Mortgages for non-residents in Spain

Spanish banks want your money but do not trust you. If you live outside Spain and want to buy property here, you can get a mortgage. But the terms are worse than for residents: less financing, higher rates, and most banks want nothing to do with you. Here is what actually happens, based on real experiences from people who have been through it.

The rules are different

As a non-resident, banks put you in a higher risk category. It does not matter how much you earn or how solvent you are. Your tax residency postcode defines your conditions. As one community member living abroad noted: "If you don't live in Spain, the mortgage conditions are worse."

The main differences:

• Maximum financing: 60-70% of the appraised value (vs 80% for residents). Some banks cap it at 60% for non-EU residents.
• Higher interest rates. 0.5 to 1 percentage point more than a resident with the same profile. Same bank, same real risk, worse price.
• Fewer banks available. Many banks simply refuse to serve non-residents. Those that do have specialised departments — and slow processes.
• Shorter maximum terms. Some banks limit non-residents to 20-25 years.

Banks that work with non-residents

Based on forum experiences (2025-2026 data):

• Sabadell: Has a non-resident department. Works with both EU and non-EU citizens.
• CaixaBank: Accepts non-residents, though the process is slow. One user reported getting 60% financing as a non-resident EU citizen.
• Bankinter: Works with high-income non-resident profiles.
• BBVA: Accepts some non-resident profiles, especially those who domicile income.
• Rural savings banks (cajas rurales): Some accept non-residents in coastal areas with high foreign demand.

One non-resident user in online communities shared: "I'm using a broker from outside Spain, and they are giving us a lot of problems despite having provable income and solvency."

Extra documentation required

Banks ask non-residents for twice the paperwork. On top of the standard documents, you will need:

• NIE (Numero de Identidad de Extranjero): the foreigner identification number, mandatory for any transaction. See the NIE guide for details.
• Tax return from your country of residence (or equivalent): banks need to verify your income at source.
• Employment certificate and payslips translated into Spanish (sometimes with apostille or sworn translation).
• Bank statements from your country: typically the last 6-12 months.
• Certificate of non-tax-residency in Spain: to prove your fiscal status.
• Preliminary purchase agreement (contrato de arras) or reservation contract.

Income in foreign currency is converted to euros, and some banks apply a discount to the exchange rate as a safety margin. A user earning in Swiss francs noted: "My income is high but in CHF, and they don't count those earnings the same way once foreign tax is factored in."

Tax obligations as a non-resident

If you buy as a non-resident, your tax obligations differ:

• IRNR (Impuesto sobre la Renta de No Residentes / non-resident income tax): you pay 19% (EU nationals) or 24% (non-EU) on rental income.
• IBI (property tax): same as residents.
• Plusvalia municipal (capital gains tax on land value increase): same as residents when you sell.
• Wealth tax (Impuesto sobre el Patrimonio): depends on the region and property value.

Specialised brokers

For non-residents, a broker can make a real difference. The large online brokers do not handle these cases well. But specialised brokers know which banks operate with non-residents, which departments to contact, and how to package an application so it does not end up in a drawer.

One specialist noted: "We specialise in mortgage financing for investors but handle mortgages for all profiles — non-residents, civil servants, employees, self-employed."

Practical advice

Start the process before you find the property. Get a pre-approval or at least an estimate of what you can borrow. As a non-resident you will need more cash on hand — at least 30-40% between down payment and costs. Timelines are longer than for residents. And nobody is going to speed things up because you are a good client.