Property
Spain — Property: Mortgage Availability
Fiscal residents get the best mortgage terms in Spain: LTV up to 80%, the lowest rates, and terms up to 30 years. Non-resident LTVs are capped lower: 60-70% for EU buyers and 50-60% for non-EU buyers. Fixed-rate mortgages for non-residents run 3.8-4.5% (EU buyers) to 4.3-5.2% (non-EU buyers) in 2026; variable-rate options price at Euribor plus a 1.5-2.5% margin, giving an effective rate of roughly 3.8-4.8% (12-month Euribor stood at 2.86% in May 2026, per Banco de España, after closing 2025 at 2.267%). Major lenders (Santander, BBVA, CaixaBank, Sabadell) all refreshed their non-resident mortgage lines in January 2026, including new mixed-rate products. Non-resident applicants typically need: passport and NIE, 3 years of home-country tax returns, 6 months of bank statements, 3 recent payslips (or invoices if self-employed), an employer confirmation letter, any existing mortgage statement, and a home-country credit report.
Key facts
- Fiscal residents: LTV up to 80%, best rates, terms up to 30 years.
- Non-resident LTV caps: 60-70% (EU buyers), 50-60% (non-EU buyers).
- 2026 non-resident fixed rates: 3.8-4.5% (EU), 4.3-5.2% (non-EU); variable: Euribor + 1.5-2.5% margin (~3.8-4.8% effective).
- 12-month Euribor: 2.86% (May 2026), up from 2.267% at end of 2025 (Banco de España).
Timelines
- Standard mortgage term (residents): Up to 30 years
Required documents
- Passport
- NIE
- 3 years of home-country tax returns
- 6 months of bank statements
- 3 recent payslips or self-employed invoices
- Employer confirmation letter
- Home-country credit report
Common mistakes
- Assuming non-resident LTV caps match resident terms — non-residents face materially lower LTV ceilings.
- Not budgeting for the wider fixed-rate spread non-EU buyers face relative to EU buyers.