For anyone wishing to finance a property in Spain, the following loan-to-value ratios apply: in Spain up to 70 %, in Portugal up to 80 % of the lower of the purchase price and the valuation (Tasación). Additionally, it is possible to borrow up to 80 % against a German property and up to 50 % against a Spanish property, totalling up to 100 % of the purchase price, without having to sell the German property. On top of this come the stage payments during the building period. For each case, we approach at least 2 of 15–20 banks.
No fee unless a deal is done · Free initial consultation · Request a free checklist
For property financing in Spain, fixed rates for non-residents start at 2.4 %; in Portugal, they start at 3.65 %. With a discount, the rates range from 2.4 % to 3.0 % in Spain and 3.65 % to 3.90 % in Portugal; without a discount, they range from 3.4 % to 4.0 % and 4.40 % to 4.65 %. Our own bank survey, as at 06.10.2026; 12-month Euríbor 2.95 %.
| Fixed rate | With discount | Without discount |
|---|---|---|
| Spain | 2,4 %–3,0 % | 3,4 %–4,0 % |
| Portugal | 3,65 %–3,90 % | 4,40 %–4,65 % |
Our own bank survey, as at 06.10.2026 · 12-month Euríbor 2.95 % (monthly average for August 2026). ‘With discount’ means: a reduced rate in return for two to four linked products. All ranges, variable and mixed.
You will see the offer and the financing structure before you make your decision. A fee is only payable once the deal has been successfully arranged:
Your first consultation regarding your project in Spain or Portugal is free of charge.
You’ll find out what each bank has to offer and how your financing will be structured, without having to commit to anything beforehand.
1 % of the actual loan amount arranged, excluding IVA, and only upon successful arrangement. No upfront payment, no flat-rate processing fee.
As we do not accept commission from banks, we approach at least 2 of 15–20 banks for each case. Our loyalty lies with you, not with the bank that pays the most.
All three mortgage models are also available to non-residents in Spain and Portugal. Which option is right for you depends on your risk appetite, your investment horizon and the current market conditions.
The interest rate is linked to the Euríbor (12-month index) and is adjusted annually. If the Euríbor falls, your instalment will fall. Low early repayment charge (max. 0.25 % in the first 3 years, 0 % thereafter).
Current: 12-month Euríbor 2.95 % + margin 0.25 %–0.9 % · annual adjustment · low early repayment penalty.
The interest rate remains constant throughout the entire term — regardless of the Euríbor. Maximum planning certainty. Terms of up to 25 years.
Current: fixed interest rate throughout the term · constant instalments · no Euríbor risk · contracts available in German.
Current (Spain): 2.4 %–3.0 % with discount · 3.4 %–4.0 % without · Portugal: 3.65 %–3.90 % with discount · 4.40 %–4.65 % without. Example Spain · Example Portugal
Initially 3–10 years at a fixed rate, then variable (Euríbor + margin). Planning certainty in the initial phase, flexibility in the long term. The most popular model amongst German buyers in 2026.
Current: fixed start for 3–10 years · variable thereafter.
Perini Finance & Property, German-speaking: German property up to 80 %, Spanish property up to 50 % of the tasación, combined up to 100 % of the purchase in Spain; plus stage payments during construction. Financing is provided by one of the 31 Spanish or 14 Portuguese banks on the market — which one will underwrite your case is something we clarify in our discussion. §34i GewO; Portugal via an intermediary licensed there. The three structures at a glance
As with any purchase by a non-resident: up to 70 % of the lower of the purchase price and the tasación; the remainder (around 30 %) plus 10–13 % in purchase costs must be provided as equity.
Siegfried Perini, specialist in Spain and Portugal since 2019 — at least 2 of 15–20 banks approached per case.
Interest rate risk associated with a variable-rate mortgage (linked to the Euríbor), valuation risk if the tasación is below the purchase price, and this page is not a substitute for legal advice.
For non-residents, property financing in Spain is arranged through a Spanish bank: up to 70 % of the lower of the purchase price and the tasación, with the remainder (around 30 %) plus 10–13 % in purchase costs to be covered by equity. For each case, we approach at least 2 of 15–20 banks. You can calculate the monthly repayments and equity required for your specific situation using the property finance calculator for Spain.
