Good news for foreign buyers: more and more Spanish banks finance non-residents, and it’s getting easier. The key isn’t your nationality — it’s your deposit.
Your deposit is the real key
As a non-resident, expect a deposit of 20–30% of the price, sometimes up to 40% depending on your profile. Once that deposit is in place, banks lend fairly easily. It’s often this deposit level, more than the file itself, that unlocks (or blocks) the loan.
EU vs non-EU: it changes things
If you’re an EU national, the process is simpler. Outside the EU it’s a bit more complex: it depends on your country and on anti-money-laundering checks, which require you to better justify the origin of funds. Expect more paperwork — official translations, apostille and extra supporting documents.
Why Spanish banks like non-residents
It may sound surprising, but financing a non-resident is attractive for the bank. A resident already has their accounts, insurance and products locally. A non-resident typically takes out more insurance with the loan: life, home, sometimes car and others. The bank earns more on the deal — which is why they are increasingly open and keep improving their offers for foreigners.
Which banks finance non-residents?
Several major names are active here: Banco Sabadell, CaixaBank, Santander, Ibercaja… as well as smaller, local banks around the big cities, sometimes very competitive. Crucial point: each branch has its own conditions. Two branches of the same network may not offer the same rate or deposit. So compare, branch by branch, and don’t stop at the first offer.
Do you need a broker?
For a long-term purchase, using a broker is often recommended. It’s an extra cost — generally €1,500 to €2,000 (above that, shop around). In return, a good broker has a strong chance of securing a higher financing percentage — and therefore a lower deposit. For many buyers, that’s exactly where the project becomes feasible.
In short
Financing a property in Spain as a non-resident is entirely accessible today: gather a 20–40% deposit, prepare your documents (translations and apostille outside the EU), compare several banks and branches, and consider a broker to maximise your financing. Also factor in purchase costs (transfer tax, notary, agency) in your overall budget.
This information is provided for guidance only: conditions vary by bank, branch and situation. Get professional advice before committing.
Financing a purchase in the Valencia area? Let’s talk — we point you to the right banking contacts and structure.