Mortgage for a new build in Spain, if you live abroad
Banks lend to non-residents, on stricter terms. This is what changes and what to prepare.
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Non-residents are assessed differently
Spanish banks do lend to buyers who live abroad, but usually lend a smaller share of the value than they would to a resident, and ask for more documents: proof of income from your country, tax returns and bank statements, often with a sworn translation.
You need an NIE, and in practice a Spanish bank account. If your income is in pounds, dollars or another currency and the mortgage is in euros, the exchange rate becomes a risk you carry for the whole term.
What to have ready
Six things that speed up the bank's answer.
- An NIE
- Proof of income and recent tax returns from your country
- Recent bank statements
- A Spanish bank account
- The reservation and the sale contract of the new build
- A view of the exchange-rate risk if your income is not in euros
More on the purchase
The costs and the process.
Receive the new-build programmes available
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What people usually ask
Can a non-resident get a mortgage in Spain?
Yes, from banks that lend to non-residents, on conditions set by each bank.
Who pays the AJD on the mortgage?
The bank pays the AJD on the loan deed. The buyer still pays the AJD on the purchase.
Does HolaDomus arrange mortgages?
No. We recommend no bank or broker and take no commission.
Do you sell new build?
A guide like this on your website answers the question foreign buyers ask before anyone calls you.
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