A good share of our buyers pay cash, but every year we accompany financed purchases — and the non-resident mortgage has its own rules. Knowing them before you make an offer avoids the most expensive mistake: committing to a timeline the bank cannot meet.
How much banks lend
To a non-resident buyer, Spanish banks typically finance 60 % to 70 % of the lower of price and appraised value (residents can reach 80 %). Translated: for a €1M house you should have around €400,000–500,000 available between deposit and taxes. Terms usually run to 20–25 years, with the usual cap of age 70–75 at maturity.
The documents they will ask for
- NIE and passport.
- Tax returns from your home country (usually two years).
- Payslips or, if self-employed, company accounts.
- Recent bank statements and proof of the deposit savings.
- A credit report from your country (Schufa in Germany, etc.).
Everything generally translated into Spanish or English depending on the bank. The Spanish official appraisal is commissioned by the bank and takes one to two weeks; the accepted affordability ratio is usually around 30–35 % of net income.
The non-resident mortgage is not hard — it is slow. The buyer who starts it before offering negotiates with the calm of someone who knows the money will arrive.
How it fits the buying timeline
From application to binding offer (FEIN), allow 4 to 8 weeks. That is why we recommend a pre-approval before offering, and a deposit contract with enough runway (or a financing clause, if the seller accepts one — not always possible on in-demand properties). Spanish mortgage law also adds a mandatory 10-day period between the FEIN and signing.
Is it worth it versus financing at home against another property? That depends on rates and your tax position — honestly, one for your adviser. What we do: introduce you to the local banks that work well with non-residents and align the purchase calendar with the financing one.
