Funding rate Spain

Funding rate

The maximum financing rate in Spain is currently the same at all banks: as a non-resident buyer, up to 70% of the purchase price can currently be financed. Depending on the type of land registration, up to 60% can be financed with some banks. Mortgage & Abroad has multiple contacts with nationwide Spanish banks that cater to non-resident clients. So there is something to choose from.

For residents of Spain, up to 80% can be financed. For residents, there is a wide choice of banks; even banks that do not have a separate department for non-resident buyers can go there.

For non-residents of Spain, the maximum funding rate is 70%. The playing field of banks that can finance non-residents is limited, but there is certainly something to choose from. A handful of Spanish banks have a separate department that also caters to non-resident customers.

There are currently no Dutch banks financing foreign houses.

The lower the loan rate the lower the risk to the bank and the sooner a bank will usually be willing to grant a mortgage loan. Keep in mind that it is not true that the lower the loan amount the easier it becomes to get a mortgage. For loan amounts under €100,000, the banks are not hot.

If the equity comes into the purchase of another loan, that is a problem for some banks. People want to see their own money come from savings.

Non-residents are defined as buyers who are not yet (tax) residents of Spain at the time of purchase.