Mortgages in Spain for Non-Residents
Spanish banks offer competitive mortgages for non-resident buyers. Understanding the requirements can help you secure funding for your house in the Axarquía.
1. LTV (Loan-to-Value) Limits for Non-Residents
While Spanish residents can borrow up to 80% of the property value, non-residents (including Belgian and Dutch residents) are generally capped at 60% to 70% of the purchase price or valuation (whichever is lower).
This means you must cover the remaining 30% to 40% plus the 11% purchase costs using your own capital.
2. Document Requirements
To apply, you will need to submit: your last 3 payslips, your national tax return, bank statements showing salary deposits, credit reports from your home country, and a copy of your NIE number.
Frequently Asked Questions
Can I get a fixed-rate mortgage in Spain?
Yes, Spanish banks offer both variable, mixed, and fixed-rate mortgages, though fixed rates for non-residents may carry slightly stricter conditions.