Anyone looking to finance a property in Spain has more than one option: a Spanish mortgage from a Spanish bank is the usual route, but not the only one — capital from a German property can serve the same purpose. The standard market limits apply in normal circumstances — here is a direct comparison of the three ratios:
Spanish banks generally finance up to 70 % of the purchase price or the ‘tasación’ value (bank valuation) for non-residents — whichever is lower is always taken as the basis. The remaining 30 %, plus approximately 10–13 % in purchase costs (ITP, notary, land registry, solicitor, NIE), must be contributed as equity.
Portuguese banks provide financing of up to 80 % of the purchase price for non-residents — one of the most attractive loan-to-value ratios in Southern Europe. The bank bases its decision on the property valuation (Avaliação), which may differ from the purchase price. Additional purchase costs in Portugal: approx. 10–11 % (IMT, stamp duty, notary, land registry, NIF).
Anyone who owns a property in Germany can borrow up to 80 % against it on a second-ranking basis — even if it is already encumbered by a first mortgage. The capital raised in this way serves as equity for the purchase of a property in Spain or Portugal. A sensible option, without selling the German property.
* Loan-to-value ratios are indicative figures. The actual amount of financing depends on creditworthiness, income, property value and the banking partner. The ‘Tasación’ or ‘Avaliação’ value may be lower than the purchase price — the bank will always provide financing based on the lower of the two values. This does not constitute a binding commitment to provide financing.
Spanish banks provide financing to non-residents for up to 70 % of the lower of the purchase price and the tasación (around 30 % equity); they finance purchases, and for new-build properties they only pay out once the property has been accepted on completion.
Three cases fall outside this framework — and these are precisely the ones we handle: stage payments during construction, lending against a fully paid-off Spanish property up to 50 % of the tasación and lending against a German property up to 80 % of the lending value. Of the 30+ institutions on the market, one finances the stage payments and two lend against existing property (Perini market check, as at 08.10.2026).
Combined: German property up to 80 %, Spanish property up to 50 % of the tasación, and stage payments during construction — together totalling up to 100 % of the Spanish purchase price, all from a single source. In Germany under §34i GewO, and in Portugal via a broker authorised there. Very few German-speaking brokers offer this service.
The usual banks only pay out on completion — and after that you still have to wait for the Licencia de Primera Ocupación, which in practice usually takes three to six months, and in some cases up to two years. Until then, the buyer has to advance the money. Not with us: equity first, then the bank pays each instalment due in full, directly to the developer.
View the stage payments guideUp to 50 % of the tasación; the property must be free of encumbrances; proof must be provided that the capital will be used in Spain, and the funds must not leave the country. Selling in order to buy incurs tax, commission and the loss of any capital appreciation that might otherwise have been realised. This way, the property remains where it is — and the portfolio grows nonetheless.
View the loan-to-value guideUp to 80 % of the lending value of the unencumbered German property — either as equity or as the full purchase price. The Spanish property remains unencumbered; you act as a cash buyer there. §34i GewO for the German side; in Portugal, the transaction is conducted via a licensed intermediary there.
View the Germany guideAll figures are indicative, based on practical experience, and do not constitute a guarantee — subject to creditworthiness and assessed on a case-by-case basis. An overview of all three structures
The Spanish bank only pays once the property has been signed off — and that process, including the licence, usually takes three to six months, and in some municipalities up to two years. Buyers have to cover the costs for that long. There are other ways of doing it.
Hardly any banks pay the instalments during the construction period — but not none at all. We work with a structure whereby payments are made directly to the property developer as construction progresses. And if the assets are tied up in a German property, financing can also be arranged through a mortgage on that property: §34i GewO in Germany, or in Portugal via a licensed broker there.
An initial guide to help you plan your financing. Please contact us directly for a personalised quote.
Not every bank provides financing for income in foreign currencies — we specifically approach those that do. For a full assessment, please enter your income converted into euros.
We specialise in arranging loans of 300,000 € or more — we also arrange smaller loans and will give you an honest assessment of whether financing is worthwhile in your particular case.
