Note
Mortgage in Spain for expats
Quick answer
An expat who lives in Spain and earns there is treated like a resident, and one who lives abroad is a non-resident. Lenders decide how they treat each. We found no official figure on how much they lend, so compare written offers and consider currency risk.
Applies toPeople living or working abroad who want to buy a home in Spain with a loan.
On this page: 10 sections
§ 1Resident or not
The label expat covers two quite different situations. If you live and work in Spain, lenders see income in euros, a Spanish address and a Spanish tax record. If you live abroad, they see foreign income and a foreign address. Lenders treat these differently, and so does tax, as the residency section explains. This page belongs to the chapter in the rules on mortgages for non-residents.
§ 2The legal frame
The mortgage credit law applies to consumers who borrow against residential property in Spain. It requires the lender to inform you, assess you, and arrange a notary meeting. It does not say how much a lender must lend to an expat, and we found no official figure. Lenders decide.
§ 3Income in another currency
If you are paid in pounds, dollars or another currency, the euro instalment moves with the exchange rate. A fall in your currency makes the loan more expensive in your terms. The law gives a borrower in a foreign-currency loan the right to convert, and the rates chapter discusses the choice of currency. Even a euro loan leaves a currency risk when your income is in another currency.
§ 4Documents
Expect to provide identity documents, your NIE, proof of income and tax records from your country, bank statements and details of your debts. The documents page in the process chapter explains them. Foreign documents may need translation.
§ 5Residence and tax
If you move to Spain, you become a tax resident under the tests in the residency section, and your income is taxed accordingly. A lender will ask about your residence status. Be consistent between what you tell the lender and what you tell the tax office.
§ 6A Spanish account
Lenders often want to debit instalments from an account in Spain. Open one early, using the steps in the banking chapter, and fund it from your own account abroad.
§ 7Next steps
Define the budget, test the instalment against currency movements, compare written offers and take legal advice on the contract. A closer look at British borrowers and a closer look at American borrowers cover the two largest groups of English-speaking borrowers.
§ 8Questions to put to a lender
Ask whether the lender lends to non-residents or to residents only, which income and currencies it accepts, whether it asks for an account in Spain, and how long the offer remains valid. Ask for the answers in writing, and keep the standard information sheet.
§ 9Return and exit
Expats often move. If you leave Spain or change country of residence, tell the lender if the contract requires it, and ask an adviser about the tax effect. A loan can be repaid early within the legal limits the rates chapter describes.
§ 10More on this topic
The deposit in detail explains the deposit and the cash needed beyond it and loan to value in detail explains the loan-to-value ratio.
A holiday home in detail explains financing a holiday home as a non-resident and self-employed borrowers in detail explains the questions a self-employed borrower faces.
Retired borrowers in detail explains the questions retirees face.
FAQRelated questions
Is it easier if I live in Spain?
Often lenders find it easier to assess income they can see in Spain. We found no official rule, so ask each lender. Residence also changes your tax position, which the residency section explains.
What if I am paid in another currency?
The instalment is in euros, so the cost changes with the exchange rate. The law gives some protection for foreign-currency loans, but a euro loan against foreign income remains exposed. Plan for movements.
Do I need a bank account in Spain?
Lenders usually want the instalments paid from an account, often one they can debit. Ask the lender what it requires. The banking chapter explains how a non-resident opens an account.
Sources
- Boletín Oficial del Estado: Ley 5/2019, de 15 de marzo, reguladora de los contratos de crédito inmobiliario (official source, opens in a new window), Articles 8, 10, 14 and 15 read; later articles not readLast checked 18 October 2026
- Banco de España: La ley reguladora de los contratos de crédito inmobiliario (Boletín Económico, 1T 2019, recuadro 5) (official source, opens in a new window), Allocation of costs, early maturity, information dutiesLast checked 18 October 2026
Financial note. No rate is printed unless it comes from a dated, official publication. Capital is at risk, exchange rates move, and no lender, broker or provider is recommended here. Mortgage terms are set by each lender; ask a registered intermediary about yours.