Help with Mortgages

Categories: Additional Information

Getting a Mortgage for Buying Property in Spain

Are you considering financing your property purchase here on the Costa Blanca South? SolMar Properties can put you in touch with trusted, specialist mortgage brokers. They work with both non-resident and resident buyers. They will help you find a mortgage for buying property in Spain that suits your circumstances, and guide you through the Spanish lending process from start to finish.

Spanish mortgages are available to non-residents as well as residents. As a general guide, non-residents can typically borrow up to around 70% of the property’s value. Residents can often borrow up to around 80%. The exact percentage you are offered will depend on your personal circumstances and the lender’s own criteria. We always recommend getting a clear picture from a specialist broker early on.

Getting Mortgage Advice Early

We strongly recommend seeking professional advice as early as possible when arranging a mortgage for buying property in Spain. Arranging your finances beforehand gives you a clear budget to work with. It also lets the lender assess what proportion of your income is already committed to existing debt.

Each lender sets its own maximum loan-to-value percentage, and this can change over time. It’s worth asking your broker for the latest figures when you begin your search. For an official overview of how mortgage lending works in Spain, the Banco de España mortgages guide is a useful starting point.

Documents You Are Likely to Need

To apply for a Spanish mortgage, you will typically be asked to provide:

  • Passport
  • Proof of current address
  • Recent bank statements (usually the last six months)
  • Recent payslips (usually the last three months)
  • Your most recent annual tax summary
  • Two years of accounts, if you are self-employed
  • Proof of your current mortgage or rent payments

Remortgage Options

If you already own a property in Spain or in your home country, a remortgage may be worth considering. It can help release funds towards your Costa Blanca South purchase. This allows you to pay off your existing mortgage using funds from a new one, secured against the same property. A specialist broker can talk you through whether this route makes sense for you. It’s worth raising it with them early on so they can advise on your options.

Please note that SolMar Properties does not provide mortgage advice directly. We can refer you to trusted, specialist brokers who work with international buyers in Spain. Any mortgage decision should always be made in consultation with a qualified financial adviser. If you’d like to understand the wider purchase process, our Buying Guide and our page on finding an independent solicitor in Spain are good places to start.