Mortgages for overseas property in Spain

August 29, 2023

Are you considering purchasing property in Spain as a non-resident? Securing a mortgage for overseas property can be a great opportunity to invest in the thriving Spanish real estate market. However, it’s important to understand the process and requirements involved.

In this guide, we will explore the benefits of obtaining a mortgage for overseas property, discuss interest rates and mortgage terms for non-residents, and outline the application process. We’ll also provide tips on finding the right lender and working with professionals who can assist you throughout the process.

Mortgages for Overseas Property

There are a variety of mortgage providers in Spain that provide mortgages for overseas property. These mortgages are typically offered to non-residents, and they may require that you provide some form of proof of income or other financial information.

It is essential to research  lenders before applying for a mortgage and to compare the interest rates, terms, and conditions between different lenders. Professionals from Strand will help you to get the best mortgages tailored for your needs.

Benefits of Obtaining Mortgage for Overseas Property

One of the main benefits of obtaining a mortgage in Spain for non-residents is the opportunity to invest in the thriving Spanish property market. This can be an excellent opportunity for individuals looking to buy a holiday home, rent out a property for additional income or even relocate to Spain permanently. Additionally, mortgages for non-residents can help facilitate the purchase process and provide a way to finance the property.

Interest Rates and Mortgage Terms for Non-Residents

Interest rates for non-resident mortgages in Spain can vary depending on several factors, including the applicant’s credit history, the property’s location, and the lender’s requirements. Typically, interest rates for non-resident mortgages in Spain are higher than those for resident mortgages. This is because non-resident borrowers are considered to be a higher risk by lenders, given they do not have a permanent residence in the country.

The mortgage term for non-residents may also differ from that of residents. Usually, non-residents are allowed a maximum term of 20-25 years, while residents can have terms of up to 30-35 years. Additionally, non-residents may be subject to higher fees and additional costs when applying for and maintaining a mortgage.

The Application Process for Non-Resident Mortgages

When applying for a mortgage in Spain as a non-resident, it is essential to have all the necessary documentation in order. Applicants will need to provide at least the following:

  1. Proof of identity, such as a passport or national ID card
  2. Proof of income, including payslips, tax returns, or bank statements
  3. A valid residence permit or visa (if applicable)
  4. A credit report from the applicant’s home country
  5. A valuation of the property being purchased

Some lenders may also require additional documentation, such as proof of existing debt or a bank reference letter. It is essential to check with each lender to ensure you have all of the necessary documentation before applying.

Once the required documentation is gathered, applicants can begin the mortgage application process. This typically involves submitting the necessary paperwork, meeting with a mortgage advisor, and providing any additional information required by the lender.

It is important to note that the mortgage application process can take several months to complete. Therefore, it is advisable to start the application process as early as possible to avoid any delays in purchasing your desired property.


Obtaining a mortgage in Spain as a non-resident can be a complex process, but with the right preparation and help from professionals, it is possible to secure a mortgage that meets your needs. By comparing the terms, interest rates, and requirements of various lenders, non-residents can find a suitable mortgage for their property purchase in Spain.

Working with a knowledgeable real estate agent can help ensure a smooth and successful application process.