Mortgages for
expats in Spain

We are pleased to provide expert help and guidance in obtaining your dream home in Spain. We aim to answer the 3 Key questions that you might be asking if you are considering a mortgage for your Spanish property.  

  •       How much can I borrow?
  •       How much will it Cost?
  •       What Charges and Fees can I expect ?

Call us

You can call us 7 days a week for Mortgage advice and information


Spanish Mortgage Calculators

We provide introductions to banks specialising with mortgages for Non-Residents up to 70% & Residents up to 80% against Value or Purchase price.

What’s more our service is entirely ONLINE, thats right.. you don’t need to leave your home or get a flight to obtain and secure a mortgage approval, we can assist with the whole process virtually!

Not only that, our finance network and partnerships mean we can provide a full 100% cross border service with Regulated UK mortgages to release capital to increase your deposit funds for your overseas purchase from your property in the UK (criteria dependent) . We have helped many clients secure 100% finance with our services!!

Call us

You can call us 7 days a week for Mortgage advice and information


How much can you borrow with a Spanish mortgage?

Loan to Value Spanish banks will lend to foreign nationals and the maximum loan to value is 70%.

If the applicant can demonstrate paying taxes in Spain ( so a Spanish tax resident ) then most banks can lend up to 80% 

What costs should I budget for?

The following is an example:

  • Taxes                     10%
  • Stamp Duty        0.5 > 2%
  • Solicitor                >1%
  • Notary                  >0.5%
  • Mortgage            >1.5%
  • Valuation             >€800 approx (dependent on value)

As a safe guide you are best to budget around 15% in costs associated with purchasing in Spain.  

Example: A  €100,000 property you can expect to pay in the region of €15,000 in fees.

How does affordability get calculated?

Spanish banks work differently to UK lenders. A Spanish bank looks at the net income as the measure by which all borrowings including loans and car loans should be supported. 

Typically a Spanish bank will calculate this to be no more than 1/3 of the net income ( after tax and social insurance) 

Mr Tandy – Gross income is £85,000 net is £53,125  after tax, social & pension deductions. This provides take net home monthly pay of £4,427 

Of this £4,427 around £1,460  (1/3) can be used in support of the new Spanish mortgage payments, but it also must support any other loans such as a UK mortgage or unsecure loans. 

To provide a reference point- 
€150,000  at 2.5% over 25 years = €680 pcm* 

*The above does not include insurances or other related costs. 

Can you access 100% lending?

No banks will offer 100% financing to foreign reisdents. As a bespoke UK/ Spain / EU broker, we can do a combination of lending to secure 100% financing  example:

Spanish Property Worth  €200,000  + 15% costs  total: €230,000 

UK property – worth £500,000 with £200,000 mortgage Equity within it of  £300,000 

Borrow 50% off the equity in the UK £150,000 converts to €172,500 

Spanish Property 

Borrow the remaining €57,500 from the Spanish bank which would be a low 28% LTV.

Only a regulated UK licensed broker can help with the possible scenario above.  

What is the oldest you can take a Spanish mortgage to?

Banks generally permit a repayment term up to age 75, however we have relationships with some banks that will permit a mortgage up to age 80 at term end.

There may be a requirement for an affordability assessment of your proposed income past retirement age.

What interest rates can I expect to pay?

A difficult question to answer, rates range from 0.9% above Euribor to 4.8%  it really depends on the bank, the loan to value and the calibre of the client to some extent. 

To be safe somewhere in the middle is best to budget for. However as a specialist broker we look to secure the best possible deal. 

What banks do you work with?

We work with all the major banks in Spain and some you may not have heard of. In fact there are also a number of international banks that operate in Spain such as ING and non High St lenders such as UCI .

We are able to provide access to the best deals. 

Why should I use a broker?

It is difficult to deal with Spanish banks, especially if you don’t speak Spanish, or in deed if you are not sure how to navigate the purchase process. In addition you will need to open a bank account an have an NIE number, we can assist with all of the steps well in advance of your planned purchase. 

An FCA regulated broker can also secure you the best deals by searching the market and price comparing with other banks. Ultimately you will get a better deal than going it alone. We are also UK regulated and while Spanish mortgages are not regulated, we still follow the UK  best practices to ensure you have a good level of consumer protection and advice. 

