Property buying guide for Spain
Article 3 of 6
Markets & Prices

Mortgages in Spain

Spain offers foreign citizens favourable loan terms thanks to the low Euribor rate.

Foreign mortgage loan terms in Spain (as of November 2016) Source: Tranio

Maximum LTV ratio 70%
Minimum loan amount €50,000
Fixed rates From 2.5% per annum
Loan term Up to 30 years
Minimum ageof borrower 18
Maximum ageof borrowerby the end of the loan term 65
Maximum percentageof monthly incomefor mortgage 35%


To obtain a mortgage loan in Spain, lendees must submit the following documents to the bank:

  • passport
  • copy of preliminary sales contract
  • tax return for the previous and current years
  • extract from a credit bureau
  • statement of account surplus from a bank in the lendee’s country of permanent residence
  • tax identification number Número de Identificación de Extranjero), assigned to foreign buyers in Spain prior to signing any agreements or once they have put down a deposit for the property.

All the documents must be translated into Spanish and notarised.

Loan applications usually take 2-5 weeks for approval.

Extra costs

Non-recurring mortgage costs in Spain tend to amount to about 1% of the property value. There are also additional annual property insurance payments of about 0.2% of the property value.

Additional mortgage costs in Spain (as of November 2016) Source: Tranio

Property appraisaland Due Diligence About €500
Property insurance 0.2% of the propertyvalue per annum
Mortgage arrangement fee 1% of the loan amount
Early repayment penalty 0.5% of the remaining
debt amount
(the rate varies
depending on the bank)
Property buying guide for Spain
Article 3 of 6
Tranio’s managers offer advice on buying real estate in Spain
Daria Batiuk
Daria Batiuk
Real Estate Expert Tranio in Spain
+44 20 3608 1267
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