How the process works, which banks offer it, and what you need to submit

Spain is one of the favourite destinations for international buyers looking to purchase a second home, invest in the property market or move to the country for personal or professional reasons. If you do not reside in Spain but are interested in financing the purchase of a property, it is important to understand how mortgages for non-residents work, what requirements exist and what you can expect from the process.

At Finzia, we help foreign buyers manage their mortgages from abroad, with a streamlined, digital approach and expert support. We tell you everything you need to know before you begin.

What is a mortgage for non-residents?

It is a mortgage loan offered by financial institutions in Spain to individuals who are not tax residents in the country. In other words, it is for foreign citizens or Spanish citizens residing abroad who wish to purchase a property in Spain, either for personal use or as an investment.

Who can apply for it?

Any person who meets these basic criteria may apply for a non-resident mortgage:

• Not having tax residence in Spain (spending less than 183 days a year in the country).
• Demonstrate stable and sufficient income in your country of residence.
• Have a good credit rating (score) and low level of debt.
• Have 30% to 40% of the value of the property as a down payment, plus associated costs (taxes, notary fees, agency fees, etc.).

What percentage do banks finance?

In most cases, banks in Spain finance between 60% and 70% of the purchase price or appraisal value (whichever is lower) for non-residents. Some institutions may consider cases with higher financing if the customer has a very strong credit profile or if there are additional guarantees.

What documentation must you submit?

The documentation varies depending on the country of origin, but in general the following is required:

• Passport or identity document
• Foreign Identification Number (NIE) – required to sign at the notary’s office
• Proof of income and employment status:
  • Employment contract or company letter
  • Latest payslips (usually 3)
  • Annual tax return
• Recent bank statements (usually 3-6 months)
• Credit or solvency report in the country of origin (if applicable)
• Proof of the origin of funds
• Reservation contract or deposit, if you have already chosen a property

In many cases, these documents must be accompanied by a certified translation if they are in a language other than Spanish, English or French.

Which banks grant mortgages to non-residents?

Not all banks operate in this segment, but there are institutions with experience in financing non-residents, especially in areas with high international demand such as the Costa del Sol, the Balearic Islands, Madrid, and Barcelona.

At Finzia, we collaborate with entities specialising in this type of transaction and assess your case to identify the best available alternative based on your profile, country of residence, income currency and type of property.

Is it possible to manage everything from abroad?

Yes. The process can be managed 100% remotely until the signing at the notary’s office, and in many cases you can even grant power of attorney to a representative to sign on your behalf if you are unable to travel to Spain. At Finzia, we accompany you throughout the process, digitally and in your language.

How can Finzia help you?

• We analyse your case with realism and strategic vision.
• We explain the conditions you could obtain and with which banks.
• We prepare your file and adapt it to the criteria assessed by each institution.
• We negotiate the terms for you (type, commitment, fees, etc.)
• We coordinate the signing and resolve any queries along the way.

Key recommendations if you are purchasing from abroad:

• Start with the feasibility study, even if you have not yet selected a property.
• Bear in mind the additional costs (between 10% and 13% of the price).
• Plan ahead, as the process can take between 4 and 8 weeks.
• Please enquire if you are interested in signing a power of attorney in case you are unable to travel.
• Ensure you work with experts in mortgages for non-residents.

Are you thinking of buying a property in Spain from abroad?

At Finzia, we help you find the mortgage that best suits your profile, with a streamlined, professional and hassle-free process.