Frequently asked questions · 2026
FAQ: Spain & Portugal mortgages
What foreign property buyers in Spain and Portugal want to know — loan-to-value, equity, NIE, NIF, CPCV, banks, taxes, IFICI.
Financing & loan-to-value
Financing & loan-to-value
How much equity do I need for a mortgage in Spain as a non-resident?
Typically 30–40 % equity on the purchase price plus 10–13 % transaction costs. Spanish banks usually finance non-residents up to 60–70 % of the purchase price or the tasación value (bank valuation) — whichever is lower applies. With particularly strong creditworthiness, exceptions are possible.
How much equity do I need in Portugal?
Typically 20–30 % equity plus 7–10 % transaction costs. Portuguese banks are often somewhat more generous with non-residents than Spanish ones — up to 80 % loan-to-value on the purchase price or the avaliação value (bank value), depending on the bank.
How long does a mortgage application take in Spain?
From first application to the notarial deed, expect around 6–10 weeks. Valuation review (tasación) 2–4 weeks, then the notarial deed 4–6 weeks. In Portugal it is somewhat faster, often 4–8 weeks.
Which rate model is better — variable, fixed or mixed?
That depends on your risk appetite and the market phase. Variable (Euríbor-linked) is cheap when rates fall, with low early-repayment penalties. Fixed offers planning security for up to 25 years. Mixed (5–15 years fixed, then variable) is popular among foreign buyers in 2026 — protection at the start, flexibility later.
Can I use my German property as a source of equity?
Yes. With a second-charge mortgage in Germany up to 80 %, you can re-mortgage a property that already carries a charge. The capital raised this way serves as equity for the purchase in Spain or Portugal — no sale of the German property required.
Taxes & contract law
Taxes & contract law
What is the difference between the NIE in Spain and the NIF in Portugal?
Spain NIE (Número de Identidad de Extranjero): mandatory for every foreign buyer, applied for at a Spanish consulate or on site. Takes 2–4 weeks. Portugal NIF (Número de Identificação Fiscal): the Portuguese tax number, easier to obtain through a tax adviser or the tax office — often by power of attorney within 1–2 weeks.
What transaction costs apply when buying property in Spain?
Around 10–13 % on top of the purchase price: ITP/AJD tax (6–10 % depending on the region — Mallorca 8 %, Andalusia 7 %, Canary Islands 0 % on resale purchases), notary (0.5–1 %), land registry (0.5 %), lawyer (1 %), valuation report (€300–600).
What transaction costs apply when buying property in Portugal?
Around 7–10 % on top of the purchase price: IMT transfer tax (tiered 1–8 %), IS stamp duty (0.8 %), notary/land registry (1–1.5 %), lawyer (1–1.5 %), NIF application.
What is IFICI / the NHR successor in Portugal?
Since 2024, IFICI (Incentivo Fiscal à Investigação Científica e Inovação) has replaced the old NHR programme. Tax benefits now apply only to qualified professions in research, higher education or strategic sectors — no longer to all newcomers. For foreign buyers without a research role, IFICI usually no longer yields any tax advantage.
What is the CPCV in Portugal?
Contrato-Promessa de Compra e Venda — the Portuguese preliminary contract. Usual practice: 10–30 % deposit on signing, the balance at the notary appointment (Escritura). Binding, with a duty to compensate — if the seller withdraws, they must repay double the deposit. Developers often add special clauses; have it checked by a lawyer beforehand.
Practice & banks
Practice & banks
Which languages are spoken during the consultation?
German, English, French, Dutch, Spanish and Russian. Notarial deeds in Spain and Portugal must be recorded in the national language — I arrange sworn translators.
Which banks finance non-residents in Spain?
BBVA, Santander, CaixaBank, Banco Sabadell, Bankinter and a number of international banks have non-resident programmes. Which one offers the best terms in your case is something I find out for you in a direct comparison.
Which banks finance non-residents in Portugal?
Caixa Geral de Depósitos, Millennium BCP, Santander, Novobanco and BPI offer non-resident mortgages. Loan-to-value ratios and rates vary widely depending on the property and creditworthiness.
What happens to a mortgage if I move to Spain/Portugal?
If you relocate for tax purposes to Spain or Portugal, exit-tax constellations, capital gains tax and rental taxation change. An existing mortgage usually remains in place, but speak with a tax adviser who works across borders.
What are the current interest rates for non-residents?
Typical market mortgage rates in June 2026 (Euríbor-based): Spain 2.6–3.6 %, Portugal 2.8–3.8 %. Guide values depending on creditworthiness, loan-to-value and bank. We clarify current terms in the first call.
What does the consultation cost?
The first call, bank comparison and application coordination are free. As an independent broker I work on a success basis — you pay a fee only if I obtain financing for you that you also accept. No risk without a deal.
Your question not listed?
Send me a quick message on WhatsApp or book a 30-minute call — free and without obligation.
Legal notice
Author & regulatory separation. Content author: Siegfried Perini. Mortgage brokerage in Spain and Portugal is carried out under the §34i permit of Olga Nikushkina (BAFA-notified). This information does not replace legal or tax advice.