Spanish Finance and Mortgages.

If you are buying a property in Spain or from an Estate agent we can arrange a free mortgage quote through our partner Mortgage Direct.

Please Note: Spanish banks will generally loan from €50.000 upwards, please do not enquire if you require less than €50.000, get your free no obligation quote now No Obligation Quote

Spanish mortgages are a specialist subject, requirements and rates differ from bank to bank and can even differ from property to property!

With this in mind we do not profess or wish to be specialists in Spanish mortgages, you should check with the bank or lender at the time of your property purchase for current information.

Bank repossessions are frowned upon by many Estate Agents as they are a threat to their business, they don’t like it because they are unable to add inflated commissions to the price, private sellers also suffer because of competition and the banks are making it difficult to compete in a strained market. The fact that the banks have many properties to move off their books points to the fact that the situation may be around for a while yet.

If you require a Spanish Mortgage for a bank repossession property you have the added advantage of a mortgage being pretty much guaranteed from the bank you are buying it from, all that is required is the approval.

The lending rates differ but are based on LTV (Loan to value) most banks are happy to lend up to 70% of the value of a property (not the price you pay) so the percentage you will have to find can differ depending on the individual property. This will all be explained to you on the day of your viewing by your property adviser.

Keep in mind that it is not possible to add your buying costs to a Spanish mortgage. Buying costs such as lawyers fees, Notary fees and taxes can amount to between 10% to 15% of the property cost.

Residents Mortgage in Spain

Generally speaking you will need a 20% deposit to secure a Spanish Resident’s mortgage but many of the lenders are willing to lend you up to 90% of the value of the property, in some cases and dependent on the valuation of the property 100% can be possible.

The larger the deposit you have the quicker and easier it will be for the Banks to agree a mortgage. If you can raise the 20% deposit it will make the process easier as well as making the repayments less.

Non Residents Mortgage in Spain

As a non resident of Spain you are usually able to borrow up to 70% of the value of the property.

Many people prefer to raise funds in their home country where they are more likely to have assets. Cash sales for property in Spain is also on the increase.


Interest rates on most Non Resident Mortgages are linked to the central base rate in Europe, the Euribor so this will be a factor in any changes to the monthly repayments.

As in any Country there are Tax Implications when you own a property in Spain and having a Non Resident Mortgage may or may not help your tax position as a foreign property owner, so check this out with your adviser.

If you are buying a resale property from an individual or estate agent that is not a bank repossession then getting a mortgage is still possible through our partner Mortgage Direct SL, 60% – 70% would be realistic, mortgages are available from €50.000 and upwards.