Wiki: Spain & Portugal mortgages
In-depth explanations of non-resident financing, taxes and process. Short definitions live in the Glossary — this is where we go deeper, backed by real, anonymised case studies.
What does the perini.es wiki cover on Spain and Portugal property financing?
The wiki goes deeper than the glossary's short definitions, with dedicated pages on official and registry topics such as the NIE, Nota Simple and Escritura, on taxes like Modelo 210, Plusvalía, ITP and IBI, on financing terms such as Hipoteca no residente, LTV and Hipoteca mixta, and on the full purchase process from opening a bank account through to land registry entry — including Portugal, where the CPCV plays the same role as the Contrato de arras. Every page first answers a concrete question in plain language before going into detail, and links to related glossary terms and to the mortgage calculator for running your own numbers. It is written for non-residents, foreign taxpayers and investors preparing a purchase in Spain or Portugal without already knowing the Spanish terminology.
Taxes
IBI — Spanish Property Tax
IBI (Impuesto sobre Bienes Inmuebles) is Spain's local property tax — the owner on record on 1 January pays it, no matter when in the year ownership changes…
Non-Resident Tax Spain (Modelo 210 / IRNR)
Modelo 210 is the tax return for Spain's non-resident income tax (IRNR) — mandatory for every foreign property owner, even when the property stands vacant…
Mortgage
Non-Resident Mortgage (Hipoteca no residente)
A Hipoteca no residente is a Spanish mortgage for buyers without Spanish tax residency — banks assess foreign income, employment and country of origin more…
Spain Mortgage LTV for Non-Residents
The maximum loan-to-value for non-residents in Spain is usually well below the level offered to residents — banks apply it to the lower of the purchase price…
Seguro de hogar (buildings insurance)
The seguro de hogar is the damage policy on the mortgaged property.
Euribor (Euríbor hipotecario)
The Euribor is the rate at which European banks lend to each other unsecured.
Costs
ITP Spain (Property Transfer Tax)
ITP is Spain's transfer tax on the purchase of resales — each autonomous region sets its own rate, so it can differ substantially depending on where the…
Buying Costs Spain (Gastos de compra)
Gastos de compra are the full set of purchase-related costs on top of the price — tax, notary, land registry, tasación and, where used, a lawyer — and are paid…
Plusvalia Tax Spain (Plusvalia municipal)
Plusvalía municipal is a local tax on the increase in value of the land, charged on sale or any other transfer of ownership — usually the seller pays it, but…
Non-Residents
NIE Number Spain (Número de Identificación)
The NIE is Spain's tax and identification number for foreigners — without it, virtually no financial or property transaction in Spain is possible, whether…
Financing in Portugal
Non-residents can also buy and finance property in Portugal — with structural parallels to Spain (lower loan-to-value, a dedicated tax number as a…
CPCV — Portugal Preliminary Contract
The CPCV is Portugal's binding preliminary property contract — unlike a non-committal reservation, it already legally obliges both parties to buy and sell…
Hipoteca Mixta (Mixed-Rate Mortgage)
The hipoteca mixta combines a fixed rate for the first years with an automatic switch to a variable rate afterwards — usually Euríbor plus a margin — a hybrid…
Process
Tasación (Valuation)
The tasación is an independent property valuation carried out by a licensed appraisal firm — Spanish banks require it before any mortgage approval, because…
Nota Simple
The nota simple is Spain's official land registry extract from the Registro de la Propiedad — it lists the owner, mortgages and any other charges on a…
Spanish Bank Account for Non-Residents
Buying and financing property in Spain generally requires a Spanish bank account — mortgage payments, the purchase price transfer, and running costs like IBI…
Contrato de arras (Deposit)
The contrato de arras is Spain's reservation and preliminary contract — it typically involves a deposit that is usually forfeited if the buyer withdraws, and…
Escritura Spain (Notarial Deed)
The Escritura pública de compraventa is Spain's notarial deed of sale — signing it in front of the notary is the moment ownership actually transfers, after…
Buying Property in Spain: the Process
Buying property in Spain follows a clear sequence — getting the NIE and a bank account, sorting out the property and financing, the preliminary contract…
Oferta vinculante (FEIN)
The FEIN is the European standardised information sheet for your loan.
Real cases (110)
Anonymised case studies complement the wiki articles with real financing cases — historically accurate, never altered after the fact. Full overview: /en/case-reports/.