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What deposit do you have to pay to buy a house in Spain from the UK?

In addition to the deposit, you should expect to pay taxes associated with your purchase. Explore insights on the deposit amounts and considerations when purchasing a property in Spain as a UK resident.

Delia Mihuț
Written by Delia Mihuț
Published at 2023-10-18
Last updated on 2024-04-12
Readtime 1 minute

Choosing to purchase property in Spain with a mortgage comes with its considerations, whether for relocation, a vacation getaway, or an investment rental. A fundamental step is the upfront cash deposit.

In this article, we'll dive deep into the specifics of deposit requirements in Spain.

What do you need to know about the deposit when buying property in Spain?

As a non-resident buying property in Spain, you can expect Spanish banks to cover up to 70% of the property's value through loans. This means buyers are typically required to contribute a 30% cash deposit, and 4-11% for taxes and fees, which can fluctuate based on the property's location.

This standard applies broadly, regardless of whether the buyer hails from the UK, the US, the EU, or elsewhere.

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

It’s worth mentioning that for Spanish citizens looking to relocate, UCI offers the advantage of a reduced 20% deposit when buying a home. This benefit applies exclusively if they intend for the property to be their primary residence.

Manage your mortgage application with Homevest directly from the UK

If you're looking to consolidate your mortgage documents in one place, Homevest is a self-service platform that makes the process easy. 

Homevest digitizes access to banking offers for non-residents, including UK citizens. This platform allows applicants to get a mortgage simulation in 24 hours and receive mortgage offers from top Spanish banks, including CaixaBank, Sabadell, Santander, and Cajasur.

Learn more about the best mortgages for UK citizens interested in buying in Spain, and discover the benefits you can obtain.

How much tax will you pay to buy a property in Spain? 

In addition to the deposit, you should expect to pay taxes associated with your purchase. Typically, these include property taxes, mortgage fees, gestoría and bank fees, land registry fees, and real estate agent fees.

Resale property taxes

For properties previously owned, the principal tax is the Property Transfer Tax (ITP). This tax fluctuates depending on the region, with rates between 6% and 11% of the property's value. 

New property taxes

For newly constructed properties, the taxes are the Value Added Tax (IVA), usually 10% of the buying price, and the Stamp Duty (AJD), which varies regionally but typically falls between 0.5% and 2%.

Additional tax considerations

  • Notarial fees (0.5-1% of the property's value)
  • Mortgage-related charges
  • Gestoría and banking charges 
  • Land registry charges (0.5-1%)

For a comprehensive understanding, consider reading a tax guide for non-residents buying property in Spain to be well-prepared for potential expenses.


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.

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