When choosing a mortgage, consider your financial situation and risk tolerance
When choosing a mortgage, consider your financial situation and risk tolerance

Comparing mortgage interest rates in Spain: what you need to know

Understanding mortgage rates helps you make informed decisions, whether you're a first-time buyer or an experienced investor. Discover the current mortgage interest rates in Spain and learn how Homevest can assist you in comparing the available mortgage offers.

Delia Mihuț
Written by Delia Mihuț
Published at 2023-07-17T09:24:05Z
Last updated at 2024-01-10T14:52:36Z
Readtime 3 minutes

Are you looking to expand your property budget in Spain? A mortgage can be a valuable tool to open up new opportunities for property investments. 

Understanding mortgage rates helps you make informed decisions, whether you're a first-time buyer or an experienced investor. 

Simplify the process with Homevest's digital platform for cross-border mortgages. Apply and receive mortgage offers from Spanish banks, allowing you to find the best deal.

What are the banks that offer Spanish mortgages for foreigners?

Sabadell, Santander, BBVA, Caixa, Cajasur, UCI, Unicaja, and Bankinter are among the banks that offer Spanish mortgages for foreigners. 

These banks offer diverse mortgage options for non-residents seeking to buy property in Spain, accommodating individuals of different nationalities, residency countries, currencies, and loan amounts.

Santander Mortgages

Santander Mortgages allows non-residents from various nationalities and residency countries to access The Mundo Mortgage. With flexible terms of up to 20 years, individuals from countries such as Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, and more can secure a mortgage to fulfill their Spanish property dreams.

Sabadell Mortgages

If you value a quick and straightforward application process, