What does the bank want to see?
A Spanish bank looks at your income and outgoings in your own country, and turns them into a maximum monthly payment.
- Your NIE number and passport.
- Payslips or accounts and your latest tax return.
- An overview of your existing loans, including your mortgage at home.
- Bank statements for recent months.
- A valuation (tasación) by an approved valuer, which the bank arranges.
The order of things
Apply for the mortgage as soon as you have a home in mind, and set a completion date in the purchase contract that leaves room for the valuation and the offer. The bank sends you a binding offer (FEIN) at least ten days before completion. Within that period you have a compulsory meeting with the notary, who goes through the offer with you. That meeting costs you nothing.
What do you pay yourself?
You pay the buying costs from your own funds, as well as the part of the price the bank does not lend. So allow around 40% of the price plus the buying costs. Below you can see what those costs are.
Buying costs calculator
| Item | Rate | Amount |
|---|---|---|
| Transfer tax (ITP) | 7% | €28,000 |
| Notaryestimate | 0.2% | €800 |
| Land registryestimate | 0.1% | €400 |
| Lawyer, incl. 21% VATestimate | 1% | €4,840 |
| On top of the price | 8.5% | €34,040 |
| All in | €434,040 |
Examples on top of the price
| Purchase price | Andalusia, resale | Andalusia, new build | Costa Blanca, resale | Costa Blanca, new build | Murcia, resale | Murcia, new build |
|---|---|---|---|---|---|---|
| €250,000 | €21,275 8.5% | €31,775 12.7% | €26,275 10.5% | €32,275 12.9% | €23,150 9.3% | €32,525 13% |
| €400,000 | €34,040 8.5% | €50,840 12.7% | €42,040 10.5% | €51,640 12.9% | €37,040 9.3% | €52,040 13% |
| €750,000 | €63,825 8.5% | €95,325 12.7% | €78,825 10.5% | €96,825 12.9% | €69,450 9.3% | €97,575 13% |
| €1,500,000 | €127,650 8.5% | €190,650 12.7% | €187,650 12.5% | €193,650 12.9% | €138,900 9.3% | €195,150 13% |
Rates checked on 21 October 2026. Notary, land registry and lawyer are estimates. With a mortgage, add the valuation.
Alternatives
Many buyers raise the money through equity in their home in the UK, Ireland or elsewhere, or buy without a mortgage. A mortgage from a lender in your home country secured directly on a Spanish home is rare. Compare interest and costs, and get advice on the tax consequences at home.
This guide is general information, not legal or tax advice. Have your own situation checked by a lawyer or tax adviser.
Frequently asked questions
Can I get a Spanish mortgage as a non-resident?
Yes. Spanish banks lend to non-residents, usually up to 60 to 70% of the price or the valuation.
What are mortgage interest rates in Spain?
They differ by bank and over time, and depend on whether you choose a fixed or variable rate. Ask for several offers.
Can I buy a house in Spain without a mortgage?
Yes, many buyers pay from savings or from equity in their home. The steps of the purchase stay the same.
Who pays the mortgage costs in Spain?
Since 2019 the bank pays most of them: notary, registry, gestoría and the stamp duty on the mortgage. You pay the valuation.
How long does a mortgage application take?
Allow four to eight weeks from application to completion, including the valuation and the compulsory waiting period.