Frequently Asked Questions

New Property Mortgages is a mortgage advisory service specialized in mortgages for non-residents in Spain, designed specifically for international clients who want to purchase property in the country.

We act as an intermediary between you and a range of Spanish banks, helping you access financing tailored to your financial profile—even if you live outside Spain. We understand which lenders work with foreign buyers and, more importantly, what their actual criteria and requirements are.

We analyze your situation in detail, compare mortgage options across different banks, and negotiate on your behalf to secure the most suitable financing for your specific case.

Our role is to guide you throughout the entire process—from the initial assessment to the final signing—so you can buy property in Spain in a clear, secure, and hassle-free way, even if you are not physically present in the country.

Arranging your mortgage through New Property Mortgages allows you to access more favorable conditions thanks to our expertise in Spanish mortgages for non-residents.

We work with multiple lenders and have in-depth knowledge of which banks accept foreign applicants. This enables us to present you with realistic and tailored options from the very beginning, helping you avoid unnecessary rejections and delays.

In addition, we analyze your financial profile in detail, compare different mortgage offers, and negotiate directly with banks on your behalf to improve key aspects such as interest rates, loan-to-value ratios, and overall requirements.

Our objective is to help you secure the best possible mortgage within your circumstances, while ensuring the process is smooth, transparent, and efficient—especially if you are purchasing from abroad.

Yes. At New Property Mortgages, the initial mortgage assessment is completely free and comes with no obligation.

We review your profile, answer your questions, and provide you with a clear understanding of the real options available to you as a non-resident looking to buy property in Spain.

You will only incur a cost if you decide to proceed with us and formally complete your mortgage through one of the offers we present. Before moving forward, we will clearly explain any associated fees, so you can make an informed decision with full transparency.

Our goal is to give you clarity and confidence from the very first step, without any pressure.

You can trust our team because we specialize in mortgages for non-residents in Spain and have extensive experience working with international clients.

We understand how Spanish banks assess foreign applicants and what criteria they apply in each case. This allows us to evaluate your situation accurately and present only realistic and viable options, saving you time and avoiding unnecessary rejections.

We operate as independent intermediaries between you and the banks, negotiating on your behalf to help you achieve the most favorable conditions possible based on your profile.

Our aim is to support you throughout the entire process with transparency, expertise, and a clear focus on making your property purchase in Spain as straightforward and secure as possible.

No. New Property Mortgages does not provide loans or lend money directly.

We act as an intermediary between you and financial institutions. Our role is to help you find, compare, and negotiate with banks that offer mortgages in Spain for non-residents.

The mortgage itself is always granted by a bank, which is responsible for approving the application and providing the funds. We support you throughout the process to simplify the experience and help you secure the best possible terms for your situation.

If your mortgage application has been rejected by a bank, we can help by reviewing your case in detail to understand the reasons behind the decision and assess alternative options.

We work with a range of financial institutions in Spain, which allows us to explore different possibilities and identify lenders that may be better suited to your profile as a non-resident buyer—even in cases where another bank has already declined the application.

Our goal is to analyze your situation thoroughly, identify areas for improvement, and find viable solutions that increase your chances of securing a mortgage, guiding you through the process in a clear and structured way.

Mortgage comparison websites provide general information about products from different lenders, but they do not analyze your individual situation or manage the process for you.

At New Property Mortgages, we offer a fully personalized service, specifically focused on non-residents buying property in Spain. We assess your financial profile, identify the most suitable lenders for your case, and present you with tailored, realistic options.

In addition, we act as intermediaries: we help you compare offers, negotiate with banks, manage your application, and follow the process through to completion.

While comparison tools simply show you information, we actively work with you to increase your chances of success and make the entire mortgage process more efficient and straightforward.

Yes. New Property Mortgages is registered as a Mortgage Credit Intermediary with the Bank of Spain, in accordance with Law 5/2019 (LCCI), which means we operate under regulatory supervision and comply with all legal requirements applicable to this activity.

We are also registered in the State Registry of Financial Intermediation Companies and hold professional liability insurance, which provides an additional layer of protection for our clients.

This ensures that our services are transparent, compliant, and aligned with current Spanish regulations.

Yes. When we work together, the service is provided on an exclusive basis during the mortgage process.

