Yes, you can get a mortgage in Spain even if you live in the UK or Ireland, and thousands of non-residents do every year. But the terms are different from what you may be used to at home: lower borrowing limits, a larger deposit and a more thorough financial review.
This guide explains how non-resident mortgages work in 2026, what you can expect to borrow, the real costs, and the legal points that matter when you sign. (Figures here are indicative and move with the market, always confirm live rates before you budget.)
How much can a non-resident borrow?
The single biggest difference is the loan-to-value (LTV) ratio, the share of the property’s value a bank will lend. In 2026 the typical picture is:
- Residents: up to around 80% LTV.
- Non-resident EU/EEA buyers (including Irish citizens): usually up to 60–70%.
- Non-resident non-EU buyers (UK citizens, post-Brexit): usually 50–60%.
So a UK buyer should plan for a deposit of around 30–40% of the price, and an Irish buyer around 30–35%, plus the buying costs on top. This is the point that most surprises British buyers since Brexit moved them into the non-EU tier.
One crucial detail: the LTV is calculated on the lower of the bank’s valuation (tasación) or the purchase price, not the asking price or what you agreed to pay. If you agree €400,000 but the bank’s appraiser values the property at €370,000, the loan is sized off €370,000, and you must cover the gap in cash.
Don’t forget the buying costs on top
The deposit is not your only cash requirement. Remember that taxes and fees add roughly 10–15% on top of the price, and the bank will not finance those. In Murcia that includes 8% transfer tax on a resale, plus notary, registry and legal fees. We break it all down in our guide to how much it costs to buy a property in Spain.
So, a realistic cash requirement for a UK buyer is the deposit plus the 10–15% costs, all in liquid funds before approaching a Spanish bank.
What interest rates can non-residents expect in 2026?
Spanish mortgages come in three types: variable (12-month Euribor plus a fixed margin), fixed for the whole term, and mixed (fixed for an initial period, then variable). With Euribor sitting in the low-to-mid 2% range through 2026, indicative non-resident offers have looked like:
- Variable: Euribor + roughly 1.5–2.5%, giving an all-in rate around 3.8–4.8%.
- Fixed 20-year, EU buyers: roughly 3.8–4.5%.
- Fixed 20-year, non-EU (UK) buyers: roughly 4.3–5.2%.
A non-resident rate is not a “penalty” rate; the premium over a resident rate is modest. Because variable rates track Euribor, always check the live 12-month Euribor before modelling a variable deal, and compare the TAE (Spain’s equivalent of the APR), which reflects the true cost including fees, not just the headline rate.
Term, age limits and affordability
Non-resident mortgages usually run for a shorter term than resident ones, commonly up to 20–25 years, and banks typically require the loan to be fully repaid by age 70–75. On affordability, most Spanish banks cap your total monthly debt at around 30–35% of net income, and importantly they count your existing UK or Irish liabilities (other mortgages, loans, credit) in that calculation. Expect a more detailed financial review than you may be used to at home.
The costs of arranging the mortgage
Beyond the interest rate, budget for:
- Property valuation (tasación) by a bank-approved appraiser, usually a few hundred euros, and paid by you.
- Arrangement fee (comisión de apertura), charged by some banks and sometimes negotiable to zero.
- Life and home insurance, often bundled with the loan to unlock the best rate (you can sometimes unbundle and shop separately).
There is good news on tax: since the 2019 mortgage law reform, the bank pays most of the mortgage set-up costs, including the stamp duty (AJD) on the mortgage deed and the notary and registry fees for the mortgage itself. As the borrower you generally only pay the valuation and any arrangement fee.
A note for UK buyers: currency and tax
Two things deserve extra thought if your income is in sterling:
- Currency (FX) risk. If you earn in GBP but repay in EUR, a fall in the pound raises the real cost of every monthly payment. Some buyers prefer a euro mortgage precisely because it matches euro rental income; others weigh borrowing against UK equity instead. There is no single right answer, it depends on your circumstances.
- Mortgage interest and rental tax. If you let the property, be aware that EU/EEA residents can deduct mortgage interest against rental income, but non-EU residents (UK owners post-Brexit) cannot, and are taxed at 24% on gross rent. This materially affects the numbers for British landlords. We explain the non-resident tax position in our guide to non-resident property tax and Modelo 210.
Can I arrange the mortgage without being in Spain?
Largely, yes. You will need your NIE and a Spanish bank account to proceed, and much of the process can be handled remotely. Using a power of attorney, your lawyer can even sign the mortgage deed and the purchase at the notary on your behalf, so you do not have to travel for completion.
Where a lawyer fits in
We are not mortgage brokers and this guide is general information, not financial advice, always take independent advice on the loan itself and compare lenders or use a reputable broker. Where an independent lawyer protects you is on the legal side of a financed purchase:
- Checking the binding offer (FEIN) and the mortgage deed terms before you sign (only the FEIN is binding, not verbal pre-approvals),
- Making sure the valuation, purchase contract and completion all line up so you are not caught short if the appraisal comes in low,
- Confirming the bank is not passing costs to you that it should bear, and
- Coordinating the mortgage, the purchase and the tax so everything completes cleanly on the day.
You can see the full purchase process on our conveyancing service page.
Frequently asked questions
Can a UK citizen get a mortgage in Spain after Brexit?
Yes. UK buyers are treated as non-EU non-residents and can typically borrow 50–60% of the value, meaning a deposit of around 30–40% plus buying costs.
How much deposit do I need for a Spanish mortgage as a non-resident?
Plan for around 30–40% of the price as a UK buyer, or 30–35% as an EU (Irish) buyer, plus 10–15% for taxes and fees, which the mortgage will not cover.
Is the mortgage based on the price or the bank valuation?
On the lower of the two. If the bank’s appraisal is below your agreed price, the loan is calculated on the appraisal and you cover the difference in cash.
Do I have to be in Spain to sign the mortgage?
No. With a power of attorney, your lawyer can sign the mortgage and the purchase deed on your behalf, so the whole transaction can be completed remotely.
Are non-resident mortgage rates much higher?
Only modestly. The premium over resident rates is small, though non-EU buyers usually see slightly higher fixed rates than EU buyers.
Buying with a mortgage in Murcia?
If you are financing a purchase on the Costa Cálida, we will handle the legal side, review the mortgage and deed, coordinate with your bank and complete the purchase, in your own language, whether or not you can travel.
Book a consultation or contact PALS in Puerto de Mazarrón and Alhama.
Antonio Legaz Morales
Antonio Legaz Morales is the founder and CEO of PALS Solicitors. A qualified Spanish lawyer, he is a registered member of the Ilustre Colegio de Abogados de Cartagena (Bar Association of Cartagena, Murcia), collegiate number 1106, and holds a law degree from the Universidad San Pablo-CEU in Madrid.
With more than 25 years in active legal practice, Antonio specialises in property conveyancing, Spanish tax, and inheritance and succession law for international clients on the Costa Cálida. He advises UK, Irish and other foreign nationals buying, selling and inheriting property across Puerto de Mazarrón, the Mar Menor and Condado de Alhama, guiding them through the Spanish legal and tax system in plain English.
View his professional profile on Legalia.
