Which Spanish Banks Lend to Non-Residents? A Lender Comparison for Foreign Buyers

If you're buying property in Spain without Spanish residency, your mortgage options are narrower than a local's — but they're better than most foreign buyers realize. A handful of Spanish banks have dedicated non-resident desks, English- or French-speaking underwriters, and standardized products for buyers from the US, Canada, the UK, and the EU. Others technically accept non-resident files but drag their feet or price you out.

This guide walks you through which Spanish banks lend to non-residents, how their offers typically compare, and how to run a smart shortlist. Rates, LTVs, and fees shift with the market and with each borrower's profile — treat every number below as indicative, and confirm current terms directly with the bank or a licensed mortgage broker before you commit.

Who counts as a "non-resident" borrower

For mortgage purposes, a Spanish bank considers you non-resident if you don't have fiscal residency in Spain (you're not filing IRPF as a resident and don't hold a residence card or certificate). Nationality is largely irrelevant — a French citizen living in Dubai and a US citizen living in Miami are both underwritten as non-residents.

Two practical consequences:

• Lower LTV. Non-residents typically borrow up to 60–70% of the lower of purchase price or bank appraisal (tasación), versus up to 80% for residents. EU non-residents sometimes get slightly better LTV than non-EU.
• Larger cash cushion required. On top of the down payment, budget roughly 10–14% of the price for taxes and closing costs (ITP or VAT, notary, registry, gestoría, and mortgage setup).

The main Spanish banks that lend to non-residents

The lenders below all run active non-resident mortgage programs. Product mixes and appetite change quarterly, so use this as a starting shortlist rather than a ranking.

Banco Santander

Santander is one of the most consistent non-resident lenders and has English-speaking teams in coastal branches (Costa del Sol, Costa Blanca, Balearics, Canaries).

• Products: Fixed, variable (Euribor-linked), and mixed (fixed for the first 5–15 years, then variable).
• Typical LTV: Up to 70% for EU non-residents; often 60% for non-EU.
• Term: Up to 25–30 years, with an age cap around 75 at maturity.
• Strengths: Deep international footprint — if you're already a Santander client in the UK, US, Mexico, or Poland, they can pull your file more easily.

BBVA

BBVA has a well-developed non-resident channel, particularly for buyers from the US, Mexico, and Northern Europe.

• Products: Fixed and mixed dominate; variable available.
• Typical LTV: 60–70% depending on profile and property location.
• Strengths: Strong digital onboarding, clear documentation checklists, and generally competitive fixed rates. They tend to like salaried professionals with clean debt-to-income ratios.

CaixaBank (and HolaBank)

CaixaBank runs HolaBank, an expat-focused platform bundling account, cards, insurance, and mortgage.

• Products: Fixed, variable, and mixed. Bonifications (rate discounts) if you take home insurance, life insurance, and direct-debit a payroll or pension.
• Typical LTV: Up to 70% for EU citizens; lower for non-EU.
• Strengths: Multilingual service (English, French, German, Dutch) and strong presence in tourist regions. Good option if you want one bank handling everything.

Sabadell

Sabadell markets aggressively to British, Dutch, Belgian, and Scandinavian buyers on the Costas.

• Products: Fixed, variable, mixed.
• Typical LTV: Around 60–70%.
• Strengths: Historically flexible on second-home files and pension-based income. Rate bonifications are meaningful if you take their bundled products.

Bankinter

Bankinter is more selective but competitive for higher-income, higher-net-worth non-residents.

• Products: Fixed rates are their flagship; variable also available.
• Typical LTV: 60–70%.
• Strengths: Sharp pricing for strong files; a good fit if your income is well-documented and your loan sits in the €300k+ range.

Unicaja, Ibercaja, Abanca, Kutxabank

Regional banks worth checking depending on where you're buying:

• Unicaja — strong in Andalusia (Málaga, Granada, Almería).
• Ibercaja — active in Aragón, Valencia, and parts of the Costa Blanca.
• Abanca — Galicia, Asturias, and increasingly the Canaries.
• Kutxabank — Basque Country and Cantabria, plus a growing non-resident offer.

