Buying property in Barcelona as a non-resident is entirely possible — but it’s important to understand how mortgages in Spain work. The process, conditions, and requirements can differ from those in other countries. This guide is tailored for foreign buyers, who want to finance their purchase with a Spanish mortgage.
1. Can non-residents get a mortgage in Spain?
Yes, they can. Spanish banks offer mortgage loans to non-residents who want to purchase property in Spain. However, the terms are generally more conservative than for Spanish residents. Typically, non-residents can borrow up to 60–70% of the property’s value, meaning buyers need to provide a 30–40% down payment from their own funds.
To qualify, foreign buyers must prove a stable income and financial solvency, usually through documents from their country of residence. Because of the extra checks and translations involved, the process often takes a few weeks longer than for locals — so planning ahead is crucial.
2. What documents are required to apply for a mortgage in Spain?
To apply for a mortgage in Spain as a non-resident, you’ll need to present a complete and well-organized financial file. Spanish banks must assess your income, financial stability, and ability to repay the loan — even if your income comes from abroad.
The list of required documents may vary slightly between banks, but in most cases, you’ll need:
- NIE (Número de Identificación de Extranjero) – your official Spanish foreigner identification number, required for any property transaction in Spain
- Copy of your passport – to confirm your identity
- Recent payslips – usually the last 3 months, to demonstrate stable income
- Personal income tax returns – generally from the last 1 to 2 years, showing declared income
- Recent bank statements – to confirm savings and income flow
- Proof of other assets or income – such as rental income, dividends, or owned properties
- Property details – if you’ve already chosen a property, the bank will request the pre-contract or basic listing information
Translation and certification
All documents issued outside Spain will generally need to be translated into Spanish. In some cases, banks may also ask for documents to be apostilled (officially certified) depending on their internal policy.
Preparing this documentation in advance and having it professionally translated can significantly speed up the approval process.
3. Loan terms, interest rates, and conditions
Once your mortgage application is approved, the Spanish bank will propose specific loan conditions. These can vary depending on your profile, income, property type, and loan duration. It’s essential to understand the key elements of a Spanish mortgage contract before signing.
Here’s what most non-resident buyers can expect:
- Loan duration: Mortgages for non-residents typically range from 20 to 30 years, but some banks may limit the term based on the borrower’s age (loans often must be repaid before age 75).
- Interest rates: You’ll usually choose between:
- A fixed-rate mortgage, offering predictable payments throughout the loan term.
- A variable-rate mortgage, often tied to the Euribor index, with rates that may rise or fall over time. In 2025, average rates are around 3% to 4.5%, depending on the lender and your financial profile.
- Loan currency: Most loans are granted in euros, which is convenient for European buyers.
- Down payment: As a non-resident, expect to provide a minimum of 30% to 40% of the purchase price as your own contribution.
- Additional products: Spanish banks often require you to take out home insurance, and sometimes life insurance, through them as part of the mortgage package.
Negotiating the best conditions can be difficult without experience. That’s why working with a local real estate expert or mortgage broker can be a huge advantage — they understand how to tailor offers and spot hidden fees or less favorable clauses.
4. Can you get a mortgage from your home country to buy in Spain?
While most foreign buyers choose to finance their property purchase through a Spanish bank, it’s also possible — though less common — to obtain a mortgage in your home country to buy real estate in Spain.
Several European banks, particularly in countries like France, Germany, the Netherlands, Belgium, and the UK, may offer international or cross-border mortgage services. However, this option comes with certain limitations and considerations.
How it works?
When applying for a mortgage in your country to finance a property abroad, the bank may:
- Require a higher deposit (often 40% or more),
- Ask for strong collateral, such as another property or investments,
- Offer limited loan terms, shorter than typical Spanish mortgages,
- Be less familiar with Spanish property law, which can complicate the process.
In some cases, buyers choose to refinance an existing property in their home country to free up cash and avoid a new foreign loan altogether.
What are the advantages?
Advantages:
- You deal with a bank in your own language and legal system.
- Easier access to customer service, especially if you already bank with them.
- Possibly more favorable conditions if you have a long-standing relationship with your bank.
Disadvantages:
- Fewer banks offer this type of financing.
- Property registration, legal coordination, and currency exchange may be more complex.
- Spanish sellers may prefer buyers with local financing already approved, for speed and simplicity.
In most cases, using a Spanish bank remains the simplest and most efficient option, especially when working with local professionals who understand the property, the laws, and the timelines. But for some people — like investors or those buying a second home — getting a loan from another country can be a good option.
5. Why work with a mortgage broker or Spanish real estate agency?
Buying property abroad can be an exciting step — but it also comes with challenges, especially when it comes to understanding the local mortgage process, legal rules, and paperwork. That’s why many non-resident buyers choose to rely on a trusted local expert. Working with a mortgage broker or real estate agency based in Spain, particularly one that understands the needs of international clients, can make a big difference.
Key advantages:
- Local knowledge: A broker or agency knows how Spanish banks operate, what documents are required, and how to handle the process from start to finish. This helps avoid delays or errors.
- Better loan conditions: Professionals with strong connections to banks can often negotiate more favorable interest rates or terms, especially for international buyers who might otherwise face stricter conditions.
- Help with paperwork: Spanish mortgage applications require many documents — some translated, some legalized. A local agency ensures that everything is correctly prepared and submitted.
- Full support: From the first property visit to signing at the notary, an agency offers personalized support, answers your questions in your language, and acts as your point of contact throughout the process.
At Harper Real Estate, we work closely with local banks, notaries, and legal advisors to help our clients finance and secure their property in Barcelona with total peace of mind.
In short
Getting a mortgage in Spain as a non-resident is entirely possible — and often a smart financial move. However, the process differs from what buyers may be used to in France or elsewhere. That’s why having clear guidance and local support is essential.
Whether you’re buying a second home, relocating, or investing in rental property, Harper Real Estate can connect you with the right financial partners and guide you through every step — in your language, and at your pace.
Ready to finance your property in Spain? Contact our team today and let’s make it happen!
