Mortgage rates vary based on property type, value, and deposit amount
Mortgage rates vary based on property type, value, and deposit amount

BBVA vs Sabadell mortgage: which one to pick?

A guide to BBVA vs. Sabadell mortgages for foreigners, comparing offers, rates, pros, and cons. Continue reading for a comparative analysis of these two Spanish lenders.

Delia Mihuț
Written by: Delia Mihuț
Published at 2024-06-13
Last updated on 2024-07-24
Readtime 4 minutes

If you want to find a lender for your mortgage in Spain, you’ll have many options, even as a foreigner. But which is most convenient for your profile?

In this guide, we’ll compare two of the big names in the country: BBVA and Sabadell. Both lenders offer mortgage products for foreigners looking to maximize their property investments. 

Read on to find out who comes out on top, looking at everything from requirements and rates to pros and cons. 

We’ll also mention a digital platform to speed up your mortgage application from abroad. With Homevest, you can connect with brokers and top Spanish banks to find the best deal.

BBVA vs Sabadell mortgage for foreigners: an overview

BBVA is one of the top banks in Spain that offers mortgages to foreigners from various nationalities and residency countries who earn their income in euros. 

Their offering includes fixed and variable-rate mortgages extending to 30 years, with a flexible amount range of 2,000,000 EUR. However, it focuses only on residents coming from SEPA countries.

Sabadell stands out as one of the most competitive Spanish banks for non-residents. It is also more flexible regarding income currency. 

In addition to EUR, their eligibility for mortgage applications extends to over 10 other currencies, including GBPUSD, and CHF.

The bank offers highly flexible mortgage terms, with financing options ranging from 3 to 30 yearswithout imposing a strict property value requirement.


Both BBVA and Sabadell require applicants to have permanent employment with at least 6 months of tenure. 

You must provide a minimum deposit of 30%, have a debt-to-income ratio below 40%, and have no bad credit history

BBVA requires that you earn your income in euros, while Sabadell asks that your monthly net income range from 2000 to 2500 EUR or the equivalent in an accepted currency.

While Sabadell doesn’t have a strict threshold for property value (although they prefer properties with a value of at least 70,000 EUR), BBVA requires a minimum property value of 100,000 EUR for financing. 


For both BBVA and Sabadell mortgages, you need identification documentsproof of income, and property details

Expect the documents to be slightly different for the two banks. 

BBVA mortgage documents checklist 

  • Spanish NIE (Número de Identificación de Extranjero) number
  • Employment contract
  • Primary residence document (lease contract or mortgage deed and mortgage account statement)
  • Payslips for the last three months
  • Bank statements covering the last six months
  • Tax returns or income statements for the past two years
  • Credit report
  • Proof of deposit (savings or investment account)
  • Other property ownership documents (Land registry titles or mortgage deeds)
  • Proof of other income (dividends or lease contracts if you are renting out a property)

Sabadell mortgage documents checklist

  • Passport or National Identity Document
  • Foreigner Identity Number (NIE)
  • the last 2 salary slips
  • income statements from the past two years
  • a bank statement from the last 6 months
  • proof of deposit (from a savings or investment account)
  • proof of other income (like dividends or lease contracts if you're renting out property)

If you already own a property in Spain or elsewhere, you'll need to provide:

  • the last 2 mortgage statements
  • the lease contract
  • the land registry title (if there's no outstanding mortgage on the property)

Homevest allows you to upload and consolidate the necessary mortgage documents easily. 

These documents undergo a verification process and are shared with eligible banks. You can request and compare mortgage offers by uploading the same documents for each new request.

Mortgage rates for non-residents

Here’s an overview of the standard mortgage rates for both lenders to help you understand their offers.

Remember that the mortgage rate can vary depending on the type of property you buy, its value, and your deposit amount.

