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 and the appraised value, so more equity is needed than in a domestic financing.
How typical LTV levels differ
While Spanish residents often reach LTVs of 80% or more, the usual ceiling for non-residents sits noticeably lower — the exact threshold varies by bank, the buyer's country of origin and property type, so it can't be stated as a single figure; it only becomes clear through a concrete bank comparison.
Why the lower of price and tasación applies
Spanish banks never lend purely against the agreed purchase price — they use the lower of the purchase price and the independent valuation (see Tasación). If the tasación comes in below the agreed price, the financeable amount drops accordingly — an effect that hits harder for non-residents given the already tighter LTV ceiling.
What this means for equity planning
Buyers without Spanish residency should plan realistically for a noticeably larger equity share than typical in their home market — the gap between the financeable LTV portion and the actual purchase price plus the Gastos de compra has to be covered entirely from own funds, a factor that belongs in the budget from the very start, not as an afterthought.
Related glossary terms
Non-Resident Mortgage Spain (Hipoteca no residente)
A Hipoteca no residente is a Spanish property loan for buyers without tax residence in Spain. Banks assess foreign income, employment and country of origin and tend to apply stricter conditions than for residents.
Tasación (Valuation)
The Tasación is the property valuation prepared by an approved company. Spanish banks require it before a loan offer; the loan-to-value refers to the tasación value.
Buying Costs Spain (Gastos de compra)
The Gastos de compra are the total transaction costs in addition to the purchase price: taxes (ITP or IVA), notary, land registry, tasación and, where applicable, a lawyer. They are generally paid from equity.
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