Spanish Mortgages for Foreigners – Your Complete Guide (2025 Update)

By Red Rose Property Spain

Buying a property in Spain is a dream for many international buyers, and it’s becoming more achievable thanks to flexible Spanish mortgage options for foreigners. Whether you’re planning to buy a holiday home in the Costa Blanca, invest in a rental property in Alicante, or relocate to the sunshine of Murcia of Almería, understanding how mortgages work in Spain is essential.

Op Red Rose Vastgoed Spanje, we help buyers from all over Europe and beyond navigate the Spanish mortgage process with confidence. This guide explains everything you need to know.

Can Foreigners Get a Mortgage in Spain?

Yes! Foreigners can apply for and obtain Spanish mortgages, even if they don’t live here permanently. Spanish banks are very open to international buyers, especially in regions with strong foreign investment such as:

• Costa Blanca (Alicante, Torrevieja, Orihuela Costa)
• Costa Cálida (Murcia, Cartagena, Los Alcázares)
• Costa de Almería
• Costa del Sol (Málaga, Marbella, Estepona)
• Granada (Costa Tropical)

Most banks offer competitive Spanish mortgages products specifically designed for non-residents.

How Much Can a Foreigner Borrow in Spain?

The borrowing limits depend on your residency status:

✔ Non-residents (living outside Spain)

• Usually up to 60–70% of the property value
• You must provide proof of income and financial stability

✔ Residents in Spain

• Can often borrow up to 80% of the property value

Banks base the loan amount on the lower of the purchase price and the bank’s official valuation.

What Documents Do You Need?

Foreign buyers must provide:

• Passport or national ID
• NIE nummer (Foreigner Identification Number)
• Recent bank statements
• Tax returns from your home country
• Proof of employment or pension income
• Credit report
• Reservation contract for the property

At Red Rose Property Spain, we guide you through each step so you don’t miss anything. Get your pre-approved mortgage now!

Spanish Mortgages Types Available in Spain

1. Variable-rate mortgage

Linked to the Euribor (European interest rate). Monthly payments can increase or decrease.

2. Fixed-rate mortgage

A popular choice for foreigners.
✔ Stable monthly payments
✔ Excellent for long-term planning

3. Mixed-rate mortgage

Starts with a fixed rate for several years, then switches to a variable rate.

Additional Costs of Spanish mortgages to Consider

When purchasing property in Spain, budget for the following:

• Taxes (IVA or ITP depending on new build/resale)
• Notary fees
• Land registry fees
• Bank arrangement fees
• Property valuation (tasación)
• Legal fees

On average, the buyer pays around 10–14% of the property price in total purchase costs.

Why Foreigners Choose Spanish Mortgages

Many international buyers choose to finance their purchase in Spain for several reasons:

• Low interest rates compared to many other countries
• Ability to keep savings invested at home
• Strong long-term property market, especially in tourist areas like Alicante, Murcia, Torrevieja, Guardamar, and Marbella
• Attractive rental returns

Foreign buyers often find Spanish banks reliable, transparent, and willing to finance non-residents.

Best Areas in Spain for Foreign Buyers Seeking a Mortgage

Alicante & Costa Blanca

One of the most popular areas for UK, Dutch, Belgian, Swedish, and German buyers. Prices remain stable, and demand is strong.

Murcia & Costa Cálida

Known for affordability, golf resorts, and a relaxed lifestyle. Mortgages here are often easier to secure due to good property values.

Almería

Great value for money, ideal for buyers wanting rural villas, fincas, and quieter coastal towns.

Málaga & Costa del Sol

Luxury property market with excellent investment potential, especially Marbella and Estepona.

Tips for Getting a Mortgage Accepted Quickly

✔ Keep debt low before applying
✔ Prepare documents early
✔ Use currency exchange services to save on transfers
✔ Work with a real estate agent familiar with foreign buyer requirements
✔ Choose a lawyer who speaks your language

Op Red Rose Vastgoed Spanje, we connect clients with trusted banks, mortgage brokers, and legal teams to make the process smooth and stress-free.

How Red Rose Property Spain Helps You

We guide you through:

• Finding mortgage options for your budget
• Pre-approval assistance
• Bank introductions
• NIE number guidance
• Property valuations
• Legal checks and due diligence

Buying a home in Spain can feel overwhelming—but with the right team, it becomes an exciting and enjoyable experience.

Conclusion

A Spanish mortgage is an excellent option for foreigners wanting to invest in this beautiful country. Whether you want a beachfront apartment in Guardamar, a golf property in Villamartin, a villa in Quesada, or a holiday home in Murcia, financing your dream home is easier than many people think.

Op Red Rose Vastgoed Spanje, we specialise in assisting international buyers through every step of the journey. We do have now a complete Dutch website and office in Netherlands for our Dutch clients

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Let us help you find the perfect Spanish property—and the perfect mortgage to match.