This allows us to manage your case in a structured and efficient way, coordinating all communication with lenders and avoiding duplications or inconsistencies that could negatively impact your application.

Exclusivity ensures that we can provide a consistent strategy, dedicate full attention to your case, and focus all efforts on securing the best possible mortgage for your profile as a non-resident buyer.

Before starting, we will clearly explain all conditions so you have a full understanding of the service.

A mortgage is a financial product through which a bank lends you money to purchase a property. This loan is repaid over an agreed period through regular monthly payments, which include both the principal and the applicable interest.

The key characteristic of a mortgage is that the property itself acts as collateral for the loan. This means that, in the event of non-payment, the bank has legal rights over the property under the terms established in the mortgage agreement.

However, you are the legal owner of the property from the moment of purchase. This means you can sell it, rent it out, or in some cases use it as collateral for other financing, as long as you comply with the conditions of your existing mortgage.

Yes, we assist you in managing the property valuation as part of the mortgage process in Spain.

We coordinate the process with officially approved valuation companies and guide you through each step to ensure that the appraisal is carried out correctly and accepted by the bank.

In addition, before the valuation takes place, we carry out preliminary checks on the property, including urban planning aspects, to ensure there are no issues that could negatively affect the valuation or the mortgage approval.

Our goal is to make this step as smooth as possible and help you avoid potential problems during this crucial stage of the process.

A "nota simple" is an official document issued by the Spanish Land Registry that provides key legal information about a property at a specific point in time.

It includes details such as the property description (type, size, and characteristics), location, ownership, and, most importantly, any charges or legal encumbrances, such as existing mortgages, debts, liens, or usage rights.

This document is essential before purchasing property in Spain, as it allows you to verify whether the property has any legal or financial issues that could affect the transaction or the mortgage approval.

A property valuation is an independent and objective assessment carried out by an approved valuation company to determine the market value of the property you intend to purchase.

This value is crucial for banks, as they use it as a reference to decide how much they are willing to lend and to assess the risk of the mortgage.

The valuation must be conducted by a certified company and comply with Spanish regulations (such as ECO/805/2003). In many cases, banks require the valuation to be carried out by one of their approved partners, although they may accept external valuations if they meet the required standards.

For this reason, the valuation is a key step in the mortgage process, as it directly impacts the amount of financing you can obtain.

All the information you provide is treated with strict confidentiality and is used solely for the purpose of managing your mortgage application.

We comply with all applicable data protection regulations, including the General Data Protection Regulation (GDPR) and Spanish data protection laws. We implement appropriate technical and organizational measures to ensure the security of your personal data.

Your information will not be shared with third parties without your consent, except where necessary for processing your mortgage with financial institutions, always within a secure and regulated framework.

Our priority is to ensure that your data is handled responsibly, securely, and with complete transparency at all times.

The TIN (Nominal Interest Rate) is the percentage of interest that the bank applies to the borrowed capital. It represents the cost of the loan without including additional fees or associated expenses.

The APR (Annual Percentage Rate, known as TAE in Spain) reflects the total annual cost of the mortgage. It includes the TIN, as well as fees, commissions, and other costs, and also takes into account the payment frequency.

For this reason, the APR provides a more accurate and realistic way to compare different mortgage offers in Spain.

As a general rule, banks in Spain offer financing between 60% and 70% of the purchase price or the appraised value of the property (whichever is lower) for non-resident clients. This means you will typically need to contribute between 30% and 40% of the property price as a deposit, in addition to covering the associated purchase costs.

The exact percentage depends on your financial profile, including your income level, job stability, existing debts, and country of residence.

We can assess your situation with no obligation and provide a clear indication of how much financing you could obtain, guiding you through the entire mortgage process in Spain.

Yes, in most cases, non-resident buyers in Spain are required to provide a minimum deposit of 30% of the property value.

In addition to the deposit, you should also take into account the extra costs associated with buying a property in Spain, such as taxes, notary fees, and land registry costs. These expenses typically represent around 10%–12% of the purchase price.

The required documentation may vary depending on your personal and financial situation, but generally includes:

• Valid ID or passport
• Proof of income (salary slips or business income)
• Tax returns
• Bank statements
• Details of existing debts or financial commitments

Each case is unique, and we will provide you with a tailored list of documents based on your profile to ensure a smooth mortgage application process in Spain.