Guide figure provided for information only. The interest rate is a calculated figure for this example; it is not a market rate nor a commitment — the actual interest rate achievable depends on creditworthiness, the property and the bank. Spain: max. 70 %, Portugal: max. 80 % loan-to-value ratio for non-residents. Purchase costs vary by region as shown on our purchase costs page; the remaining items are provided as a guide.
Everything the calculator on the page doesn’t show: equity requirements including purchase costs, all purchase costs listed individually, total interest and total costs — and, based on your income, how much you can afford under the 35 % rule. We work with 15–20 out of over 30 banks and will request quotes from at least 2 of them for your situation; we’ll discuss which ones are suitable during our conversation.
Sample calculations for typical German buyers in Spain and Portugal — to help guide your own plans. Assumptions: Loan-to-value ratios for non-residents are up to 70 % in Spain and up to 80 % in Portugal. Use the mortgage calculator to work out your own figures. Two real-life cases from our brokerage: paid in full and a two-year waiting period · the bank withdraws its approval.
| Position | Amount |
|---|---|
| Equity | 175.000 € (39 %) |
| Mortgage ES | 275.000 € (61 %) |
| ES purchase costs (~11 %) | ~49.500 € |
| Loan-to-value ratio | 61 % LTV (ES max. 70 %) |
| Example instalment (20 yrs) | ~1,445 € per month |
| Type of bank | Major Spanish bank · Non-resident programme |
Model calculation provided without guarantee.
| Position | Amount |
|---|---|
| Equity | 180.000 € (30 %) |
| Mortgage PT | 420.000 € (70 %) |
| Purchase costs for PT (~10 %) | ~60.000 € |
| Loan-to-value ratio | 70 % LTV (PT max. 80 %) |
| Example instalment (25 yrs) | ~2,135 € per month |
| Type of bank | Portuguese bank · NIF registration |
Model calculation provided without guarantee.
| Position | Amount |
|---|---|
| Equity | 320.000 € (40 %) |
| Mortgage ES | 480.000 € (60 %) |
| ES purchase costs (~12 %) | ~96.000 € |
| Loan-to-value ratio | 60 % LTV (conservative for a finca) |
| Example instalment (25 yrs) | ~2,130 € per month |
| Type of bank | International private bank · Tasación critical |
Terms and conditions vary depending on credit rating, property and bank. This does not constitute tax or legal advice.
All three cases come to us. All three can be resolved — but not equally well at every stage.
The best time. We check the developer’s payment plan before it becomes binding and let you know in advance whether the structure is sound. Anyone who signs first and only sorts out the financing afterwards has already been forced to accept the payment plan.
Financing stage payments during constructionA verbal approval, the surveyor comes out, and then we’re told: we have to wait for completion. The reservation is in place, the money is tied up, the purchase is in jeopardy. This case comes to us regularly — and it can be resolved as long as the property has not yet been signed off.
Have your case reviewedThe capital is tied up, nothing has been entered in the land register yet, and there is no mortgage. Even then, it’s not over: you can subsequently secure financing for up to 70 % of the tasación — even if you started out with significantly more equity. But the window of opportunity is narrow.
Recover capitalThe time window. Ideally, this should be before the building is signed off. If the building has already been signed off, our experience shows that there is only a short window of a few months left for financing and registration. The bank determines exactly when this window closes — it is not a statutory deadline, and we deal with it on a case-by-case basis.
Anyone who misses it is no longer a buyer taking out financing, but the owner of a paid-off property. Then only lending against existing property remains: usually up to 50 % of the tasación instead of up to 70 %, with the funds tied to a specific purpose. The difference is twenty percentage points on a sum running into millions.
The lower of the purchase price and the tasación is used to determine the amount to be financed. You are short of the difference in cash — and it only becomes apparent once the private contract has long since been signed.
And the situation we see most often, yet are least able to resolve: people who haven’t even found us. They didn’t buy the new-build — not because they couldn’t afford it, but because nobody arranged the financing for them.
And two scenarios that are just as likely to tip the balance:
Whether your own home, a property you already own — or your parents’ finca, with your parents helping out with their share: in Spain, up to 50 % of the tasación can be released, in Germany up to 80 % of the lending value. Combined, this covers up to 100 % of the Spanish purchase.
Borrowing against existing property in SpainAs a rule, the loan must be repaid by the age of 75. Where there are two borrowers, the calculation is based on the younger one — both are entered in the land register, with a minimum share of 10 %. For borrowers aged 62 and 52, this gives a 23-year term instead of 13.
How the age limit really worksFurther real-life scenarios: A mortgage at 60 or 65 · Mortgages for the self-employed · Buying with cash or taking out a mortgage? · Inheriting a property in Spain: A paid-off property as equity · Experiences during the construction phase · Financing the purchase and renovation together
As intermediaries, we coordinate the entire process — personally, transparently and in German.
We’ll help you work out the purchase price, the amount of equity required and which model — variable, fixed or a combination — is right for you.
We compare Spanish, Portuguese and German terms and conditions and present you with the best offers.
We will guide you through the application process and coordinate all the necessary documents in German.
Once the bank has given its approval, we will support you throughout the rest of the process right up to the appointment with the notary (Escritura).
Two concise PDF checklists for your mortgage in Spain or Portugal: all the necessary documents, key details and current terms and conditions — drawn directly from real-world experience. Choose Spain, Portugal or both countries.
Ready to get started? Download the self-disclosure form (DE/EN, PDF) straight away.
Open PDF directly — without the form: Checklist for buying property in Spain — documents required for a mortgage (Dutch · French) (PDF, 4 pages) · Mortgage in Portugal — checklist of documents for non-residents (Dutch · French) (PDF, 4 pages). The English versions can be found on the English checklist page.
Mortgages for non-residents in all major regions of Spain and Portugal — up to 70 % loan-to-value in Spain, up to 80 % in Portugal.
Most popular location for Germans in Spain. Palma, Port Andratx, Santa Ponsa, Son Vida, Alcúdia. ITP 8 %; please note the ETV licence.
30–40 % cheaper than Madrid, with solid gross rental yields. The third-largest market for foreign buyers in Spain.
No. 1 for overseas buyers in Spain. North (Dénia, Jávea, Calpe, Altea) and South (Torrevieja, Orihuela Costa). ITP 9 %, Alicante Airport.
Premium Andalusia. Golden Mile, Puerto Banús, Estepona. ITP 7 % — one of the lower rates on the mainland coast.
Tenerife, Gran Canaria, Lanzarote, Fuerteventura. ITP 6.5 % on second-hand properties, 7 % IGIC on new-builds. In demand all year round.
Premium West (Lagos, Vilamoura) and Growth East (Tavira, Olhão). 300 days of sunshine, up to 80 % loan-to-value ratio.
Ibiza, the Costa Brava, Tenerife, Gran Canaria, Porto, Madeira and more — an overview of all regions with property transfer tax (Grunderwerbsteuer) and their specific features.
Detailed pages on tax and contractual matters — from tax registration numbers and purchase costs to choosing a bank: buying property as a non-resident is subject to its own set of rules.
NHR is a thing of the past. Since 2024, IFICI has only applied to a limited extent — here’s what that means for German buyers.
Deposit of 10–30 %; double refund if the seller withdraws; developer clauses; NIF obligation.
Tax allowances for 2026: Mallorca 3 million €; Andalusia effectively 0. A mortgage directly reduces the tax burden.
5 reasons for taking out a mortgage even if you already have capital — tax, liquidity, leverage.
How much does a property purchase really cost? ITP Mallorca 8 %, Andalusia 7 %, Canary Islands 6.5 %. Full breakdown of costs for 2026.
What documents do I need? The 35 % rule, equity capital, self-employed individuals — a comprehensive checklist for non-residents.
Step-by-step guide: Consular office, appointment, documents, power of attorney — you cannot complete a property purchase in Spain without NIE.
Non-resident mortgage, purchase costs, NIE/NIF, wealth tax Spain, CPCV and more — a comprehensive overview of practical knowledge.
At least 2 of 15–20 institutions per case — not just the offer from your house bank (Hausbank).
Stage payments during construction, lending against paid-off properties, German property as a source of capital — we know which bank will underwrite which structure.
30+ banks on the market in Spain and Portugal, 15–20 of them partners, plus German partners — all three financing models (variable, fixed, mixed) are available.
Attractive loan-to-value ratios for non-residents. In addition, a subordinate mortgage in Germany of up to 80 % may be used as a source of equity.
In many cases, your property abroad is sufficient as security — a debt-free home in Germany is therefore not necessary.
Consultancy, communication, documentation — we bridge the language and system barriers. Plus EN, FR, ES, RU. Dutch-language overview: Nederlands.
Verified licence under §34i GewO. Portugal via an intermediary authorised there. Regulated, reputable brokerage.
7 years of experience working with German buyers in Spain and Portugal. Over 1,000 vetted properties, around 300 financing arrangements for non-residents — not a newcomer to the market, but a company with a wealth of experience.
The public directory lists 31 Spanish and 14 Portuguese institutions — depending on the case, we will approach at least 2 suitable institutions directly. As independent brokers, we compare and negotiate on your behalf; different institutions specialise in different areas depending on your profile (credit rating, equity, property type, region).
Banco Sabadell and the specialist bank UCI are the strongest options for non-residents. In addition, Santander and BBVA offer established programmes for non-residents and have German-speaking international departments. CaixaBank has a strong presence in Catalonia.
Local savings banks with a regional focus. More conservative lending criteria, but often more favourable fixed rates for established borrowers.
Non-resident specialists with a loan-to-value ratio of up to 80 %. CGD is the largest state-owned bank, whilst BCP has a strong premium segment.
For buyers with high net worth. Often combined with wealth management. From a purchase price of around 500,000 €.
Banks offering specialised products for non-residents, often with international departments that provide services in English and German, and shorter processing times.
German banks for a second mortgage on existing German properties — as a source of equity for the ES/PT purchase.
The leading banks in both markets that we compare to find the right financing for you. Which bank is best suited to your profile depends on your credit rating, the property and the region — not on the brand.
Banco Sabadell, Santander, BBVA, CaixaBank, Bankinter, Unicaja, Kutxabank, Abanca, Ibercaja, Grupo Cajamar, Banca March.
Cajasur, Laboral Kutxa, Grupo Caja Rural, Caja de Ingenieros · ING España, Openbank, EVO Banco, MyInvestor, Pibank, Triodos Bank · Deutsche Bank España, UCI, Targobank, Banco Mediolanum, Andbank España.
Caixa Geral de Depósitos, Millennium BCP, Novobanco, Santander Totta, Banco BPI, Bankinter Portugal, Crédito Agrícola, Banco Montepio, Abanca Portugal, Banco CTT · UCI Portugal, Banco BiG, Banco Invest.
Particularly active in serving non-residents: in Spain, Banco Sabadell, UCI, Bankinter, ING España and Deutsche Bank España; in Portugal, Santander Totta and Bankinter. As at 10.10.2026.
“The branch fails” is easy to say. That is why we keep a record of which bank actually does which structure — for every enquiry that goes through our office.
Just one institution pays the developer’s instalments as construction progresses. All the others only pay once the building has been accepted. A ‘no’ almost always says something about the bank in question — not about your particular case.
At least two banks lend against an unencumbered property for non-residents — usually up to 50 % of the tasación, with proof of use in Spain. At the time of purchase, up to 70 % would have been possible.
Every year, this many people come to us after their purchase has already fallen through — not because of their creditworthiness, but because nobody found them a bank. And the number is rising. And those are only the ones who still found us.
As independent brokers, we work on a success-based fee structure — you only pay if we secure financing for you that you actually accept. The initial consultation, comparison of banks and coordination of your application are free of charge as long as no agreement is reached.
Not every purchase should be financed — and then we say so. Sometimes the best advice is to renegotiate the developer’s payment plan, choose a different property or wait for the tasación first. We review the documents and tell you directly whether financing is possible or not. This no is part of our advice — we depend on trust built over years, not on quick deals.
Verified reviews from ProvenExpert — statically embedded, without trackers.
