Dont know your age but Spanish mortgages are in some ways more flexible than the UK. Morgages are often available up to 30 or in some instances 40 year terms and up to a max age of 70 years. All of this of course is subject to you being able to demonstate your ability to service the mortgage, in the circumstance that you describe e.g. retiring you would need to provide some source of income for the bank to consider a mortgage. Other points to consider is that the bank will charge an arragement fee often 1% (refered to as opening commision) and normally an early redemtion fee often 1% so you need to balance all this against your decisions.