The full mortgage process in Spain typically takes between 4 and 6 weeks, depending on the bank and the specifics of each case.

This includes the initial assessment, pre-approval, property valuation (appraisal), final approval, and completion at the notary.

Our goal is to streamline every stage to reduce waiting times. However, the speed of the process also depends on you: the sooner you complete the application form and submit all required documents, the faster we can move forward and finalize your mortgage.

Yes, all foreign buyers must obtain a NIE (Número de Identidad de Extranjero) in order to purchase property in Spain, even if they are non-residents.

The NIE is essential for signing the title deed, opening a Spanish bank account, and arranging a mortgage.

We work closely with trusted legal professionals who can assist you with the entire NIE application process, ensuring everything is handled efficiently and correctly.

Many banks in Spain provide mortgage products for non-residents, although the conditions are usually stricter than for residents.

Well-known banks that commonly work with foreign buyers include BBVA and Santander. In most cases, they finance up to 70% of the property value for non-resident clients.

We analyze each case individually to identify which bank and mortgage conditions best suit your financial profile and objectives.

Purchasing property in Spain involves several additional costs beyond the purchase price. These typically include:

• Property transfer tax (6%–10% depending on the region)
• Notary and land registry fees (approximately 1%–1.5%)
• Legal and administrative fees (gestoría) (0.5%–1%)
• Property valuation (approximately €400–€600)
• Mortgage-related costs (if applicable), such as arrangement fees, insurance, and bank charges

Practical example:
If you purchase a property for €200,000 in Andalusia, the approximate costs would be:

• Property transfer tax (ITP 7%): €14,000
• Notary and registry (1.5%): €3,000
• Administrative fees (1%): €2,000
• Valuation: €500

Total additional costs: approximately €19,500

This means that, in addition to the property price, you should budget around €19,000–€20,000 to cover all associated expenses.

We can help you calculate the exact costs based on your situation and assist you in planning your property purchase in Spain with full clarity and confidence.

Not necessarily, but it is different. Spanish banks apply specific criteria when assessing non-resident mortgage applications, which makes it essential to present your case correctly.

For this reason, working with a specialist mortgage advisor can significantly improve your chances of approval and help you navigate the process more effectively.

A rejection from one bank does not mean you cannot obtain a mortgage in Spain.

Each bank has its own criteria, risk policies, and approach to non-resident clients, so alternative options are often available.

We analyze your situation in detail to identify the reasons behind the rejection and explore other viable lenders that may be better suited to your profile.

Yes, it is entirely possible to buy property in Spain without traveling to the country.

To facilitate the process, we can connect you with a trusted lawyer who will assist you with all necessary legal procedures, including granting power of attorney and handling remote document signing.

No, it is not mandatory to travel to Spain to complete a property purchase.

While you always have the option to visit if you wish, the entire process can be handled remotely through a legal representative using power of attorney.

With the support of experienced professionals, you can securely complete your purchase from your home country.

The Euribor (Euro Interbank Offered Rate) is a benchmark interest rate that reflects the rate at which European banks lend money to each other within the eurozone.

It is widely used as a reference index to calculate interest rates for variable and mixed mortgages in Spain, and it plays a key role in determining the monthly mortgage payments.

The Euribor is updated regularly (typically on a daily basis), while mortgage rates linked to it are usually reviewed every 6 or 12 months, depending on the terms of the mortgage agreement. During each review, the current Euribor rate is applied along with the agreed margin (spread).

For this reason, changes in the Euribor directly affect whether your mortgage payments increase or decrease over time.

The Euribor is calculated based on the interest rates submitted daily by a panel of major European banks to the European Money Markets Institute (EMMI). These banks report the rates at which they are willing to lend funds to one another in the interbank market.

To ensure accuracy and avoid extreme values, the highest and lowest submitted rates are excluded, and an average is calculated using the remaining data.

The result is published each working day. From these daily figures, a monthly average is calculated, which is the rate typically used to review variable and mixed mortgages in Spain.

The Euribor directly impacts variable-rate mortgages and the variable portion of mixed mortgages at the time of each review, which usually takes place every 6 or 12 months.

