Spanish banks lend to non-residents buying in Sitges, but on different terms to residents. Here is what to expect on loan-to-value, rates, costs and the process — and how to prepare.
How much you can borrow
Non-residents can typically borrow 60–70% of the lower of the purchase price or the bank’s valuation — EU residents at the higher end, non-EU buyers sometimes 50–60%. Residents may reach 80%.
You will need the balance plus around 10–12% for purchase costs in cash.
Rates and type
Spanish mortgages come as fixed, variable (Euribor-linked) or mixed. Fixed rates give certainty; variable can be cheaper but carries rate risk.
Banks assess affordability on the rule that total debt payments should not exceed roughly 30–35% of net income.
Costs and the process
Since the 2019 mortgage law the bank pays most mortgage set-up costs, but you pay the property valuation (tasación) and usually a small arrangement fee. Expect to provide proof of income, tax returns, bank statements and details of existing debts.
Allow four to eight weeks for approval — start the process before you find the property. Estimate your repayments with our Spanish mortgage calculator.
| Item | Typical (non-resident) |
|---|---|
| Loan-to-value | 60–70% (EU); 50–60% (non-EU) |
| Term | Up to ~20–25 years, to around age 75 |
| Rate types | Fixed, variable (Euribor) or mixed |
| Affordability | Payments ≤ ~30–35% of net income |
| Set-up costs | Bank pays most; you pay the valuation |
Guias relacionados
Mortgage calculator ·Como comprar em Sitges ·Cost of buying ·Compra como não residente.
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Perguntas frequentes
Can foreigners get a mortgage in Spain?
Yes. Spanish banks lend to non-residents, typically up to 60–70% of the price or valuation (lower for non-EU buyers). You will need the balance and around 10–12% of costs in cash.
How much can a non-resident borrow in Spain?
Usually 60–70% of the lower of the purchase price or bank valuation for EU residents, and often 50–60% for non-EU buyers. Affordability is assessed on payments staying within roughly 30–35% of net income.
What are Spanish mortgage rates like?
Mortgages are offered as fixed, variable (Euribor-linked) or mixed. Fixed gives payment certainty; variable can be cheaper but moves with Euribor. A broker can compare current offers across banks.
How long does mortgage approval take?
Typically four to eight weeks once you submit income, tax and bank documents. Begin before you find a property so financing is ready when you make an offer.