Frequently asked questions · 2026

FAQ: Spain & Portugal mortgages

Q: How much equity do I need for a mortgage in Spain as a non-resident?

Typically around 30 % equity on the purchase price plus 10–13 % transaction costs . Spanish banks finance non-residents up to 70 % of the purchase price or the tasación value (bank valuation) — whichever is lower applies. With particularly strong creditworthiness, exceptions are possible.

Q: How much equity do I need in Portugal?

Typically around 20 % equity plus 10–11 % 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.

Q: How long does a mortgage application take in Spain?

The financing approval arrives 3 days to 4 weeks after the complete file is in (usually within 10 days; the bottleneck is the completeness of the documents, not the bank). Tasación 5–10 working days; between the FEIN at the notary and the deed the law requires at least 10 days. The overall time to the escritura therefore depends on the NIE, the tasación and the statutory period — not on the bank.

Q: 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.

Q: 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.

Q: 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.

Q: What transaction costs apply when buying property in Spain?

Around 10–13 % on top of the purchase price. The largest item is ITP transfer tax on resale: Canary Islands 6.5 %, Andalusia 7 %, Balearics from 8 %, Comunitat Valenciana 9 %, Catalonia banded 10–13 %. Plus notary (0.5–1 %), land registry (0.5 %), lawyer (1 %) and a valuation report (€300–600). On new builds IVA (10 %) plus AJD replaces ITP.

Q: What transaction costs apply when buying property in Portugal?

Around 10–11 % on top of the purchase price: IMT transfer tax (flat 7.5 % for non-residents since 25 May 2026), IS stamp duty (0.8 %), notary/land registry (1–1.5 %), lawyer (1–1.5 %), NIF application.

Q: 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 foreign property buyers in Spain and Portugal want to know — loan-to-value, equity, NIE, NIF, CPCV, banks, taxes, IFICI.

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In short

Mortgages in Spain and Portugal: four answers up front

How much will a bank lend to a non-resident?

Spain up to 70 % of the lower of purchase price and tasación — so around 30 % equity plus 10–13 % transaction costs; Portugal up to 80 % loan-to-value, around 20 % equity plus 10–11 % costs.

Can my German property serve as equity?

Yes — a second-charge mortgage in Germany up to 80 % raises the equity for the purchase in Spain or Portugal, even on a property that already carries a charge. No sale required.

How long does it take?

Approval 3 days to 4 weeks after the complete file (usually within 10 days); tasación 5–10 working days; at least 10 statutory days between the FEIN and the deed. The bottleneck is the file, not the bank.

Who answers this, and what does it cost?

Perini Finance & Property — German-speaking, since 2019, operating under the § 34i GewO licence held by Olga Nikushkina, Portugal through a locally licensed intermediary; we approach 15 to 20 banks. The first call, bank comparison and application coordination are free; on completion 1 % of the loan amount, no VAT — no bank commission.

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Financing & loan-to-value

How to get a mortgage in Spain — financing & loan-to-value

How much equity do I need for a mortgage in Spain as a non-resident?

Typically around 30 % equity on the purchase price plus 10–13 % transaction costs. Spanish banks finance non-residents up to 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 around 20 % equity plus 10–11 % 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?

The financing approval arrives 3 days to 4 weeks after the complete file is in (usually within 10 days; the bottleneck is the completeness of the documents, not the bank). Tasación 5–10 working days; between the FEIN at the notary and the deed the law requires at least 10 days. The overall time to the escritura therefore depends on the NIE, the tasación and the statutory period — not on the bank.

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

How does buying property in Spain work, and in what order?

The most common mistake is finding the property first and sorting out financing afterwards — the preliminary contract (contrato de arras) usually binds a 10% deposit before any bank has reviewed your case. The condición suspensiva ties the contract to bank approval. Full process and lead times, step by step: Buying property in Spain.

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. The largest item is ITP transfer tax on resale: Canary Islands 6.5 %, Andalusia 7 %, Balearics from 8 %, Comunitat Valenciana 9 %, Catalonia banded 10–13 %. Plus notary (0.5–1 %), land registry (0.5 %), lawyer (1 %) and a valuation report (€300–600). On new builds IVA (10 %) plus AJD replaces ITP.

What transaction costs apply when buying property in Portugal?

Around 10–11 % on top of the purchase price: IMT transfer tax (flat 7.5 % for non-residents since 25 May 2026), 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

How do I get a Spanish mortgage — 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?

The current rate bands with a representative example are on mortgage rates Spain and mortgage rates Portugal. Your individual rate depends on creditworthiness, loan-to-value, term and lender, and they move constantly — a figure published on a website is out of date by the time you read it. What can be said: loan-to-value is the strongest single price driver, and fixed, variable and mixed mortgages are priced on entirely different logic. We clarify the current terms for your situation 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.

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Author & regulatory separation. Content author: Siegfried Perini. Mortgage brokerage in Spain and Portugal is carried out under the §34i permit of Olga Nikushkina; in Portugal through a locally licensed intermediary. This information does not replace legal or tax advice.

Who pays the broker — and how can the independence be checked?

The fee comes from the client, not from the bank, and only if the mortgage completes. That single fact decides everything else: a broker paid by bank commission can only present lenders that pay one. We put the prepared file in front of lenders that pay nothing at all — including online banks no commission-based broker approaches, because the work does not pay for itself. Access covers more than 30 banks across Spain, Portugal and Germany; 15 to 20 of them are approached per case. The licence under § 34i(1) and § 34c of the German Trade Regulation Act carries adviser-register number D-W-132-ZUCB-95, entered on 26 September 2016 with IHK Mittlerer Niederrhein, with professional indemnity cover at Allianz. Every one of these entries can be checked free of charge at vermittlerregister.info. Advice is given in six languages (DE/EN/FR/NL/ES/RU). The fee page sets out how it is calculated.

The licence, the lender panel and the fee logic are gathered on non-resident mortgage in Spain.