What are the best Spanish mortgages for foreigners?

Sabadell, Cajasur, Unicaja, Bankinter, BBVA, Santander, Caixa, and Hipotecas.com are among the banks from Spain that offer mortgages for those who earn income from abroad.

The interest rates are generally going up all over Europe so the info under here is not 100% updated.

Sabadell Mortgages

Sabadell Bank is one of Spain’s most competitive mortgage lenders, serving a wide set of non-resident applicants. If you want to move forward with Sabadell, you should know the minimum property purchase for non-residents is 150.000 EUR. The variable rate is 1.2% + Euribor 12m, and the term range varies between 3 and 25 years. 

Cajasur Mortgages

If you’re interested in buying a house in the Costa del Sol and Andalusia areas, a great option would be a mortgage from Cajasur. You can borrow between 80.000 and 1.000.000 EUR at an initial rate of 2%. However, depending on the customer profile, you should know there is a 0-1.5% opening fee. 

Unicaja Mortgages

Unicaja Banco is a flexible Spanish lender with a wide offering for non-residents. You can access a mortgage with a 1.25% fixed rate in the first year and a 1.5% + Euribor 12m rate subsequently.

After the bank approves your application, they will open an account at Unicaja Banco to directly debit the repayments and sign the mortgage at the notary’s office of your choice.

Santander Mortgages

Santander’s Mundo Mortgage for non-residents provides a broad range of options for individuals seeking to purchase a second home in Spain, with loan amounts ranging from 100,000 to 1,000,000 EUR and both fixed and variable rates.

The variable rate is 2.13% + Euribor 12m, and the term range varies between 1 and 20 years. 

Bankinter Mortgages

Bankinter is one of the best options for applicants from the US and UAE. You have access to a choice of a fixed-rate or a variable-rate mortgage. 

If you prefer to pay a fixed monthly amount, you can choose the same interest rate and installment for the entire mortgage term. If you want to adapt to the market situation, you can have a Euribor-indexed variable interest rate, to which Bankinter adds a fixed spread. 

BBVA Mortgages

BBVA’s mortgage solutions for non-residents provide both fixed and variable-rate options, with repayment terms extending to 30 years, easing financial strain with manageable installments. 

The loan amount offered ranges from €100,000 to €2,000,000, accommodating various financial needs and welcoming applicants from various nationalities and residency countries. However, BBVA’s services are restricted to those earning Euros and applying from overseas.

Caixa Mortgages

CaixaBank’s Holabank mortgage scheme is tailored for non-residents seeking to invest in the Spanish real estate market, offering two types of mortgages: a fixed rate for up to 20 years with a bonus at a rate of 3.35% and without bonus at a rate of 4.35%

The scheme’s wide acceptance of multiple currencies, high loan amounts, and an extended term range of 5-20 years to various financial situations. 

Hipotecas.com Mortgages

If you’re searching for a flexible non-resident lender offering mortgage options for new-builds and fixer-uppers, including financing for renovation, Hipotecas is your answer. The minimum property purchase for non-residents is 150.000 EUR, while the minimum mortgage is 60.000 EUR. 

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