Mortgages in Spain for non-residents: conditions, stages and documents

Mortgages in Spain for non-residents: what the law decides and what the bank decides

Ley 5/2019 (Ley reguladora de los contratos de crédito inmobiliario) applies when a loan to an individual is secured by a mortgage or other charge on residential property, or is granted to a consumer to buy property. The law does not distinguish borrowers by nationality or residence [1]. So transparency, documents and costs work the same way, and it is the bank that sets the requirements for you as a non-resident.

The word “non-resident” is used in different senses: having no residence permit, or not being tax resident. Ask the bank which meaning it has in mind. The tax side: taxes for residents and non-residents.

Mortgage terms: loan-to-value, affordability, currency

The law lists what the bank assesses: employment, current and future income, property, savings, fixed expenses and existing obligations. The decision must not rely mainly on the value of the collateral [1]. If the bank refuses, it must tell you in writing with the reasons and, if it relied on a database search, give you a copy of the result [1]. Before lending, the bank checks your debts in CIRBE and in the default registers (RAI, ASNEF) [2].

Loan-to-value ratio. The Banco de España says that for the purchase of a main home banks usually lend no more than 80% of the appraised value, but the amount depends on the bank’s policy, your ability to repay, the type of home (first or second) and any additional guarantees. This guide dates from 2016 and contains no separate rules for non-residents [5]. We found no official figure for non-residents.

Debt burden. The Banco de España gives a benchmark: total debt repayments should not exceed 40% of net monthly income. This is a recommendation, not a legal rule [7].

Currency. If the loan is denominated in a foreign currency, the borrower has the right to convert it into the currency in which they receive most of their income or into the currency of the country where they live. The bank must notify you if the debt differs by more than 20% from the amount calculated at the exchange rate on the contract date [1]. The Banco de España guide warns that repayments fluctuate with the exchange rate [5].

Mortgage stages: from valuation to notary

1. Get information. On request, the bank gives you a free indicative ficha (FIPRE) with its terms [2].
2. Hand over your documents. The bank carries out an analysis of income, assets, expenses and obligations. It checks CIRBE and the default registers [1][2].
3. Appraisal (tasación). It is carried out by a valuation company independent of the bank, and the borrower pays for it. The bank must accept an appraisal made by an accredited valuer that has not expired [2][3].
4. The bank’s decision and delivery of the FEIN, the FiAE and the draft contract at least 10 calendar days before signing [1].
5. Attendance at a notary of your choice for the transparency certificate, no later than the day before signing. The certificate is free [1][6].
6. Signing the escritura pública before the notary. The notary refers to the certificate in it [1].
7. Registration of the mortgage in the Registro de la Propiedad: the bank bears the cost [1][3].

The borrower or their representative must attend the notary. We have not checked how this works for a non-resident who is abroad or what is needed for a proxy (poder). Ask the notary in advance [1].

Mortgage costs and who pays them: the bank pays AJD

The law allocates the costs of arranging a mortgage as follows: the borrower pays the appraisal, the bank pays the gestoría, the bank pays the notary’s fees for the escritura (aranceles), copies are paid by whoever requests them, and the bank pays the mortgage registration. The bank pays the AJD tax on the mortgage loan: article 29 TRLITPAJD, as amended by Real Decreto-ley 17/2018, makes the prestamista, that is the bank, the taxpayer for the escritura of a loan secured by a mortgage [10].

In its explanation, the Banco de España says that the borrower pays the appraisal and the bank covers the notary, the registry, taxes and the gestoría [3]. The tax on the purchase of the home itself (ITP, or IVA with AJD on the sale) is separate and is paid by the buyer: buying property as a non-resident. We do not give the total amount of costs: the rates depend on the value and the region.

Banks often lower the rate if you buy additional products. Tied selling is prohibited unless the bank proves a clear benefit for the customer. The bank may require an account for loan repayments. If the bank requires property damage insurance, it must accept an alternative policy without worsening the loan terms and without extra costs for you [4]. The law sets separate limits on the early repayment fee; we do not give those limits here [1].

What documents you will need

The law gives no list of documents for non-residents; the bank decides it. Based on what the bank must assess, it usually asks for proof of identity, documents on employment and income, and information on assets, savings, expenses and obligations [1]. The bank must verify your identity from documents before the relationship begins [1][8]. The bank may require foreign documents to be translated and apostilled: check with the bank in advance exactly what it will accept: apostille, sworn translation. A foreigner’s tax number: NIF and NIE.

According to the Banco de España description, CIRBE holds data on loans and guarantees reported by the reporting institutions. The description says nothing about taking foreign credit history into account [9]. How Spanish credit information works: credit history in Spain.

Common mistakes in non-resident mortgages

• Expecting uniform terms for non-residents: the law does not set them, the terms depend on the bank’s policy [1][5].
• Looking only at the rate and ignoring linked products and the total cost: compare FEINs, not advertisements [2][4].
• Not leaving time for the 10 days before signing and the notary’s certificate: without the certificate the escritura is not signed [1].
• Signing a foreign currency loan without understanding the exchange rate risk and the right to convert [1][5].
• Signing a commitment on the day you receive the FEIN: the bank must give you the documents in advance, and the FEIN binds it for at least 10 days [1].
• Assuming that an appraisal arranged outside the bank will not be accepted: the bank must accept a valid appraisal by an accredited valuer, although it may check it [3].

When you need an individual review

Before your first visit to the bank it helps to do four things; nothing new is needed for them.

1. Make a list of your income, assets, savings and obligations: these are what the bank uses to assess your ability to repay [1].
2. Find out what the bank means by “non-resident”: no residence permit or no tax residence.
3. Choose the type of rate in advance: the options are compared in fixed or variable rate.
4. Prepare an account for loan repayments: the procedure is described in opening an account with a Spanish bank.

A review is needed if your income comes from abroad or in a foreign currency, your residence status is changing, you are buying a second property, there are several borrowers, or you need a proxy (poder) to sign. The bank’s requirements and the signing procedure depend on these details.

How we can help

We do not select or recommend banks or mortgage products. The ReloVictory team in Barcelona helps with the paperwork: NIE, translations and apostilles, proof of residence status, tax questions on the purchase (overall scheme: residence permit in Barcelona, documents: “Documents” service). First consultation: 15 minutes free; full consultation: €121 for 45 minutes. Booking: consultation.

Frequently asked questions

Related articles

ReloVictory · Sources reviewed 02.10.2026 · Not a substitute for individual legal advice.