How non-resident mortgages work in Spain
A non-resident mortgage in Spain is a mortgage where the borrower has Spanish tax residency in another country. The applicant's country of residence affects which Spanish banks will lend, the maximum LTV, the documentation required and the interest rate offered. Spanish banks typically distinguish between EU/EEA residents (most favourable terms), UK residents (post-Brexit special process), other Western country residents (US, Switzerland, Norway) and rest of world (subject to additional documentation).
Maximum Loan-to-Value (LTV) is typically 60–70% on the appraised value (not necessarily the purchase price). Terms run up to 25–30 years subject to maturity age limits (typically loan ends before borrower turns 75–80).
Documentation required
- Passport and NIE.
- Last 3 payslips or last 2 years self-employed accounts.
- 6 months bank statements (personal + business).
- Last 2 years personal tax returns.
- Credit report from country of residence.
- Property reservation contract (arras) when offer in motion.
- Sworn translation of all foreign-language documents.
Typical timeline
Pre-approval: 7–10 days from full submission. Full underwriting after arras signed: 4–8 weeks. Total typical timeline from initial enquiry to notarial signature: 10–14 weeks. We use a private contract (arras) early to lock the property while the bank process runs.
Rates and fees
Current rates for prime non-resident applicants: fixed 2.7–3.8%, variable Euribor 12M + 1.0–2.0%, mixed 2.5–3.2% fixed for 5–10 years. Bank arrangement fee: 0.5–1.0% (often waived for prime clients). Valuation: €350–€600. Our brokerage fee: fixed, disclosed in writing.
Common borrower profiles
We commonly arrange mortgages for UK Ltd company directors, EU employees relocating to Spain, US-based investors, Swiss professionals, and UAE-based expats. Each profile has specific lender preferences and documentation peculiarities.