Documents, creditworthiness, proof of income — the full checklist for an international mortgage in Spain and Portugal. Plus: the typical process from first enquiry to the notary appointment.
NIE number, last 2–3 payslips, income tax assessment, 3–6 months of bank statements, employment contract and proof of equity. The self-employed add financial statements and business analyses.
In Spain at 70% LTV roughly 30% plus 11–13% purchase costs (about 41–43% of the price), in Portugal at 80% about 30–31%. A German property can serve as equity via a second-charge mortgage.
The mortgage payment plus all other monthly obligations may not exceed 35% of net income — the yardstick Spanish banks apply to non-residents.
As a non-resident you can obtain a mortgage in Spain or Portugal when three things come together: a foreign tax number (the NIE in Spain, the NIF in Portugal), complete proof of income for the last two to three months plus tax assessments, and enough equity. Spanish banks typically lend non-residents up to 70 % of the lower of purchase price and tasación (the bank's own valuation); you cover the rest and all purchase costs yourself. The decisive figure is the debt ratio: your total monthly commitment — the Spanish instalment plus any existing German obligations — should not exceed roughly 30 to 35 % of your net income. Employees prove this with payslips and their contract, the self-employed with two annual accounts. If one piece is missing, it is rarely „the bank“ that says no — it is usually the wrong bank. That is exactly where the choice among several lenders decides the outcome.
These are the documents required for a mortgage application as a non-resident — Spanish and Portuguese banks usually require the following, at most banks now with a certified translation:
The self-employed face higher hurdles in the credit assessment. Banks require:
Rule of thumb: otherwise the same rules apply as for employees — up to 70 % of the lower of purchase price and tasación, roughly 30 % equity. The calculation uses the actual net figure (taxable profit less tax and social security); the instalment may take 30 to 35 % of it. There is no blanket surcharge or discount for the self-employed — it is no different in Germany.
So that I can quickly compare your situation with the banks, please fill in our bilingual self-disclosure form (DE/EN, printable). It summarises personal data, tax status (incl. NIE/NIF), income, expenses and available equity — the basis of every bank enquiry.
Download the self-disclosure form (PDF)
Free and without obligation · no tax or legal advice · data processed only to prepare your enquiry (see privacy).
For non-residents, Spanish and Portuguese banks usually apply the 35 % rule: together with other obligations (consumer loans, rent commitments in your home country), the monthly mortgage payment may not exceed 35 % of available net income.
| Item | Amount |
|---|---|
| Monthly net income | €5,000 |
| Other monthly obligations | €500 (consumer loan) |
| 35 % limit | €1,750 |
| Maximum new mortgage payment | €1,250 |
| At 3.2 %, 20 yrs → financeable amount | ~€225,000 |
Simplified calculation. Actual assessment is made individually by the bank.
Model calculations without guarantee. Not binding offers. Terms vary depending on credit profile, property and bank. No tax or legal advice.
See how these five factors combine in your case in the mortgage readiness check — about a minute, including the lever that helps most.
Spanish and Portuguese banks routinely make buildings insurance a condition of the mortgage — the property is their security, and it has to be insured before completion. Life insurance tied to the loan amount is common as well, though less universally required than buildings cover. Both are typically among the bundled products that unlock the discounted (bonificado) interest rate — see our current mortgage interest rates page for what that discount is worth and what the bundled products cost in practice.
I compare banks in Spain, Portugal and Germany for your specific situation and find the right solution — without upfront costs.
The bank may require buildings insurance — but not tell you whose policy to take.
Monthly instalment, total cost and equity requirement for your exact figures.
The two routes into a mortgage on a property abroad — and which lender each one means.