A mortgage broker can simplify your experience when buying in Spain from abroad
A mortgage broker can simplify your experience when buying in Spain from abroad

How to choose your mortgage broker for financing in Spain

When choosing a mortgage broker in Spain, consider their experience, reputation, lender network, customer service, fees, and seek recommendations and online reviews. Read a handy guide to help you choose your mortgage broker in Spain when you are a non-resident buying from abroad.

Delia Mihuț
Written by: Delia Mihuț
Published at 2024-02-22
Last updated on 2024-06-11
Readtime 3 minutes

Considering buying property in Spain? Knowing your mortgage options as a non-resident is important whether you're planning to relocate or spend your summers there. 

The good news is that Spain welcomes foreign buyers, and brokers are ready to help you.

But how do you choose the right mortgage broker for you? 

Continue reading a handy guide to help you make up your mind. We’ll also explore Homevest, a digital service that makes the banks compete for you.  

Why might you need a mortgage broker in Spain?

As a non-resident, you might not be familiar with the local market. The mortgage process can become overwhelming without knowing the language or the intricacies of Spain's legal framework.

mortgage broker can streamline your experience by leveraging established relationships with lenders and in-depth market knowledge. They provide guidance and negotiate on your behalf to get you a better deal. Continue reading what you need to know about the available options, and why you should use a mortgage broker for your financing as a non-resident in Spain.

How to choose your mortgage broker for financing in Spain

When choosing a mortgage broker in Spain, consider their experience, reputation, lender network, customer service, fees, and seek recommendations and online reviews.

Experience and expertise

If you're interested in someone with several years in the market, plenty of options are available. 

Mortgage Direct is a leading mortgage broker in Spain with over a decade of experience. However, don't overlook a newer broker entering the market; years of experience aren't the only measure of competency. Habeno, for instance, works with 15 lenders, including Sabadell, Bankinter, UCI, Cajasur, and Unicaja. 

While competing with someone with 20 years of experience is challenging, that shouldn't be the only deciding factor. Speaking your language or providing additional legal services could be another reason to tilt the balance. 

Personalized customer service

If you're from Sweden or Norway and prefer to communicate in your native language, several mortgage brokers offer assistance in your mother tongue. Examples include Habeno, and Bank in Spain.

Some brokers specialize in specific regions of Spain. For instance, Lionsgate Capital focuses on serving customers interested in financing properties in the Balearic Islands. While most brokers cover the entire country, some also extend their services to Portugal.

Online reviews

When you're new to the market and don't know anyone in Spain, online reviews can help you form an impression of a broker. Consider their website, as it serves as a business card, and analyze the Trustpilot comments from previous customers. 

Usually, people only leave a comment when they are either very satisfied with the service or entirely disappointed, making this a useful indicator.

Taxes and fees

Although fees vary among brokers, they typically range from 0.5% to 2% of the loan amount:

  • IMS charges a fee ranging from 299 GPB to 995 GPB, depending on the loan amount and case complexity
  • Mortgage Direct requires an initial fee of 695 EUR to start an application, plus an approval fee of 0.6% of the mortgage amount
  • Foxes charge 1,500 EUR + VAT upon offer acceptance and an additional 0.5% of the total mortgage amount + VAT upon completion of the binding paperwork

Compare a list of mortgage brokers who can help you access a mortgage for buying a property in Spain and see how you can compare the available credit offers.

Secure your best deal with Homevest

Homevest offers flexible services for non-residents looking to purchase property in Spain. Their self-service platform digitalizes the mortgage process, providing an estimated simulation to help you understand your financial standing.

The Homevest team delivers customized solutions to meet your needs, assisting in comparing offers from multiple leading Spanish banks like Santander, Sabadell, Unicaja, Cajasur, CaixaBank, Banca March, Bankinter, and UCI. They make these banks compete for your case, saving you time and effort.

You can also apply by yourself as a foreigner, but I would suggest asking for help if you want a smooth process.

Homevest guided me through the process and supported me in additional steps, such as applying for NIE, connecting me with the right company for valuation, double-checking the process, and most importantly, I always felt supported. I had the confidence that I was in very good hands in case I missed something”, says Petra, a Swiss resident who purchased a property in Spain with Homevest. 

Pros and cons of having a mortgage broker for your financing in Spain as a non-resident

The process becomes much simpler when you have multiple options to find the best mortgage for your financial needs. Navigating a foreign market and unfamiliar Spanish laws can be daunting, but having guidance for your paperwork and someone to negotiate better terms on your behalf is reassuring.

While it may involve additional costs, the value of having someone who speaks your language and clarifies everything you need to know about completing your mortgage is worth it.

Explore our comparison of mortgage brokers versus banks in Spain to discover which option offers the best deal, whether you're dealing directly with a bank or prefer someone handle your case.


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.

Related articles
Homevest allows you to easily request and compare mortgage offers from leading banks

Fixed-rate vs. variable rate mortgages in Spain: the full comparison for non-residents

In the last quarter of 2023, mortgage rates went up, with small tweaks in fixed rates and increases in variable rates as the year ended. Continue reading our comparison of fixed-rate vs. variable rate mortgages in Spain, including their pros, cons, and opportunities compared.

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?