be approved
The bank looks at your income and your existing debts. The usual market rule is that the mortgage payment should not take more than 30–35% of your income.
You will be asked for proof of income (payslips, tax returns), bank statements and details of any other loans. Documents from your home country must be translated into Spanish by a sworn translator, a traductor jurado; banks do not accept an ordinary translation. We can help you find one.
The costs that come with a mortgage
Valuation. The bank requires its own valuation of the property before lending, and you pay for it.
Arrangement fee. Not every bank charges one; many have dropped it to compete. It is negotiable.
Home insurance. The bank requires it as a condition of the loan.
And two costs you do not pay: the stamp duty on the mortgage deed is paid by the bank, not the borrower, since November 2018. The gestoría's fee for the mortgage paperwork is also on the bank, under the 2019 mortgage credit law.
Start early
Look into the mortgage alongside choosing the property, not afterwards. Approval takes time, and an agreement in principle from the bank makes you a stronger buyer: you know your budget exactly, and you do not lose the property while you wait for an answer.
How the purchase itself works is in buying a new build in Spain. What you will pay every year, and the full budget with worked examples, is in the real cost of buying in Spain.