Mortgage Options for Foreign Property Buyers in Spain
Non-residents can typically secure Spanish mortgages covering 50-70% of a property's value, with terms up to 25 years. Interest rates generally range 1-3% above Euribor, with most banks requiring life and home insurance. Documentation needs include proof of income, tax returns, and NIE numbers.
Key differences from local mortgages include higher deposit requirements and stricter affordability checks. Some lenders offer "multi-currency" options, though these carry exchange rate risks. Notary and registration fees add 1.5-2% to loan costs.
For updated lender comparisons and eligibility details, visit Spain-Real.Estate.
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