A broker will also organise all the paperwork and can screen the documents to ensure the bank are getting what they need. We provide only the relevant information to the Spanish bank, in practice we have seen sometimes too much information is not a good thing! 


What documents will I need?

It is much the same process and requirement of documents  as the UK mortgage process. Usually we require

  • ID
  • Address verification 
  • Income verification  employed or self employed
  • Credit report 
  • Wealth statement Assets Versus Liabilities
  • Tax Ref number 
  • Overview of commitments
What are the advantages of a Spanish mortgage?

Aside from the obvious advantage of not having to use you own hard earned savings, you may be able to benefit from a reduced tax bill, either from an inheritance tax or rental income tax liability. 

In addition with the stronger Euro and weaker Sterling, getting a Euro mortgage may reduce exchange rate risks. A mortgage may give you the ability to up your budget to a better or bigger property too, one that the whole family may enjoy!

What about Brexit & buying in Spain ?  No-one is able to predict the legal outcomes from Brexit. However buying in Spain has always been a popular investment and lifestyle choice that was popular in the 1970’s prior to the formation of the EU and throughout EU membership, so we don’t believe this will change Pre or Post Brexit.

In fact many buyers want to secure a property prior to Brexit in order to get into Spanish Property Ownership prior to any residency or tax changes that may come post Brexit.

Additionally we are see-ing an increase in enquiries and general building in Spain from Major Builders & Developers such as TaylorWimpey / PrimeInvest / Kronos. We believe now is the time to secure your dream home abroad.

What about renting out my property for holiday income?

Spain has a fantastic holiday rental income yield, you can expect between 8-15% gross return dependent on area and facilities. We can guide on the best areas and properties to invest for this revenue stream.

Be aware that there are extra government legalities to complete when renting for holiday let income.

We can give advice on this and other tax related matters.