★★★★★“Even in difficult situations, Siegfried Perini keeps a cool head! Highly recommended!”
★★★★★“Even in tricky situations, they’re here to help. If you have any questions, you get a prompt reply. They suggest and explain alternatives. The terms are certainly no worse than elsewhere — but the service is significantly better.”
★★★★★“Excellent collaboration! Very professional and open. Documents are reviewed quickly, and Mr Perini tells you straight away whether financing is possible or not.”
The estate agent pockets between 0.7 and 1.1 % of the loan amount for referring the client to ‘his’ bank — this is factored into the interest rate, not disclosed in the mandatory information sheet. In one case in Portugal, this amounted to an overcharge of 71,770 €.
It’s not the interest rate, nor the 35 % rule: the loan-to-value ratio (70 % instead of up to 100 %), purchase costs and the age limit are the factors that determine your borrowing limit in Spain.
12-month Euribor at around 2.76 % — the spring rise has not continued. What this means for variable-rate and fixed-rate mortgages in Spain.
NIE, Hipoteca no residente, ITP and more — every term in our glossary with its own detailed article.
Tax advisers, solicitors, asset managers and estate agents are regularly faced with the same question: Will anyone actually finance this — and am I required to obtain authorisation if I make a referral? We answer both questions on a dedicated page, setting out the types of cases we handle, the scale at which it becomes worthwhile, and the distinction between providing a tip and acting as an intermediary.
Anything we don’t handle ourselves is taken care of by our partner Olga on one of our sister sites. Everything from a single source, with no commission chains.
Investment properties eligible for heritage-related depreciation (Denkmal-AfA), new-build properties under the ‘QNG’ scheme and special depreciation under Section 7b in German cities. Managing director with industry experience since 1992.
aupfinanzservice.euInvestment in Germany →Independent mortgage financing for investors, expats and non-residents (Steuerausländer). KfW in conjunction with all state development banks. Advice available in German and Russian.
perini-financeandproperty.comFinancing in Germany →Siegfried Perini · Specialist in Spain and Portugal · since 2019. Free of charge, with no obligation, in German.
Perini Finance & Property (Spain & Portugal) is the international business of its owner, Olga Nikushkina (§34i GewO). Siegfried Perini has been the local brand representative since 2019 and is your personal point of contact.
Response usually within 24 hours · Video call, telephone or in person in Gandia · No tax or legal advice
Olga Nikushkina · D-W-132-ZUCB-95 · intermediary register, IHK Mittlerer Niederrhein. Siegfried Perini works under this §34i licence (§11a GewO).
Nordwall 39, 47798 Krefeld. Public register: vermittlerregister.info.
Brokerage under the freedom of establishment within the EU; in Portugal through an intermediary authorised there.
Königinstraße 28, 80802 München. Geographical scope: European Economic Area (EEA).
The fee for arranging a mortgage in Spain or Portugal is paid by the client, not the bank, and only if the deal goes through. This is where the real difference lies: anyone who relies on bank commissions can only offer banks that pay a commission.
We also present the prepared case even where there are no such options — right through to online banks with which no other broker works because it is not worth the effort for them. There are 30+ banks on the market in Spain and Portugal, plus German partners; for each case, we approach at least 2 of 15–20 institutions.
The licence pursuant to Section 34i(1) sentence 1 GewO and Section 34c GewO bears the intermediary register number D-W-132-ZUCB-95, registered since 26 September 2016 with the IHK Mittlerer Niederrhein (Chamber of Industry and Commerce), with professional indemnity cover provided by Allianz. All of this information can be verified free of charge at vermittlerregister.info. Advice is provided in five languages (DE/EN/FR/ES/RU). Details of how the fee is structured and calculated can be found on the ‘Fees’ page.
Author & regulatory separation. Content author: Siegfried Perini. Mortgage brokerage in Spain and Portugal is carried out under the §34i licence of Olga Nikushkina; in Portugal, through a broker authorised there. This page does not constitute legal or tax advice. Terms and conditions depend on credit rating, property and bank — no binding commitment to provide financing.
