Financing shapes what you can buy.
Spanish lending is conservative and document-heavy. Understanding it early prevents a purchase from falling apart late.
Borrower profiles
Spanish resident
Employed or self-employed in Spain, filing Spanish tax returns. Generally the widest access to lenders and products.
Non-resident buyer
Income and tax residence outside Spain. Fewer lenders, more documentation, and typically a lower maximum loan-to-value.
Expat, newly arrived
Living in Spain but with a short local track record. Lenders look closely at contract type, probation period and income history.
Loan-to-value limits, rates and criteria vary by lender, profile and market conditions. We deliberately do not publish figures we cannot verify for your situation.
Fixed, variable or mixed
Three structures.
Fixed-rate mortgages give a stable payment for the life of the loan. Variable rates are typically tied to Euríbor plus a margin, and move with it. Mixed products fix the rate for an initial period, then convert to variable.
The right choice depends on how long you plan to hold the property and how much payment variability you can absorb.
Documents lenders ask for
- Passport and NIE
- Proof of income — payslips or company accounts
- Tax returns from your country of residence
- Bank statements, usually 6–12 months
- Employment contract or proof of self-employment
- Statement of existing debts and credit commitments
- The property documentation and Nota Simple
The sequence
Valuation, offer, notary.
Once you have a property, the lender commissions an independent valuation (tasación), issues a binding offer, and Spanish law requires a pre-signing information period before the mortgage deed is signed at the notary. Timelines vary by lender and by how complete your documentation is when you start.
The Madrid Property Buyer Guide 2026
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