Applying for a mortgage in Spain


If you want to apply for a mortgage in Spain, or get an idea of how much you can borrow, the first step is to gather the information you need for pre-qualification, which all lenders will want to see.

No matter which lender or broker you talk to, they will all want to see the same sort of information regarding the property you want to buy, and your financial circumstances. They need this information to pre-qualify your interest, which means decide if it is worth your while to make a full application.

So a sensible first step is to gather all the information you need for pre-qualification, which makes the next step of approaching brokers and lenders more straightforward. The form below will help you take that first step. It covers the questions that most lenders will ask, and leaves you with a useful document that you can share with brokers and lenders.

Once you have filled in the form below and pressed submit, you will be sent a useful document with all the information you have provided in a format that facilitates your pre-qualification. This saves you time and hassle. You can then send this to mortgage brokers and lenders for pre-qualification.


Before you fill in the form, please note that maximum loan-to-value for non-residents in Spain today is around 70%, less in many cases. You also need to cover buying costs (taxes and fees), which could be as high as 12% to 15% (10% in the Canaries), so allow for that in your budget. That means you will need your own funds to finance at least 40% to 45% of the total cost of buying a Spanish property (30% of the value, plus 15% of fees). So you are probably wasting your time applying for a mortgage if you don’t have at least 40% of the money you will need to cover the whole cost of the purchase. If you want to re-mortgage, it is unlikely you will end up any better-off, so it’s probably not worth the effort approaching new lenders. In most cases, trying to renegotiate your mortgage terms with your existing lender is the best option.


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