Fixed rates in Spain: 2.4 %–3.0 % with discount and 3.4 %–4.0 % without; in Portugal: 3.65 %–3.90 % with and 4.40 %–4.65 % without. Based on our own bank survey, as at 06.10.2026, 12-month Euríbor 2.95 % (monthly average for August 2026). ‘With discount’ (bonificado) means: a reduced rate in return for two to four linked products, whose ongoing costs must be offset against it. A representative example in accordance with Section 17 of the German Price Indication Ordinance (PAngV) can be found on this page. All ranges, variable and mixed
Spanish mortgage interest rates vary for reasons other than just creditworthiness. Key factors include the loan-to-value ratio, the property, place of residence, income and whether the interest rate offered is tied to additional banking products. We therefore compare not only the interest rate, but the overall financing terms.
Interest rate risk: With a variable-rate mortgage (Tipo Variable), the interest rate is linked to the Euríbor and is adjusted annually — if the Euríbor falls or rises, your monthly repayment will change. Valuation risk: Financing is always based on the lower of the purchase price and the ‘Tasación’ (bank valuation) — if the ‘Tasación’ is lower, the difference must be covered by additional equity. Legal risk: This page is not a substitute for legal or tax advice — it is advisable to have the purchase contract independently reviewed by a lawyer before it is notarised.
A mortgage in Spain is rarely more expensive for non-residents than a German mortgage — the difference lies less in the interest rate than in the loan-to-value ratio: Spanish banks finance non-residents up to 70 % of the lower of the purchase price and the tasación, whilst German banks generally require German secondary security for a property abroad. The current ranges can be found under Mortgage interest rates in Spain: what do fixed, variable and mixed currently cost?.
Credit check, property valuation (tasación), loan approval from the bank, notarisation. For non-residents, we handle the coordination between the German documentation and the Spanish bank.
Yes, that is the normal case in our brokerage — Spanish banks with their own non-resident departments provide financing for flats for buyers who are not resident in Spain.
Yes, the same criteria apply as for a flat — creditworthiness, equity ratio and property valuation are the deciding factors, not your place of residence.
Siegfried Perini also arranges loans for retirees — the loan simply needs to be repaid by the age of 75, and where there are two borrowers, it is the age of the younger one that counts, meaning the term can be significantly extended. At least 2 of 15–20 banks are approached for each case. How the age limit really works · Examples: a mortgage at 60 or 65.
Siegfried Perini assesses the same key criteria for the self-employed as for employees — creditworthiness, equity ratio and a debt service ratio of up to 35 % — and compares at least 2 of 15–20 institutions to find the right bank. A dedicated checklist can be found under Mortgage requirements, practical cases under Mortgages for the self-employed.
That’s exactly what we’re here for. As an independent broker, we approach at least 2 of 15–20 institutions for each case, rather than relying on the one offer from the house bank — a ‘no’ almost always says something about that bank’s lending policy (Kreditrichtlinie), not about you. We’ll review your documents and give you an honest assessment of whether a different financing structure is possible.
There are three options: novación (you stay with your bank, but the terms change), subrogación (another bank takes over the existing loan) and full replacement with a new loan — only with the latter can the loan amount be changed.
There is no such thing as automatic rollover: if, for example, the fixed-rate period of a mixed mortgage ends, the contract automatically switches to a variable-rate basis without any action on your part. Whether switching is worthwhile depends on weighing up the savings over the remaining term against the costs of switching (new tasación, notary, land registry fees and, where applicable, early repayment penalty). Refinancing a Spanish mortgage — when it pays off.
Our fee is 1 % of the actual loan amount arranged, excluding IVA, and it is only due upon successful arrangement. There is no upfront payment and no flat-rate processing fee. As we do not accept commission from banks, we approach at least 2 of 15–20 banks for each case.
Content by Siegfried Perini — local brand representative since 2019, active in real estate since 1992, entered in the German intermediary register (§ 11a GewO) as a person directly involved in brokerage and advice. Point of contact for German-speaking buyers in Spain and Portugal. Brokerage by Olga Nikushkina, mortgage credit intermediary under § 34i German Trade Regulation (GewO); in Portugal through a locally licensed intermediary.