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More and more foreigners are choosing to buy property in Spain.

Our 300 days of sunshine a year, the pleasant temperatures and our lifestyle are, without a doubt, a great attraction for many foreigners who decide to live in Spain in the years after retirement or enjoy long periods of time in our country.

It is true that, in the case of foreign residents and non-residents, there are a series of requirements, especially in terms of documentation, that the bank where the mortgage is requested must analyse in order to be able to grant it.

Here are some of the obligatory documentation and some of the particularities that you need to know if you are going to apply for a mortgage in Spain.

What documentation do I need to present to the bank in order to be granted a mortgage if I am a foreigner?

In reality, the documentation that we must present at the request of the bank with which we want to sign our mortgage does not differ too much from those required of a national, with the exception of certain documents regarding the economic viability of the purchase and, above all, of the client.

In general terms, the documentation that banks usually ask for in order to grant a mortgage to a foreign person is the following:

  • Photocopy of the NIE or passport.
  • Tax residence certificate.
  • Employment contract and the last 3 pay slips received in the country of residence.
  • Tax return for the last year.
  • Bank statement of the account that receives the salary as well as the bank movements that have taken place in the last 12 months prior to the application.
  • Record of your current assets, such as title deeds or bank accounts.
  • Nota simple registral of the property to be purchased.
  • Contract of sale of the property or earnest money contract.

Do nationality and the fact of being a resident or non-resident play a role?

In this case, the nationality of the applicant is not a primary requirement in the same way as, for example, the economic analysis of the applicant or the price of the property.

However, it is true that there are countries of origin that can be considered more risky than others depending on the economic situation of the countries and, therefore, it can affect at certain times.

On the other hand, an important aspect that is taken into account by banks is whether or not the foreign applicant is a habitual resident in Spain.

If nothing indicates otherwise, mortgages for foreigners resident in Spain are no different from those granted to Spaniards. In the case of applications from foreigners not resident in Spain who want a mortgage to purchase a property, there are some special conditions.

In this case, banks can limit the amount of the loans, the interest rate, the years of the mortgage or the minimum amount of money that must be available to obtain the financing.

In addition, banks may request a credit risk report from non-residents in order to check and analyse their economic activity and solvency in the country where they live and work.

Also, when the capital contribution for the mortgage is presented, they may request the justification of the money contributed in order to avoid money laundering operations.


MAM Solicitors has over 30 years experience in the sale and purchase of property, in particular representing buyers and sellers whose residence is outside Spain so that they do not have to worry about legal and administrative formalities.

If we can help you, please do not hesitate to contact us.

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