Regional banks can surprise you on rate or LTV when the national banks turn cautious, but service in English is uneven — a bilingual broker helps.

Digital and specialist channels

• MyInvestor, Openbank (Santander's digital arm), and EVO Banco occasionally offer sharp fixed rates online, but non-resident acceptance varies and documentation is more rigid.
• UCI (Unión de Créditos Inmobiliarios) is a specialist mortgage lender co-owned by Santander and BNP Paribas that has historically been open to non-resident files.

What lenders actually compare on

Once you have offers in hand, don't fixate on the headline rate. Compare the TAE (Tasa Anual Equivalente) — the all-in annual cost — and read the FEIN (the binding pre-contractual information sheet the bank must give you at least 10 days before signing at the notary under Law 5/2019 on real-estate credit contracts).

Key line items to scrutinize:

• Nominal rate (fixed, variable, or mixed) and any bonifications tied to insurance, cards, or payroll.
• Opening / arrangement fee (comisión de apertura), often 0.5%–1.5% or waived.
• Early repayment / cancellation fees — capped by law, but the exact cap depends on whether the loan is fixed or variable.
• Tasación (appraisal) cost, paid by you but ordered through an approved firm.
• Floor/ceiling clauses on variable products (post-2019 loans generally can't have abusive floors, but read carefully).
• Currency of the loan. Almost all Spanish mortgages are in euros. If your income is in USD, CAD, or GBP, you carry the FX risk between paychecks and payments.

Documentation you'll be asked for

Non-resident files are heavier on paperwork. Prepare in advance:

• Passport and NIE (Número de Identidad de Extranjero) — you cannot close without an NIE.
• Last 2 years of tax returns (IRS 1040, CRA T1, HMRC SA302, or the equivalent).
• Last 3–6 months of payslips or, if self-employed, accountant-certified income.
• Last 6–12 months of bank statements across your main accounts.
• Credit report from your home country (SCHUFA, Experian, Equifax, etc.).
• Employment letter or, for retirees, pension award letters.
• Draft contrato de arras (deposit contract) or private purchase contract for the target property.

Documents in English are usually accepted; anything in another language may need a sworn translation (traducción jurada).

Common pitfalls

• Assuming pre-approval means final approval. The binding offer comes after the tasación and full underwriting.
• Underestimating closing costs. Plan for roughly 10–14% on top of the price for a resale; new-build with VAT can be similar or slightly higher.
• Signing arras before you have mortgage clarity. If financing falls through, your 10% deposit is often forfeit unless the contract specifically makes it conditional on the mortgage.
• Ignoring the 10-day cooling-off period. You are legally entitled to it — don't let anyone rush you past the FEIN review at the notary.
• Source-of-funds paperwork. Under Spanish anti-money-laundering rules, the bank and the notary will ask where your down payment came from. Have a clean paper trail from your home-country accounts.

Short FAQ

Can I get a Spanish mortgage without visiting Spain? Often yes, but you'll need a power of attorney (poder notarial) signed at a Spanish consulate or apostilled abroad. Some banks still require an in-person interview.

Are fixed or variable rates better right now? It depends on the Euribor curve and your holding period. Mixed loans (fixed for 5–15 years, variable after) have become popular for a reason. Get quotes on all three structures and compare TAE.

Do US citizens face extra hurdles? Yes — FATCA reporting means some banks are pickier with US-person accounts. Santander, BBVA, and CaixaBank generally handle US files without drama; smaller banks may decline.

Should I use a broker? A licensed Spanish mortgage broker (intermediario de crédito inmobiliario registered with the Bank of Spain) can save weeks and often gets better bonifications than you'd secure walking in cold. Fees are typically 1% of the loan or a flat amount — ask upfront.

Final word

Mortgage terms, LTV caps, and rate bonifications change with each bank's quarterly appetite and with ECB policy. Everything above is a starting framework, not a quote. Before you sign anything, get at least three written offers, review each FEIN carefully, and consider having an independent Spanish abogado — not the bank's or developer's lawyer — review the mortgage deed alongside the purchase deed. Laws and figures change, and small differences in fine print compound over a 25-year loan.