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How to use your home to purchase another property – fiscal residents only -

For Spanish fiscal residents, paying their income taxes in Spain, it may now be possible to finance 100% of the purchase of a second Spanish property against both their current Spanish property and the new property – known as a Doble Garantía Hipotecaria.


Interest rates for foreigners in Spain

For a standard non-resident profile, typical mortgage interest rates are 1.75% fixed for 25 years and Euribor + 1.5% for a variable rate mortgage.
The Euribor has recently risen though remains negative at -0.285 at the time of writing.

This currently results in a variable interest rate of 1.22% which would typically be revised every 12 months on the policy anniversary.
Bank opening fees range from 0 to 1% and whilst most banks insist the client takes out ancillary products such as home and life insurance, this isn’t always the case.

Interest rates are lower for fiscal residents and high value mortgages, we’re achieving fixed rates from 0.95% and variable rates from Euribor + 1% (resultant rate 0.72%). Additional products aren’t usually required.

Of course, depending on the profile of the client and the banks conditions, actual rates can be lower or higher. Rates have been fairly constant since 2019 but are expected to increase as Euribor and inflation increase. Our advice: buy now and secure an exceptionally low rate while you can!

Maximum LTV

Up to 70 % for non-residents
Up to 80 % for residents

Note: Mortgage rates can vary the above information is given as a guide only.


Useful Links/Downloads

Documents required for mortgages in Spain

Buying costs and taxes with a mortgage

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*Information subject to change

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