Spanish Mortgage Calculator

Estimate Monthly Repayments and Purchase Costs For Buying Property in Spain

Spanish Mortgage Interest Rates

Explore flexible capital repayment mortgages with interest rates tailored to non-residents. Use our user-friendly mortgage calculator to estimate your monthly payments and total purchase costs. Our table below shows examples of different types of rates for a mortgage amount of €500,000.

Max LTV (Term)

Starting Rates From*

Monthly Payments**

70% (20 years)

4.50% (Fixed 1 yr, then variable)

€3,164

70% (30 years)

4.49% (Fixed 1 yr, then variable)

€2,991

70% (30 years)

4.09% (Fixed 5 yrs, then variable)

€2,413

70% (30 years)

4.09% (Fixed 7 yrs, then variable)

€2,413

70% (30 years)

4.20% / 3.89% (Fixed 10 yrs, then variable)

€2,567 / €2,473

*Starting rate refers to the fixed-rate portion of the term. Interest Rates from May 2025. ** Based on €500,000 mortgage amount

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Spanish Mortgage FAQs

Is it hard to get a Spanish mortgage as a non-resident?

Not at all. Spanish banks offer mortgages to non-residents, especially for second homes and investment properties. Approval depends on income, documentation, and overall financial profile. Approvals can even be done in as little as 48 hours.

How much can I borrow in Spain?

Most non-residents can borrow up to 60–70% of the property’s purchase price. Spanish residents may be able to borrow up to 80%, depending on their income and financial profile.

How much deposit do I need for a Spanish mortgage?

Non-residents usually need a deposit of 30–40% of the property’s value. Spanish residents may qualify with 20% or less depending on the lender.

Are Spanish mortgage rates fixed or variable?

Spanish mortgages are available with both fixed and variable interest rates. Fixed rates offer long-term stability and are popular with non-residents, while variable rates may start lower but can fluctuate with the Euribor index.

What documents are required for a Spanish Mortgage?

You’ll typically need a valid passport, proof of income (such as payslips or tax returns), bank statements from the last 3 months, a credit report, proof of deposit, and the signed property reservation contract. Self-employed applicants may also need certified accounts and full tax filings.

Can I finance renovations in Spain?

Yes, some Spanish lenders allow you to include renovation or refurbishment costs within your mortgage. This is especially common for properties that will be improved for rental or energy efficiency purposes. You’ll need to provide quotes and detailed plans as part of the application.

Can foreigners get a mortgage in Spain?

Yes, most Spanish banks welcome foreign buyers. You’ll need to provide standard financial documents, proof of identity, and often a higher deposit than local buyers.

Can UK citizens get a mortgage in Spain?

Yes, UK nationals can apply for a Spanish mortgage as non-residents. The process is straightforward with the right guidance and documentation.

What is the minimum mortgage amount in Spain?

Minimum mortgage amounts vary, but many banks won’t lend less than €100,000. This ensures the loan is commercially viable for the lender.

What are the risks or pitfalls of buying a property in Spain?

Common pitfalls include unclear legal titles, underestimating taxes and fees, and currency risk. Working with experienced advisors like Worldwide Property Company helps avoid costly mistakes.

Do I need a Spanish bank account to buy property in Spain?

Yes, most lenders require you to open a Spanish bank account. It’s used to set up mortgage repayments via direct debit and to handle associated costs like notary fees, taxes, and utility payments.

Are there property taxes in Spain?

Yes. Buyers pay purchase taxes (e.g. ITP or VAT + AJD), plus annual property taxes like IBI (similar to council tax) once they own the property.

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