Applying for a Mortgage in Spain – Up-to-Date Information for International Buyers
- nerjawithsanna
- Jun 4
- 1 min read
Buying a property in Spain, for example in Nerja, is a dream for many. One of the most common questions I receive from my international clients concerns the terms under which Spanish banks grant mortgages to foreign buyers. I recently visited a local bank to discuss the current lending criteria, and here is a clear and reliable summary.
If you plan to purchase a home for personal use, banks currently require a minimum down payment of 30%. If the property is intended as an investment and will be rented out, the required down payment increases to 50%. This reflects banks' more cautious approach to financing investment properties.
You can apply for a loan jointly even if you're not married – your marital status has no effect on the bank's decision. You are also free to divide the loan share between applicants as you wish.
The maximum loan term is 25 years. The interest rate is currently linked to the 12-month Euribor, with the bank’s margin depending on your financial background and submitted documents.
I'm happy to support you through every step of the process – from searching for and finding the right property, to mortgage negotiations and signing at the notary. You'll have a reliable, local expert by your side who understands both the market and the procedures.
If you have any questions or would like to explore your financing options, don’t hesitate to get in touch.
