You live in the UK. You want to buy a villa on the Costa del Sol, a townhouse in Andalucia, or an apartment in Palma. Spanish banks lend to UK non-residents up to about 70 percent LTV, EUR-denominated, typically Euribor plus a margin of 1.5 to 2.5 percent. Fixed-rate products are available at 3.5 to 4.5 percent. Arrangement fee about 1 percent. NIE (Numero de Identificacion de Extranjero) required before completion.
Typical numbers, non-resident
- LTV up to 70 percent (some lenders 60 percent for holiday-let use).
- Currency EUR. Rate Euribor plus 1.5 to 2.5 percent margin, or fixed 3.5 to 4.5 percent.
- Arrangement fee about 1 percent of loan.
- Notario fees, land registry, plus valuation. Budget 10 to 12 percent of purchase price for all-in fees and taxes.
- Life-insurance requirement common; property insurance mandatory.
Process, plain-English
- Offer accepted, sign a reservation contract (contrato de arras), typically 10 percent deposit.
- Apply for NIE and open a Spanish bank account.
- Our Spanish partner broker sources the mortgage from panel banks and returns terms in writing.
- Valuation (tasacion) instructed by the chosen bank.
- Notario appointment for completion (escritura). Funds are wired via the Spanish bank account. Property is registered at the Registro de la Propiedad.
We are a credit broker and not a lender. Whichever lender we introduce you to, we will typically receive commission from them after completion. Where we refer you to a third-party overseas broker we may receive an introducer commission. This does not affect the amount you pay.