Standard rates
Standard rates
Fixed mortgage 

3.90% NIR 

4.57% APR


3.60% NIR

4.08% APR

Standard rates
Variable mortgage

First-year from 1.99% NIR

All other years from Euribor + 1.60%

5.65% variable APR


First-year 3.00% NIR 

All other years from Euribor + 1.60% NIR

5.41% APR Variable

Standard rates
Mixed mortgage

3.00% NIR first 3 years

Euríbor + 1.60% NIR other years

5.23% APR

You can lower your interest rate by up to 1% with additional products like home insurance or by having your paycheck or income paid directly into the account associated with the mortgage, as is the case with BBVA.

Sabadell also offers the opportunity to reduce the interest rate by 0.75% with bonus products.

BBVA vs Sabadell mortgage for foreigners: pros and cons

BBVA mortgage for foreigners: pros and cons


  • opportunity to lower your interest rate by up to 1% with additional products
  • no fees for notary, management, or registration
  • BBVA offers up to 80% financing for your mortgage if the property is going to be your primary residence


  • BBVA limits its mortgage offerings to foreigners who earn their income in EUR
  • A minimum property value of 100,000 EUR, which is higher compared to Sabadell

Sabadell mortgage for foreigners: pros and cons


  • opportunity to reduce the interest rate by 0.75% with bonus products
  • Sabadell distinguishes itself with the most competitive mortgage offers in our system
  • no threshold for the property value, although they prefer at least 70,000 EUR
  • they offer mixed mortgages as an option for foreigners


  • the outcome might vary between different branches in Spain

BBVA vs Sabadell mortgage: which is best for foreigners interested in buying property in Spain?

Let’s have a quick recap about how BBVA and Sabadell mortgages for foreigners stack up against each other:


Income currency requirement

Minimum property value
100,000 EUR
No strict threshold (prefer 70,000 EUR)
Interest rate reduction
Loan term options
Up to 30 years
Up to 30 years
BBVA accepts only EUR currency 
Mortgage outcomes might differ in Sabadell branches 

Which bank you choose for your Spanish mortgage is up to you. After reading this comparison, you should have a better idea of what each one has to offer and how it applies to you.

If you want to explore other options, you might check out Homevest

It connects you with multiple Spanish lenders, including BankinterSantander, UCI, and Unicaja. 

Either way, banks assess cases individually, and the interest rate can vary.


Sources used and checked in June 2024:

  1. Sabadell mortgage for non-residents
  2. BBVA mortgage for non-residents

We recommend obtaining professional or specialist advice before taking or refraining from any action based on the content in this article. The information in this article does not constitute legal, tax, or other professional advice from Homevest Limited. Prior results do not guarantee a similar outcome. We make no representations, warranties, or guarantees, whether express or implied, that the content in this article is accurate, complete, or up to date.

Delia Mihuț
Delia Mihuț
After comparing the two lenders, what factors make a Spanish lender attractive to you?
Related articles
Using a mortgage broker may lead to better deals

10 best mortgage brokers in Spain in 2024

Discover the best mortgage brokers in Spain for non-residents in 2024! Find the perfect fit for your needs with detailed reviews, pricing, and use cases.

Engage in negotiations with banks to secure the most favorable mortgage offers

Mortgage in Spain for UK citizens: everything you need to know

Continue reading to understand everything you need to know when applying for a mortgage in Spain from the UK, from key requirements to navigating post-Brexit changes.

Can EU citizens get a mortgage in Spain? Everything you need to know

Despite the dip in the housing market during the pandemic, Spain continues to be an excellent place to invest. In 2022, foreigners accounted for a record-breaking 14.6% of total property purchases in the country. If you’re looking to get a mortgage in Spain, understanding the process is essential. Fortunately, Homevest is here to help. Continue reading for more details.

Homevest makes it easy for you to get the best offer

How to get a mortgage in Spain as a non-resident: your ultimate guide

Learn everything you need to know about getting a mortgage in Spain, including requirements, interest rates, and info for non-resident buyers.

A platform for mortgages

Homevest is a pan-European mortgage and homebuying platform. We strive to bring the mortgages in the 21st century.

Where will you buy?