How Much Does A SPANISH MORTGAGE Cost?

How much does a Spanish mortgage cost? 

Page updated 22/10/2026

For a Mortgage of 80,000 EUR for a Purchase Price 135,000 EUR (59%) over 20 years   
 
Example 1
Fixed Rate
A fixed rate of 3% fixed for 20 years 
At 3% Approximate monthly repayments fixed at €443.67
Arrangement Fee 0%
Early repayments charges estimated 2% of amount repaid for first 10 years, 1.5% thereafter    
A property valuation fee will apply.
To benefit from the lowest rates the bank will require you to contract additional services such as  life/health insurance, home insurance a bank account and a serviced home alarm system (Alarm system – approx 65 euros per month). By not taking additional products the interest rate will increase by up to 1% (0.25% per product)
For a Mortgage of 80,000 EUR for a Purchase Price 135,000 EUR (59%) over 11 years 
This bank may allow a mortgage term up to the age of 75 subject to bank assessment of a full application – this quote is for a mortgage term of 11 years
                                                                                                                                                                    Example 2
Variable rate
A variable rate fixed for the first 1 year only at 2.9% followed by euribor + 1.4% for the remainder of the term.
Monthly repayments fixed for 1 year only at €708.58 followed by €773.79 variable based on current 12 month euribor. 
Arrangement Fee 1% of mortgage amount payable at completion 
Early repayments charges 0.25% of amount repaid early for first 3 years, 0% thereafter
A property valuation fee will apply.
To benefit from the lowest rates the bank will require you to contract additional services – life insurance, home insurance and a bank account. By not taking additional products the interest rate will increase by up to 0.75%
For a Mortgage of 80,000 EUR for a Purchase Price 135,000 EUR (59%) over 16 years 
                                                                                                                                                                            Example 3
Mixed Rate
A rate fixed for the first 3 years only at 3.2% followed by euribor +1% for the remainder of the term.
Monthly repayments fixed for 3 years only at €532.93 followed by €573.34 variable based on current 12 month euribor. 
Arrangement Fee 1% of mortgage amount payable at completion 
Early repayments charges  2% of amount repaid early for first 3 years and 0.15% for the following 5 years   
A property valuation fee will apply.
To benefit from the lowest rates the bank will require you to contract additional services such as life insurance, home insurance and a bank account. By not taking additional products the rate can increase by up to 1.3% (life insurance 0.9%, home Insurance 0.4%)                                                 
Other Factors To consider:
                                                                                                                                                                  Please allow 10-14% of the purchase price for purchase taxes and associated fees. 
Evidence of available funds to cover deposit, taxes and fees will be required at application stage. These funds should not come from other forms of borrowing.                                                                        
In Spain the lenders will not reserve the rates until 2 weeks prior to completion therefore this quote should be referred to as an estimate as rates and conditions can change at any time. All rates quoted are subject to a full application assessment by the bank.                                                 
Some properties can be more difficult to arrange a mortgage on, in particular those classed as rustic or touristic.                                                                                                                                              
I would recommend having your mortgage approved in principle before you make any financial commitment on a property in Spain and if you would like to proceed you can transfer the initial Administration Fee of 795 EUR here:

                                                                                                                                                              Which documents would you need to provide for a Spanish mortgage?

Spanish banks would typically ask for the following information as part of the mortgage process.

Completed application form – or if you’ve got one you’ve done from another bank might save you doing another. Passports and NIE’s if available. 

Work contract, last P60 or equivalent and last three payslips if employed. Last three years complete person tax returns and last three years company accounts if self employed.

Copy of tenancy agreement of any Buy to Let Properties, or portfolio excel if numerous.

Last six months bank statements where any incomes received and mortgages, loans or rent paid. Last six moths statements of savings and assets, also excel statement of assets and liabilities if numerous.

Copy of credit report showing current mortgages and loans. Or statement from the lender where doesn’t appear in report.

Advert and nota simple of property looking at and the property reservation agreement if completed.

Call YourSpanishMortgage today on +44 7515 771 947 and take the first step towards owning your home in Spain. 

Submit Your Spanish Mortgage Enquiry

You're on step 1/2:

Frequently Asked Questions

Can I get a Decision in Principle for a mortgage if I have not found a Spanish property?

A huge number of buyers lose properties because they do not have the finance in place.

It is important to get a mortgage in principle agreed before you submit and offer to buy a Spanish property.

You can give the mortgage lender a guide to your budget and let them know the areas you like. The bank would work out the average property price in the area and they can then let you know the taxes you would pay.

 

How long does the process normally take to buy in Spain?

Our specialist can get mortgages agreed very quickly.

Once the mortgage application is submitted a decision in principle normally comes back within a few days. The property valuation often takes a week.

Once the mortgage and property is approved and the mortgage is offered it needs to be signed digitally.

The property can then be uploaded to the notary service which then starts the legal cooling off period in Spain which lasts for ten days.

After the ten days completion can happen at the notery providing the ‘transparency act’ document has been signed at least a day before completion of the purchase.

Am I allowed to let a property with a standard Spanish mortgage?

Most lenders allow homes to be let out when the owners is not staying there. 

Can I get funding to build my own Spanish home?

Spanish lenders can provide self-build mortgages.

They typically expect the plot to be purchased with cash or a loan, after that they can fund up to 100% of the construction costs, with the funds being released in stages.

How much deposit do you need for a Spanish mortgage?

To a non Spanish resident buyers will need a 30% deposit, so 70% of the purchase prices.

Costs and fees will normally be between 8% and 14% of the purchase price.

Is there a minimum or maximum Spanish mortgage loan amount?

The minimum mortgage amount is normally €100,000 euros with no maximum loan size.

What sort of Spanish property can I purchase?

Spanish mortgage lenders prefer urban properties designed for residential use but they can also provide funding for rustic homes and investment properties

How much deposit do you need for a Spanish mortgage?

o a non Spanish resident buyers will need a 30% deposit, so 70% of the purchase prices.

Costs and fees will normally be between 8% and 14% of the purchase price.

Submit Your Spanish Mortgage Enquiry Or Call Our Experts

What Our Customers Say

We have some fantastic reviews from satisfied clients

James Hall

Your Spanish mortgage specialist helped me get a great mortgage. Thank you. 

Peter Hughes

Supportive, helpful, a tentative and responsive and all-round a pleasure to deal with.

Sarah Davis

Your mortgage contacts helped me get my dream holiday home.

David Smith

You made the process of buying a property in Spain more straightforward. I would recommend the service.