At each review, the bank recalculates your interest rate by adding the current Euribor value to the agreed margin (spread). Depending on how the Euribor has changed, your monthly payment will also change:

• If the Euribor rises, your monthly payment increases
• If the Euribor falls, your monthly payment decreases
• If the Euribor remains stable, your payment stays roughly the same

For this reason, the Euribor is a key factor influencing how mortgage payments evolve over time.

When the Euribor is positive, it means its value is above 0%.

In variable-rate mortgages, the interest rate is calculated by adding the Euribor to the agreed margin set by the bank. When the Euribor is positive, this results in a higher overall interest rate, which leads to higher monthly payments compared to periods when the Euribor is lower or negative.

For example, if your mortgage has a margin of 0.99% and the Euribor is at 0.53%, the total interest rate applied (TIN) would be 1.52%.

A fixed-rate mortgage is a loan where the interest rate remains constant throughout the term of the mortgage, meaning your monthly payment stays the same over time.

This means it is not affected by changes in the Euribor or other benchmark rates, so from the very beginning, you know exactly how much you will pay each month.

This type of mortgage provides stability and predictability, making it a popular choice for those who want to avoid fluctuations in their monthly payments.

A fixed-rate mortgage is ideal for people seeking stability and predictability in their monthly payments, as the amount remains constant throughout the life of the loan.

It is usually suitable for those who:

• Prefer to avoid the uncertainty of Euribor fluctuations.
• Value a fixed payment that allows for better long-term financial planning.
• Prioritize security over the potential benefit of future interest rate drops.

In some cases, fixed-rate mortgages may include specific conditions or fees, so it is important to review each offer individually to see if it fits your profile.

A variable-rate mortgage is a loan where the interest rate—and therefore your monthly payment—can change over time.

The bank uses a reference index, usually the Euribor, plus a margin agreed upon in your contract. At each adjustment period (typically every 6 or 12 months), the interest rate is updated based on the current value of the index.

As a result, if the Euribor rises, your monthly payment increases; if it falls, your payment decreases. If the Euribor remains stable, your payment will barely change.

This type of mortgage carries more uncertainty in payments but can also benefit from periods of low interest rates.

A variable-rate mortgage is suitable for those looking for lower initial payments and who are willing to accept possible fluctuations in their monthly payments over time.

It is usually a good choice for people who:

• Prefer to pay lower interest at the beginning of the loan.
• Have stable income that allows them to handle potential increases if the Euribor rises.
• Accept payment uncertainty in exchange for the chance to benefit from potential interest rate drops.
• Take a medium- to long-term perspective and can adapt to market changes.

For this type of mortgage, it is important to monitor the Euribor, as it directly affects future monthly payments.

The main difference between a fixed-rate and a variable-rate mortgage is how the interest rate evolves—and therefore the stability of your monthly payment.

Feature	Fixed-Rate Mortgage	Variable-Rate Mortgage
Monthly payment	Remains constant for the life of the loan	Can change at each adjustment based on the Euribor
Interest rate	Fixed from the start	Euribor + margin
Payment stability	High stability and predictability	Potential to benefit from Euribor drops
Conditions & fees	Vary by lender	Vary by lender

In both cases, opening fees and early repayment charges depend on the bank and the specific contract and may vary depending on the mortgage product and applicable regulations.

Choosing between a fixed or variable mortgage depends on your profile, risk preferences, and ability to adapt to interest rate changes.

A hybrid mortgage combines features of fixed-rate and variable-rate mortgages.

For an initial period (which varies by lender), a fixed interest rate is applied, giving you stable payments during the first years. After this period, the mortgage switches to a variable rate, usually tied to the Euribor plus a margin, until the end of the loan.

This type of mortgage offers initial stability with long-term flexibility, making it a middle ground between the predictability of a fixed-rate mortgage and the variability of a variable-rate mortgage.

A hybrid mortgage may be suitable if you want to combine initial stability with long-term flexibility.

It is often a good choice in the following cases:

• You want stable payments during the first years of the loan, which can help if you are early in your financial life or prefer predictability at the start.
• The initial fixed rate is more competitive than a long-term fixed-rate mortgage.
• You plan to repay early or sell the property after a few years, taking advantage of the fixed period and reducing exposure to Euribor in the future.

After the fixed period ends, the mortgage becomes variable, so your payments will depend on the Euribor plus the agreed margin.

Therefore, it is important to consider your time horizon and risk tolerance before choosing this type of mortgage.