Brillant, hassle free, time saving, excellent rates, quick, beyond my expectations... I can't recommend enough and Simon as an expat and foreigner for UK mortgages. I have already used their services twice !Back in 2021 to buy a residential property for my family during troubling time when he secured me a deal that I couldn't hope for due to my circumstances and in a speedy time even compare to UK residents and British nationals ! The whole process was extremely clear from A to Z, Simon explained all the details along the way and answered easily all my questions. I felt very good he knows his thing with expats situations and all the good "tricks". He handled everything and transform a daunting process into a dream path for my family and myself.2024, time for a switch rate. UK government and banks have made life even more difficult for expats and foreigners. After trying to do it myself wasting my time with searches and multiples calls, I finally went again with Simon. In less than a week, after a 15min call, the switch rate was done ! He secured me a top 5 new rates among the UK resident mortgages. Incredible.I will certainly call him again for future operations with properties.
05:41 18 May 24
Simon has been absolutely fantastic, he’s been very helpful and provided a step by step guidance which at times was a blessing as starting to purchase a property overseas is going into the unknown.He was very very patient, he was always available, by phone text or mail.I cannot speak more highly of him, thank you so much.
chris B.
12:15 17 May 24
MyMortgageDeal and Simon helped me find and secure a mortgage after been turned down by numerous banks in the UK due to my situation of working overseas in the middle east.MyMortgageDeal and Simon has been excellent and professional from the first email to securing the mortgage and property. They provided me with an excellent step by step process of what I needed to do, gave me timely feedback in lay terms which I could understand and was very quick in replying to emails and phone calls.I would highly recommend MyMortgageDeal and Simon for any people in complex situations working abroad looking to get a property in the UK.
Paul F.
15:19 03 Apr 24
Excellent Service and Very Professional! As a foreign buyer, the process of obtaining a mortgage in the UK can be very daunting and difficult nowadays! But Simon has been able to find me a good deal and has been very supportive throughout the whole process. He has guided me carefully at every step and today I am the proud owner of an amazing property! Highly recommended!
Isla H.
11:32 14 Mar 23
Absolutely brilliant service from both Alison and Simon. Have recommended their overseas mortgage service to my friends and I look forward to utilising their services in the future. Highly recommended.
Shane B.
18:34 13 Feb 23
Simon found the best ex-PAT mortgage deal on the market for us and guided us carefully through the application process. First class service. Highly recommended!
Andrew A.
15:29 18 Oct 22
An excellent service which worked for me!After months of trying without success, Simon was able to secure the remortgage.
Steve G.
18:55 30 Aug 22
Can’t thank Simon enough for helping my family get the expat mortgage. He was extremely efficient and approachable and went to every effort to support us whilst residing in the UAE. Highly recommend Simon’s excellent service.A Khan
Afsha A.
20:31 29 Apr 22
Simon has done an amazing job in securing both BTL and residential mortgages for me. As an expat, this can be challenging. Simon displayed knowledge and experience in navigating the process.
Tariq D.
19:59 26 Apr 22
What an amazing, fantastic support ! Simon and his team are always chasing for your benefit. Due to the Brexit, expat mortgage case became increasingly challenging. Simon succeed very well in due time. As an expatriate, he managed to explain complex things with very easy word. It was a full success for me. I really want to declare to all expatriate: “ Do not hesitate to consult a mymortgageDeal.” . For Simon and Paul, THANK YOU VERY MUCH!!!
Eric P.
17:07 25 Nov 21
I would highly recommend Simon at My Mortgage Deal! A very professional service, fast response time, explained everything clearly, helped me get all the correct paperwork I needed and speeded up the process by constantly chasing status of my mortgage application. Thanks for all your help Simon!
Jo K.
10:43 02 Nov 21
Being a bit old and living in Portugal, we were always going to have difficulty trying to get a buy to let mortgage on a UK property.Simon found us a lender and helped us with the formalities. Any small hiccups were dealt with very promptly, including liaison with our solicitor, we have now completed our purchase.Thank you Simon,Andrew and Stephanie.
Andrew J.
11:05 24 Aug 21
We really appreciated the support Simon gave us to obtain a mortgage for a property in the UK when we had been told by all of the main high street lenders they could not do this for us. We are living and working overseas and if you are an expat then we can thoroughly recommend Simon to help you.
Ian F.
13:48 03 Aug 21
My Mortgage Deals and Simon Murphy provided me with an excellent quality of service. I got a mortgage product that was aligned with what I wanted. Simon is very experienced and competent. He gave me guidance and advice throughout the process. He is professional and ethical. From now on he will be my mortgage broker and my number one recommendation.
Ioannis S.
04:33 25 May 21
Barry N.
09:42 13 Apr 21
From the very first moment until completion day, Simon provided professional, attentive and responsive service.He was very helpful and most dedicated to finding the best solution to any problem during the process.I strongly recommend his excellent service.Thank you Simon!
Anat Guy R.
10:08 03 Apr 21
A very huge Thank you to Simon for help me to got the best mortgage offer from lender for my residential property. It’s quite difficult to applying mortgage solely by expat income in my case but finally done. His professional knowledge make the process seamlessly and his responsive more than a broker even help to explain the mortgage application situation to my property agent. I would be recommend mortgagedeal Simon to all of you.
Wai Chung W.
12:11 10 Feb 21
