Mortgages for Non-Residents in Spain
Your Mortgage Financing in Spain with LG Finance
Are you living abroad and looking to buy an apartment, a house or an investment property in Spain?
LG Finance Credit Service, SL, a mortgage brokerage firm registered with the Bank of Spain, assists you in finding and negotiating mortgage financing with Spanish banks.
With over 22 years of experience in mortgage financing, we assist French and international clients with their property purchases in Spain.
Our aim is to guide you towards the banking solutions best suited to your financial situation and property project.
What Mortgage Financing Is Available to Non-Residents in Spain?
Spanish banks offer mortgage loans to individuals who are not tax residents in Spain.
Financing depends in particular on your country of tax residence, income, professional situation, existing debts and the property you wish to purchase.
How Much Can You Borrow?
For non-residents, Spanish banks can generally finance up to 70% of the purchase price or the accepted property valuation, depending on their lending criteria.
The amount financed may be lower depending on the borrower’s profile, the type of property and each bank’s lending policy.
Each application is assessed individually.
How Much Down Payment Do You Need to Buy Property in Spain?
Buying property in Spain generally requires a larger personal contribution for non-residents than for residents.
With 70% mortgage financing, you should budget for:
- A personal contribution of at least 30% of the purchase price.
- Taxes associated with the property purchase.
- Notary fees, registration fees and any other applicable acquisition costs.
These costs vary depending on the Spanish region, the nature of the property and the type of purchase.
LG Finance helps you assess your overall budget so that you can anticipate the funds required for your property project.
What Documents Are Required to Obtain a Mortgage in Spain?
Spanish banks request various supporting documents to assess the borrowing capacity of non-residents.
Depending on your professional and tax situation, the required documents may include:
- Passport or national identity card.
- Spanish NIE (foreigner identification number), when required.
- Proof of income and professional activity.
- Tax returns and tax assessment notices.
- Recent bank statements.
- Evidence of savings and personal contribution.
- Information about existing loans and financial commitments.
Additional documents may be requested from self-employed individuals, company directors and investors.
The final list depends on the borrower’s profile and the requirements of each bank.
Why Choose LG Finance for Your Mortgage in Spain?
Obtaining mortgage financing from abroad may involve specific administrative and banking procedures.
LG Finance assists you at every stage of your property project:
- Assessment of your financial situation and borrowing capacity.
- Identification of banks that may be willing to review your application.
- Preparation and submission of your mortgage application.
- Comparison and negotiation of banking conditions.
- Assistance throughout the process until your mortgage is signed.
We operate in particular in Barcelona, Madrid, Valencia, Catalonia, Andalusia and the Balearic Islands.
How Can You Get Started with LG Finance?
After an initial discussion to clarify your property project, we explain the terms of our brokerage services and the documents required.
The assessment of your application and the banking procedures begin once our brokerage engagement has been formalised.
Frequently Asked Questions About Mortgages for Non-Residents in Spain
Can a French Non-Resident Obtain a Mortgage in Spain?
Yes. Spanish banks consider mortgage applications from French nationals living abroad, provided they have sufficient income and their application meets the bank’s lending criteria.
Can You Obtain a Mortgage in Spain with Income Earned in France?
Yes. Professional income earned in France may be taken into account by Spanish banks, depending on its nature, stability and the conditions applied by each lender.
Can You Buy a Second Home in Spain with a Mortgage?
Yes. Non-residents may apply for a mortgage to purchase a second home or an investment property.
What Is the Mortgage Term for a Non-Resident?
The mortgage term depends in particular on the borrowers’ age, financial situation and the bank’s lending policies. It may be shorter than the terms available for certain resident mortgages.
Do You Need to Travel to Spain to Obtain Mortgage Financing?
Much of the process can be prepared remotely. However, certain formalities may require your physical presence or appropriate legal representation, particularly at the time of signing.
Contact LG Finance for Your Mortgage in Spain
Would you like to buy property in Spain while living abroad?
LG Finance Credit Services S.L. assists you in finding mortgage financing and dealing with Spanish banks.
Our locations in Spain:
Barcelona: Rambla de Catalunya, 125 – 3.º 1.ª – 08008 Barcelona
Madrid: Calle de Serrano, 78 – 28006 Madrid
Contact us to discuss your property project and learn about the different stages of our brokerage services.