Mortgage Brokerage for Non-Residents Buying Property in Spain

This page is for international buyers who want a Spanish mortgage for a new-build home on the Costa del Sol. You will learn how much you can borrow, how it works on a new-build, and the costs that have quietly shifted in your favour. Honest answers, in plain language.

Quick summary: Most non-residents can borrow around 60% to 70% of the price, so you need 30% to 40% in cash plus your buying costs. The currency you earn in matters: Polish buyers usually get a mortgage without much trouble, while Czech-crown income is harder and can be capped near 50%. On a new-build you arrange the mortgage close to completion, not years ahead, but you can get a pre-approval early. Good news many buyers miss: since 2019, the bank pays most of the mortgage's own setup costs. We connect you with a mortgage broker we trust to handle all of it.

How much you can borrow

As a non-resident, banks usually lend up to 60% to 70% of the price, whichever is lower against their valuation. The rest comes from your savings, plus your purchase costs on top.

The amount depends on your profile, the property, and the currency you earn in. It is not simply about whether you earn in euros. Spanish banks are fine with most currencies, but they keep a list of ones they are wary of, and the Czech crown is on it.

• Polish buyers usually get the normal 60% to 70%, even though the zloty is not the euro.
• Czech-crown income is the hardest. The crown is one of the currencies Spanish banks do not like, so the most they lend can be around 50%.
• UK buyers are still eligible after Brexit. The criteria are simply a little stricter.

Here is a simple example. On a 500.000 euros new-build, a 70% mortgage is 350.000 euros, so you need 150.000 euros of your own, plus purchase costs of about 12% to 14%. If you earn in a currency the banks are wary of, such as the Czech crown, and the cap is 50%, the loan is 250.000 euros, so you would need 250.000 euros in cash.

Rates and terms

Most non-residents choose a fixed rate, for the certainty of the same payment every month. Through 2025 and into 2026, non-resident fixed rates have ranged from roughly 3% on strong profiles up to around 5%, depending on the bank and your finances.

• Fixed rate. The payment stays the same for the whole term. Popular with foreign buyers who want a predictable budget.
• Variable rate. Tied to the Euribor (the eurozone's base lending rate), so the payment can rise or fall. Fewer non-residents choose it.
• Term and age. Terms are often capped around 20 years, with age limits, so the loan is usually repaid by about age 70 to 75.

Spanish banks active with non-residents include Santander, BBVA and CaixaBank. Each has its own appetite, and it shifts over time, which is exactly where a good broker saves you guesswork.

How a mortgage works on a new-build

Timing on a new-build is different from a resale, and it surprises a lot of buyers.

• You arrange the mortgage near completion, not years ahead. During construction you pay the staged payments from your own funds. The actual mortgage is set up close to completion, usually starting around two months before the title deed.
• The reason is the valuation. The bank's valuation (the tasación) is only valid for about six months, so it has to be done near the end. You pay this valuation fee, and it is one of the few mortgage costs that fall to you.
• You can still plan early. A broker reviews your profile up front and gives you a pre-approval, an honest read on whether you will get the mortgage and roughly how much, before you commit to anything.
• The bank lends against its valuation. It lends a percentage of the lower of the price or its valuation. On a new-build the valuation usually matches the price you agreed, but it is not guaranteed, so a good broker checks the likely figure early. That way there are no surprises near completion.

Warning: A pre-approval is not a final guarantee. The bank checks your situation again near completion, so keep your finances steady in between. Taking on new debt, or changing job, between pre-approval and the title deed can change the offer.

A pleasant surprise: the bank pays most of the mortgage costs

Here is something few buyers know. Since Spain's 2019 mortgage law (Ley 5/2019), the bank, not you, pays most of the cost of setting up the mortgage itself.

• The bank pays the AJD (the stamp duty on the mortgage deed), as well as the notary, the land registry and the gestoría fees for the mortgage.
• You mainly pay the property valuation, which is usually a few hundred euros.

Keep one thing separate in your mind. This is about the mortgage. Buying a new-build still means 10% IVA plus about 1,2% AJD on the purchase itself, which every buyer pays whether they use a mortgage or not. But the mortgage's own setup costs now sit largely with the bank, which is a real saving.

The paperwork, and how long it takes

Spanish banks want a full picture of your finances from your home country, so this is the part to start early.

• Your last two or three years of home-country tax returns, plus recent payslips or company accounts.
• Bank statements, a credit report, and your NIE (the foreigner identification number), which you need before completion.
• Official translations of key documents into Spanish, and sometimes a Hague Apostille, an international stamp that proves a document is genuine abroad.

From a complete application, approval usually takes 4 to 8 weeks. Missing or untranslated documents are the main cause of delay.

How we help

We do not lend money and we are not a bank. We connect you with a mortgage broker we trust, who arranges Spanish loans for foreign buyers every day and knows which banks suit your nationality and income.

To be completely clear about cost: the broker is a third-party specialist, so it carries its own fee, usually around 0,5% to 1% of the loan plus VAT, separate from our buying service, which stays free to you. A good broker earns that fee back by getting you better terms and stopping you from wasting weeks on a bank that was never going to say yes.

Bonus tip: Every property on our website has a mortgage calculator and a cost calculator built in. Before you even speak to anyone, you can estimate your monthly payment and your total costs in a few clicks, so your budget is clear from the start.

Because Spain Developments is independent, we will also tell you honestly when a mortgage does not make sense for you. If the numbers are tight, we will say so. You stay with one trusted advisor who lines up your finances before you fall in love with a home you cannot yet fund.

Conclusion

A Spanish mortgage as a non-resident is very possible, it is just different from home. You can usually borrow 60% to 70%, less if you earn in a currency the banks are wary of, like the Czech crown. On a new-build you arrange it near completion, with a pre-approval early so you know your budget. And since 2019 the bank covers most of the mortgage's own costs. When you are ready, message your advisor at Spain Developments and we will introduce you to our trusted broker, with no buyer fee for our help.