Non-resident mortgages in Spain
Secure a non-resident mortgage in Spain — fast, clear, and in English. Whether you’re from the UK, US, EU, or beyond, our English-speaking team guides you from application to completion with expert support.
Buying property in Spain as a non-resident
Spain is one of the most popular property destinations in Europe, attracting buyers from the UK, US, Europe, and further afield. Sunny weather, great connectivity, and strong lifestyle appeal make Spanish real estate a top choice for second homes, investments, or future retirement plans.
But when you’re not a Spanish resident, securing a mortgage can feel complicated. Non-resident mortgages come with stricter rules, higher deposits, and more paperwork than mortgages for residents. Banks often limit how much you can borrow, and each lender has its own requirements.
That’s where Baleario comes in. We specialise in helping expats and foreign buyers get access to non-resident mortgages in Spain. With our English-speaking team, strong relationships with Spanish banks, and decades of experience, we make the process clear and manageable from start to finish.
What is a non-resident mortgage?
A non-resident mortgage is designed for buyers who spend less than 183 days a year in Spain or whose main tax base is outside the country. For example, this could be a British couple buying a holiday villa, an American digital nomad investing in an apartment, or a German family purchasing a rental property.
Key features of non-resident mortgages in Spain include:
- Loan-to-value ratios: Banks usually lend 60–70% of the property purchase price (residents can often borrow up to 80%).
- Mortgage terms: Most mortgages run for 20–25 years, though the exact term depends on your age and the bank’s policies.
- Interest rates: Both fixed and variable rates are available. Variable mortgages are tied to the Euribor plus a bank margin (typically 1–2%). Fixed rates offer security but may be slightly higher.
- Currency and income: If your income is in a foreign currency (USD, GBP, CAD, SEK, etc.), banks may apply stricter conditions to manage exchange rate risks.
In short: non-resident mortgages are accessible, but you need expert support to secure the best terms.
Why non-resident mortgages work differently
When lending to non-residents, Spanish banks are taking on more risk. Your income may be abroad, your credit history may be harder to verify, and you may not have ties to Spain. Because of this, lenders apply extra conditions:
1
Higher deposits
Expect to contribute at least 30–40% of the property value.
2
More documentation
Proof of income, tax returns, credit reports, and an NIE number are required. For US citizens, FATCA forms add extra complexity.
3
Foreign exchange risk (LTV) ratios
If you earn in a currency other than euros, banks may limit the mortgage term or require additional guarantees.
4
Different fees
As with all Spanish mortgages, you’ll need to budget for valuation fees, notary fees, land registry, and taxes — though recent law changes mean most arrangement costs are now paid by the bank.
Try our mortgage calculator and see how much your repayments will be.
How Baleario helps international buyers
Securing a mortgage abroad can be stressful — especially when you don’t speak the language or understand the local rules. At Baleario, we take away the guesswork.
English-speaking support
Clear advice and guidance in your language.
Bank relationships
We know which banks lend to non-residents from the UK, US, EU, and beyond.
Document preparation
From NIE applications to income proof, we ensure everything is correct the first time.
Cross-border expertise
We understand double taxation agreements, foreign income reporting, and how to align your mortgage with your home country’s tax system.
End-to-end service
From pre-approval to signing at the notary, we handle the details so you can focus on choosing your property.
With more than 20 years of experience, Baleario is your trusted partner in securing a non-resident mortgage in Spain.
Contact us and let's talk mortgages!
Have questions? Fill out the inquiry form and we will get back to you within 24 hours.
Get in touch with our team of experts today!
- +34 871 51 00 55
- hola@baleario.com
- La Rambla, 13, 07003 Palma, Illes Balears
Nationalities we work with
Every nationality faces slightly different rules when applying for a Spanish mortgage. Here’s how it works for the most common groups we support:
UK & Ireland
Despite Brexit, British and Irish citizens remain the largest group of non-resident buyers in Spain. Banks are familiar with UK income documentation, though proof of tax compliance is essential. LTVs are typically up to 70%.
US citizens
Americans face extra hurdles due to FATCA reporting requirements. Fewer banks are willing to lend, and documentation is more complex. We know which lenders accept US applicants and help with IRS transcripts, W-9 forms, and additional paperwork.
EU/EEA citizens
Buyers from Germany, France, the Nordics, and the Benelux countries often face smoother processes, as EU financial regulations are aligned. LTV ratios are usually 65–70%.
Other international buyers
From Canada and Switzerland to Latin America and the Middle East, buyers outside the EU may face stricter AML checks and require certified translations of income documents. We guide you through the process step by step.
Types of non-resident mortgages
Non-residents have access to the same core mortgage types as Spanish residents, though terms may be stricter:
Fixed-rate mortgages
predictable monthly payments, offering peace of mind.
Variable-rate mortgages
tied to the Euribor, they can offer lower rates initially but carry more risk if rates rise.
Mixed mortgages
combine fixed and variable rates, starting with stability and later switching to flexibility.
Specialist cases
such as self-employed non-residents, retirees, or buy-to-let investors.
We compare options across banks to help you choose the structure that best suits your situation.
Non-resident mortgage terms at a glance
1
Loan-to-value (LTV): 60–70%
2
Deposit required: 30–40% of property value
3
Terms: Up to 25 years (sometimes 30, depending on age and bank)
4
Documentation: Passport, NIE number, proof of income, credit report, recent tax returns
5
Extra costs: Valuation fees, notary, registry, mortgage tax, stamp duty
Common questions about non-resident mortgages in Spain
How much can non-residents borrow in Spain?
Most banks lend 60–70% of the property’s purchase price. Residents can borrow more, but non-residents usually need a larger deposit.
Can I get a Spanish mortgage if my income is in a foreign currency?
Yes, but banks may apply stricter conditions. Proof of stable income is essential, and some lenders prefer euro-denominated salaries.
How long does approval take?
Typically 4–8 weeks, depending on the bank and how quickly you provide documents. Pre-approval is strongly advised before making an offer.
Do I need an NIE number?
Yes, all non-resident buyers must have an NIE (foreigner ID number) to purchase property or apply for a mortgage in Spain.
What additional costs should I expect?
In addition to your deposit, you’ll need to pay for valuation, notary, land registry, and taxes. Most arrangement costs are now covered by the bank.
Do US citizens face different rules?
Yes. FATCA compliance means fewer banks are open to US clients. Additional IRS documents and tax disclosures are required, which is why expert guidance is essential.
Start your Spanish property journey today
Buying property in Spain as a non-resident doesn’t have to be complicated. With the right advice and the right connections, you can secure a competitive mortgage and enjoy all the benefits of owning a home in Spain.
At Baleario, we combine local knowledge with international expertise to make the process simple, clear, and stress-free. Whether you’re from the UK, US, EU, or beyond, we’ll help you finance your property with confidence.
Get in touch today to discuss your non-resident mortgage in Spain.