Mortgages for Non-Residents in Spain in 2026: What Investors Need to Know
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Spain has remained one of Europe’s most attractive destinations for foreign property buyers for several consecutive years. A mild climate, high quality of life, strong rental demand, and relatively accessible entry points into the property market continue to make Spain particularly appealing to investors.
One of the most common questions from international buyers is whether it is possible to obtain a mortgage in Spain without being a resident.
The short answer is yes — but with important conditions.
Let’s review the key points with insights from Estate Barcelona.
Why Spain Continues to Attract Investors
The economic outlook in Spain for 2025–2026 remains positive. The country shows steady GDP growth, high employment levels, and controlled inflation. For the real estate market, the crucial factor is strong aggregate demand, driven not only by domestic buyers but also by active participation from international purchasers.
In regions such as Catalonia, Madrid, Valencia, Andalusia, and the Balearic Islands, foreign buyers account for 20–30% or more of transactions in certain segments — especially in investment-driven and coastal locations.
According to banking institutions and analytical agencies, it is precisely this combination of domestic demand (residents and local buyers) and external demand (non-residents, investors, second-home buyers) that continues to support both the property market and mortgage lending.
The Mortgage Market: Key Figures and Trends
By the end of 2025, approximately 480,000 mortgages were approved in Spain. For 2026, analysts forecast over 500,000 new mortgages, indicating sustained activity in the banking sector.
Average residential property prices increased by around 14–15% nationwide, although it is important to note:
• growth varies significantly by region;
• the strongest price increases are seen in liquid assets located in major cities and tourist areas;
• banks have become more selective, but remain open to foreign buyers.
In effect, the market has moved from a phase of rapid expansion to one of structurally stable demand, which is particularly relevant for long-term investors.
Mortgages as a Property Acquisition Tool
For foreign buyers, mortgages remain one of the most common financing methods in Spain — especially when the purchase is part of a long-term investment strategy rather than a single acquisition, allowing investors to preserve liquidity.
Key Features of Mortgages for Non-Residents
1. Interest Rates
Spanish banks generally view non-residents as higher-risk borrowers, particularly when the property is purchased as a second home or investment.
• Average fixed rates for non-residents (2025–2026): 3.0–3.3%
• For residents: 2.3–2.7%
The difference is justified by the fact that income earned outside Spain is harder to verify, forecast, and legally enforce in the event of default.
2. Loan-to-Value (LTV)
Banks do not finance the full purchase price:
• typically 60–70% of the lower of the purchase price or valuation;
• in some cases, no more than 50%.
This means buyers must have a substantial down payment, as well as additional liquidity to cover taxes and transaction costs.
3. Mortgage Term
For non-residents, banks typically offer terms of up to 20 years. However, 25–30-year terms are possible if certain conditions are met:
• high and verifiable income;
• stable tax residency jurisdiction;
• a clean financial profile with no credit risks;
• borrower’s age meets bank requirements.
4. Additional Costs
Non-resident mortgages include standard banking fees:
• arrangement fee: 0.5–1.5% of the loan amount;
• property valuation: approximately €300;
• mandatory insurance (property, sometimes life);
• early repayment fee: typically up to 0.5%.
Monthly mortgage payments must not exceed 30–35% of total household income. In simple terms, income should be at least three times higher than the monthly mortgage payment.
5. Requirements for Non-Resident Borrowers
Spanish banks usually require:
• proof of income for the last 2 years (EUR, USD, or CHF);
• bank statements for 6–12 months;
• employment history of at least 2 years (minimum 6 months in the current role);
• for entrepreneurs — business activity of at least 1 year;
• age from 21, with full repayment required by 70–75 years (optimal range: 25–50).
6. Compliance and Due Diligence
Spanish banks are conservative and conduct thorough checks on non-residents, including income sources, tax compliance, country of residence, and the stability of the borrower’s profession or business.
Banks are generally most favorable toward EU citizens and applicants from countries with stable economies.
Important Note for Russian Citizens
At present, Russian citizens can obtain a mortgage in Spain only if they hold Spanish residency or citizenship of another country considered acceptable by Spanish banks.
Non-resident Russian citizens without residency cannot currently obtain a mortgage in Spain. In such cases, the issue is not selecting a bank, but structuring the correct legal status.
The Estate Barcelona team helps clients develop a residency strategy aligned with their objectives:
• selecting the optimal type of residence permit;
• assessing how residency status affects banking requirements;
• structuring a framework that enables access to Spanish credit and financial instruments.
Banks Working with Non-Residents
In practice, mortgages for foreign buyers are most often approved by:
• BBVA
• CaixaBank
• Sabadell
• Unicaja
• Bankinter
• Santander
Terms always depend on the client’s profile, income currency, and transaction structure.
Our approach is not to adapt to banking limitations, but to structure conditions in advance so that financial instruments work in your favor. In this context, legal residency is not a formality, but a core element of a broader financial strategy— one that expands access to credit products and makes bank decisions more predictable.
This article is based on statistical data from Idealista and Gloval.
