Make your dream of owning property in Spain a reality

Imagine waking up in your own home overlooking the sunny Spanish coast. The Costa del Sol offers an exceptional lifestyle, beautiful beaches and a wide choice of properties for international buyers. With competitive mortgage options available in Spain, financing your new home may be more achievable than you expect. This guide explains how to get a mortgage in Spain and take the next step towards owning a property on the Costa del Sol.

Mortgages in Spain for international buyers

Spanish banks regularly offer mortgages to international and non-resident property buyers. Depending on your financial circumstances and the lender’s criteria, you may typically be able to borrow up to 60–70% of the lower of the property’s purchase price or bank valuation.

For example, if a property costs €500,000 and qualifies for 70% financing, you could potentially obtain a mortgage of up to €350,000. You would need to contribute the remaining €150,000 from your own funds, as well as cover the applicable property taxes and purchase costs.

Spanish banks generally assess your total monthly debt repayments, including the new mortgage and any existing loans. These repayments should typically remain within approximately 30–35% of your net monthly household income.

For example, a €350,000 mortgage over 30 years at an interest rate of 3% would have an estimated monthly repayment of approximately €1,476. Based on the 30–35% affordability guideline, you would typically need a net monthly income of around €4,220–€4,920.

A €700,000 mortgage under the same conditions would have an estimated monthly repayment of approximately €2,951. This would normally require a net monthly household income of approximately €8,430–€9,840.

Mortgage terms and maximum age limits vary depending on the lender, your residency status and your financial profile. Although some Spanish banks offer terms of up to 30 years, mortgages for non-resident buyers may be limited to 20 or 25 years. Banks also commonly require the mortgage to be fully repaid before the oldest borrower reaches the age of 75 or 80.

​If you are planning to buy a property on the Costa del Sol, you may be able to finance the purchase by releasing equity from a property you already own in your home country. Depending on your country, lender and financial circumstances, the funds could be used towards some or all of the purchase price of a property in Spain.

​The amount available, loan-to-value limit, interest rate, repayment term and approval process will vary between countries and lenders. Banks assess each applicant’s affordability and creditworthiness individually, while your country of residence, employment and the location of the property may also affect your options.

​Using equity from an existing property can provide an alternative to arranging a Spanish mortgage and may simplify the buying process. However, buyers should obtain independent mortgage, legal and tax advice before using a property in their home country as security.