Guide · checked 17 October 2026

Getting a mortgage in Spain as a foreigner

Buying with a Spanish mortgage is very doable as a foreigner. The law gives you a binding offer, time to read it and a free session with a notary. Here's how it works, step by step.

Resident or non-resident?

Spanish banks lend to both. What changes is how much they'll lend and what they ask for. There is no legal maximum loan-to-value: each bank sets its own, and non-residents are often offered a smaller share of the price than residents. Plan for a bigger deposit if you don't live in Spain yet, and ask each bank early what it offers someone in your situation.

Either way you'll need a NIE, the identity number Spain gives foreigners with financial or professional dealings here. You can apply for it in Spain or at a Spanish consulate abroad. A NIE from a consulate lets you deal with Spanish authorities but is not a residence permit (Spanish consulate in London).

What banks usually ask for

This varies by bank, and none of it is set by law, but expect to be asked for:

• your passport and NIE (and TIE residence card, if you live in Spain)
• proof of income: recent payslips and your employment contract, or tax returns if you're self-employed
• recent bank statements, and details of any other loans
• a credit report from your home country, if you're not yet resident
• the reservation or private purchase contract for the property

Documents in English may need an official translation. Ask the bank which ones before you pay for any.

Your binding offer: the FEIN and FiAE

At least 10 calendar days before you sign, the bank must give you (Ley 5/2019, art. 14):

• The FEIN (Ficha Europea de Información Normalizada): a standard European summary of the loan. It is a binding offer for the period agreed until signing, which must be at least 10 days.
• The FiAE (Ficha de Advertencias Estandarizadas): a warnings sheet pointing out the key clauses, such as the reference index, any minimum rate, what happens if you miss payments, and how the costs are split.
• For a variable rate, a separate document showing your payments under different interest-rate scenarios.
• A draft of the contract, listing every cost of signing.

Because the FEIN is in the same format at every bank, it's the easiest way to compare offers. Compare the total cost, not just the headline rate: banks often lower the rate if you take other products, such as insurance.

The free session with a notary

Before you sign, you must go in person to a notary you choose. They check that you received the documents in time, explain the offer clause by clause, answer your questions and ask you a short test on the documents (Ley 5/2019, art. 15). This must happen at the latest the day before signing, and the notary's record of it (the acta) costs you nothing. If it doesn't happen, the mortgage deed can't be signed.

If you don't speak Spanish well, bring someone who does, or ask the notary's office about an interpreter in advance.

Who pays which costs

Since June 2019, the law splits the costs of setting up the mortgage (Ley 5/2019, art. 14.1.e):

• You: Property valuation (tasación).
• You: Copies of the deed, if you ask for them (whoever asks for copies pays for them).
• The bank: Gestoría (the agency that processes the paperwork).
• The bank: Notary fee for the mortgage deed.
• The bank: Land Registry fee for registering the mortgage.
• The bank: Stamp duty (AJD) on the mortgage deed: the lender is the taxpayer.

You still pay the tax on buying the home itself: transfer tax on a resale, or VAT and stamp duty on a new build. The property calculator shows how much for your region.

Fixed, variable or mixed?

• Fixed: the same payment for the whole loan. You know where you stand from day one.
• Variable: an index plus the bank's margin, reviewed at the intervals your contract sets. The 12-month Euribor is the index most used for Spanish mortgages; the Banco de España publishes the official monthly figure.
• Mixed: fixed for the first few years, then variable.

Paying it off early

You can repay all or part of the loan whenever you like. A fee applies only if your contract sets one, it can never be more than the bank's real financial loss, and the law caps it (Ley 5/2019, art. 23):

• Variable: up to 0.15% of what you repay in the first 5 years, or up to 0.25% in the first 3; nothing after that.
• Fixed: up to 2% in the first 10 years, then up to 1.5%.

A temporary suspension of these fees on variable-rate mortgages (Real Decreto-ley 19/2022) ended on 31 December 2024. Status on 17 October 2026: not in force.

In short

1. Get your NIE, and work out your deposit and cash on the day with the mortgage calculator.
2. Ask several banks for a FEIN and compare them side by side.
3. Have an independent lawyer check the property before you pay a deposit (see our guide to finding and buying a property).
4. See the notary, ask your questions, then sign.