Mortgage in Spain


You are looking for a mortgage in Spain to buy a house there. How exactly does that work, and what is involved? It simply works differently in Spain than in the Netherlands.

In this article, you will read about the 7 most important rules and conditions to keep in mind. Did you know, for example, that you can't actually do anything without a NIE number? And that banks finance a maximum of the lowest value, based on the purchase value and appraisal value?


We will guide you through the process if you are considering buying a house with a Spanish mortgage. We will also inform you about the pitfalls you will want to avoid.

How much can I borrow to buy a house in Spain?

You want to buy a house in Spain and take out a mortgage. How much can you actually borrow? Just like in the Netherlands, your income largely determines the maximum mortgage. In addition, Spanish banks also take your age and creditworthiness into account.


  • Income You may spend a maximum of 30 to 35% of your net income on housing costs. This applies to the combination of your housing costs in the Netherlands and those in Spain. If you also have a mortgage in the Netherlands, the bank in Spain will therefore take this into account.
  • Age: Banks provide mortgages with a term until you reach the age of 75. So, if you are 65 when you apply for the mortgage, the maximum term is 10 years. Therefore, keep in mind that the older you are, the shorter the term and the higher the monthly payments.
  • Creditworthiness Spanish banks want to know if you have other financial obligations, such as alimony or personal loans. This is how they determine the maximum amount you are allowed to borrow. This information comes from the Dutch BKR register.

7 rules and conditions for a mortgage in Spain

Based on the following 7 rules and conditions, you will know whether a mortgage is realistic and which requirements you need to meet:


1. No mortgage without an NIE number

Spanish banks require a valid residence permit for Spain if you want to buy a house there. You need a NIE number for this. You can apply for this yourself at the Spanish Policía Local, but even if you speak the language, it is a bureaucratic and cumbersome process.


Instead, it is better to ask a Spanish lawyer to help you with this. You can do this in any location in Spain, even if you want to buy a house elsewhere. Tip: we have a network of reliable lawyers. Ask us about the options for your NIE application.


2. Important documents to submit

A mortgage in Spain requires a number of documents that you must provide:

  • Passport or identity card
  • Recent payslips and income tax returns
  • Recent bank statements
  • Proof of address in the Netherlands
  • Proof of any loans or debts


Please note that you must submit the documents in Spanish for proper processing. However, if you are working with a Spanish Mortgage, you can simply submit the Dutch documents. We will translate them for you into a personalized mortgage file, which we can submit to multiple banks. This way, you only need to securely send your documents once.

Tip: Curious about exactly what you need to submit? Download our checklist "Submitting documents for a mortgage in Spain".


3. Pay slips or proof of other income

You prove your income with recent payslips or proof of other income. Most banks require payslips for the past six months or two years of income from a business. In that case, you would provide, for example, your income tax return and your annual accounts.


Please note: are you a Director-Major Shareholder? Different requirements apply with a BV or a holding structure. Request our mortgage security check. We will then help you get everything in order for a smooth mortgage application in Spain.

4. Your age and the term of a mortgage in Spain

The term of the mortgage for the house in Spain depends, among other things, on your age. Banks in Spain finance up to a maximum of 75 years. This means that the term of the mortgage must expire before that time.


Als je 65 jaar bent is de maximale looptijd dus nog 10 jaar. Als je 50 jaar of jonger bent kun je een hypotheek afsluiten met een looptijd tot 25 jaar. In specifieke gevallen kan er een uitzondering worden gemaakt voor een langere looptijd, maar dit is maatwerk en vergt onderhandelingsvaardigheden.


5. At least 30% own funds

If you are a foreigner wanting to buy a house in Spain with a mortgage, you may finance a maximum of 70% of the property's value. This means that you must contribute a maximum of 30% of the purchase price yourself.


Banks in Spain require a down payment percentage of 30 to 40% alongside the mortgage. For a purchase price of €250,000, this amounts to €75,000 to €100,000. In addition, you pay the buyer's costs yourself.

6. The buyer's costs of a mortgage in Spain. Buying a house in Spain with a mortgage entails buyer's costs. On average, this amounts to about 10 to 12% of the purchase price.


The buyer's costs consist of:

  • Notary fees
  • Registration fees
  • Registration of the mortgage deed
  • Property tax (on existing properties)
  • VAT (IVA, for new construction)
  • Furthermore, you will incur costs for a mortgage advisor, the translation of documents, and a lawyer. A lawyer can help you review the property from a legal, financial, and tax perspective. Finally, take into account permits and any potential commission for the real estate agent.


7. Valuation is mandatory

Banks in Spain require a valuation when applying for a mortgage. For this, a recognized independent appraiser must be engaged, whom the bank itself hires. This ensures the bank knows that the valuation has been completed according to standards. The maximum mortgage depends on either the purchase price or the valuation, whichever is lower.

Arrange your mortgage in Spain in Dutch

Buying a house in Spain with a mortgage is entirely possible. That is, if you know the rules and conditions. That is why we are happy to help you with a mortgage in Spain if you want to buy a second home or real estate. Things work differently in Spain than in the Netherlands. This applies to real estate agents, mortgages, and banks. Moreover, it helps enormously if you use the Spanish language for applications and important documents.



We speak Dutch with you and fluent Spanish with our contacts here. Through an extensive network, we help you find the mortgage in Spain you are looking for. Thanks to 10 years of experience based in Valencia, we achieve more, and you can be sure that you are getting everything right.

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