As a foreigner, first of all you need to contact with a bank or a specialized mortgage broker to start the mortgage study process. Normally the banks will ask you to have a property reserved. However the broker might help you to get a pre-approval before the property hunt.

Banks in Spain evaluate your entire financial profile. They typically request:

• Passport and tax identification
• Marital status and information about children (family responsibilities affect affordability)
• Proof of employment or income
• Recent bank statements
• Details of debts and monthly expenses
• Property reservation document (when applicable)

The mortgage pre-approval process in Spain usually takes 1 to 2 weeks, depending on the bank and the complexity of your financial profile.

Spanish banks usually offer competitive mortgage rates for foreign buyers, but due to specific technical and risk-assessment criteria for non-residents, the interest rates are often slightly higher than those offered to Spanish residents.

The exact rate will depend on your financial profile, the bank, and whether you choose a fixed, variable, or mixed mortgage.

Yes, absolutely. Non-residents can obtain a Spanish mortgage even if their income is earned abroad and they do not live in Spain. The approval will depend on your personal and financial circumstances, as each bank evaluates income, debts, family situation, and overall financial stability.

As a general rule, non-residents can obtain 50% to 70% of the property value as a mortgage in Spain. The exact percentage depends on your financial profile and the bank’s policies.

Don’t forget that you must also cover the purchase expenses yourself, including:

• Property transfer tax (ITP) or VAT
• Notary and Land Registry fees
• Bank and legal fees
• Buyer’s agent fee (if applicable)

These costs are not included in the mortgage and must be paid from your own funds.

No, mortgage pre-approval is not mandatory in Spain. However, buying without pre-approval can be risky. If the bank later rejects your mortgage, you may lose your reservation fee or the arras deposit, which can be up to 10% of the property price.
At Presta Estate, we provide the mortgage pre-approval completely free of charge. You only pay our fee if your mortgage is successfully approved and the property is purchased. This gives you full financial security and makes the buying process much safer.

In most cases, yes. Spanish banks usually require you to open a bank account with them as part of the mortgage process. However, there are a few banks that do not obligate foreign buyers to open an account in order to apply.

A mortgage broker can help you identify the banks that allow applications without opening a Spanish account.

At Presta Estate, we streamline the entire pre-approval process for foreign buyers. Thanks to our deep knowledge of the Spanish banking system and the strong trust we have built with multiple banks, we prepare a solid, well-structured mortgage case on your behalf.
We accurately systematize and present your documents, highlight the strengths of your financial profile, and communicate directly with the bank to maximise the chances of fast and successful approval.