Mortgage In Spain Non Resident?
- Víctormanuel Paz
What is a Non-Resident mortgage? – A non-resident Spanish mortgage refers to a lending agreement that is offered to individuals who are not a fiscal resident in Spain. As a non-resident in Spain, you will typically be offered a mortgage of 70% of the purchase price of the property.
- (Residents can expect to be able to get around 80%;
- ) The longest term you will be able to borrow for is between 20 to 25 years;
- Getting a mortgage as a non-resident in Spain can be difficult, that is why we recommend you seek professional help from HomeFinance Spain;
Fixed rate mortgages are by far the most popular option for non-residents. As fixed rate mortgage rates help lenders offset some of the risks associated with lending to those who are not fiscal residents in Spain. Non-residents can also expect to pay a 3% retention fee if they sell their Spanish property.