For most foreign residents the idea of taking a mortgage in Spain might seem pretty scary at first. However, it should not. Even if you do not speak Spanish, there are many financial institutions and banks that are based here, that provide qualified English-speaking staff who are specialised in providing mortgage services for foreigners.

Most financial institutions will have a standard criteria before considering a mortgage application.  For instance, you should be 25 years old or over, in full time stable employment, or have been self-employed for a minimum of three years. The amount of how much you can borrow will depend on how much income you generate, and what financial commitments you have.

Generally, you can borrow of up to 60%–70% of the purchase price. In order to check if the price is appropriate and fair, the bank will request a professional valuation. This comprises a detailed report in respect to the quality of construction and material use, the situation, state of repair of the property, and most importantly its market price, that includes all of the above mentioned factors. The fee for the valuation is approximately €400, but may vary in accordance to the size of the property.

Land Register should also be checked for the possible existence of mortgages or liens, consequently an adequate certificate issued. If the property that you are purchasing is still under construction, the developer may require the cost of the property to be paid in a series of instalment payments. Most lenders can provide a mortgage, that matches these requirements subject to certain safeguards.

Generally speaking all associated taxes and fees equals to approximately 11% of the property purchase price if you have a mortgage. These include the following:



These are established in accordance with the total amount of the loan. For example, if the mortgage is between €150.253 and €601.012, the notary fees will be 0,5 euros for every thousand euros.


The mortgage must be registered with the Land Register and, again, the fees depend upon the amount of the loan. For example, if the mortgage is between € 150.253 and € 601.012, the land registry fees will be 0,3 euros for every thousand euros.


Otherwise known as the „Gestor” the administration office handles all the necessary processing of official documents. Their fee is approximately € 250. They will pay all the taxes on your behalf, as well as undertaking the above-mentioned registration in the Land Register.


This is established according to the minimum valuation received. It is obligatory to take out an insurance policy covering fire and Third Party responsability. It is also obligatory to take out a life insurance.


There is a tax required on all legal documents which is calculated according to the amount of the mortgage. The expenses relating exclusively to the bank are the commission for opening the account (normally 1%) plus the interest on the loan.

Naturally, all the figures stated here are subject to change.


To apply for a mortgage the following is required:

  • Copy of your latest tax declaration or proof of income from an accountant
  • Statement of the last 3 months from your bank account.
  • Details of your bank in your home country.
  • Photocopy of your passport.

We are cooperating with Members of LPA – Leading Property Agents of Spain.


Leading Property Agents of Spain is an association of top real estate agents with time-tested reputations along the Costa del Sol. All members are professionally qualified real estate agencies and some of the longest established businesses of the coast.


Katarzyna Sosnowska

+ 48 607 718 667

NIP: 9241889327, Regon: 365141700


Marta Nowakowska

+ 48 506 791 811

NIP 9730801792, REGON 081239212


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