Brilliant service from Simon, managing mortgage applications from beginning to completion. Always kept updated on status, and lenders' queries were actioned promptly.I would recommend Simon's services with no hesitation.
Salah H.
11:47 10 Feb 21
Simon has been exceptional in helping us through the whole mortgage process for our cottage in Wales. From choosing the right lender to navigating through all the challenges homebuyers are facing in these difficult times, his support and advice has been prompt, unwavering and extremely useful. I am positive this house purchase would not have been positive without his help. Recommended highly! Samreen Uppal
Ajay J.
13:06 17 Dec 20
Absolutely superb service - Simon arranged a very competitive product for us and has been highly professional and proactive throughout the process. Highly recommended if you are resident overseas and want to arrange finance for a UK purchase 👍🏻👍🏻👍🏻👍🏻👍🏻
Andrew M.
03:46 16 Dec 20
Simon was great to deal with, responsive and helpful throughout the process and secured an expat remortgage at a much better rate, all from overseas. Thanks.
Iain D.
23:19 15 Dec 20
Simon delivered us an expat buy-to-let in the NE UK at a fixed low rate for 2.5 yrs, then we can change it to move home. Very straight forward, highly professional and, tbh, well worth the fee.If you want it to happen, just message him, as we did. He recommeded a law firm that we used too - did the job and were very competitive. Thanks.
jon H.
23:53 26 Nov 20
I work overseas and have been trying for close to five years to get a mortgage to move my family who are back in the UK into without success, due to my overseas income until I chanced on Simon online. In spite of the challenges with Covid and my busy schedule Simon was very helpful and held my hands throughout the mortgage process to completion. I got a super A plus UK prime mortgage. This is the best financial service support I have received in my entire life. It was an amazing experience.
Joseph I.
08:32 18 Nov 20
My experience with Simon at mortgagedeal was excellent. My husband and I are expats living in Nigeria. We wanted to buy a residential property in the Uk. No mortgage broker wanted to deal with a Nigerian resident earning an income in naira even though we had other property in UK with an excellent credit and had lived in the UK most of our lives before moving. We found a property we liked and had gone far when the lender told us they could not accept an income denominated in naira. We had nearly given up but I thought I would give it a last try. I found Simon on the internet and was a bit sceptical because of our experience. Simon assured us that he could get us a mortgage or he would give us back our money. We got a rate of 1.64% fixed for 5 years. We have our mortgage offer and are will exchange later this week. The whole thing has been nothing short of a miracle
Folasayo O.
17:35 17 Nov 20
The service Simon provided in securing our expat mortgage was second to none. He kept us informed every single step of the way and provided a quick and clear response to all of our queries. From mortgage application to moving in took just 8 weeks, which is pretty impressive during a global pandemic. From beginning until end Simon and his team took care of everything and I highly recommend his services.
Tam B.
17:15 17 Nov 20
From initial contact to completion day, buying a property with Simon's help was so easy. He was very knowledgeable, up front and realistic, and extremely helpful, answering questions promptly. He always made us feel like we were in capable hands and could trust him to act in our best interest. Even the challenges Covid-19 presented didn't phase him.
Angela C.
21:17 23 Sep 20
Simon was very efficient and personal, he made the whole process seamless and stress free! Definitely recommend any expats use Simon in the future.
vaughan P.
16:52 21 Jul 20
5 stars is not enough to rate the way in which Simon listens to your requirements and truly engages to find the best solution.My case was not without challenges: a UK expat with a divorce settlement to pay ; a London flat with a lease <85 years and an unhelpful co-freeholder.With patience and perseverance, Simon found a lender and a mortgage deal with very good terms. Always realistic and pragmatic, he made sure that my application successfully completed – even during the restrictions imposed by COVID 19 pandemic!
Nicolas R.
11:59 11 May 20
Simon dealt with my mortgage application in an efficient and friendly manner. I did not believe it was possible to get a residential mortgage in the UK whilst living abroad, Simon found the necessary options and took the stress of applying away. He kept me in touch with each stage of the process, and today I received the good news that my mortgage has been approved. I would certainly go through Simon again, if I needed a new mortgage.
Karen S.
16:06 21 Feb 20
Very helpful, proactive and attentive. Recommend
Tina E.
14:15 19 Feb 20
Simon took time to explain and guide me through the process of remortgaging. The whole thing was quick,efficient and stress free.
Alison H.
13:58 11 Feb 20
Fantastic hassle free mortgage provider , I wouldn’t recommend anyone else , first class from the first contact to the completion of our mortgage .
Kevin P.
21:08 08 Feb 20
Simon provided a first class service and saved me a significant amount on my mortgage deal.I had a change in personal circumstances while the mortgage application was being processed. Simon dealt with this patiently and promptly.Communication throughout was excellent, I always knew what was happening.Can’t recommend him highly enough
Mark K.
11:09 08 Feb 20
richard T.
19:37 07 Feb 20
Chris K.
16:51 07 Feb 20
Can not say enough good things about working with Simon, was a real pleasure will definitely use him again.
Wesley O.
16:12 07 Feb 20
I can personally vouch for Simon, having worked with him we found him to be incredibly resourceful, he really cares about providing you with the best services available, he's extremely knowledgeable, makes everything seem easy, explains and communicates very well... generally great person to work with...
Catherine K.
15:19 07 Feb 20
Excellent service, secured me an ex pat BTL mortgage very quickly, explained process from start to finish and was always available. Will use again and highly recommend.
Robert V.
15:14 07 Feb 20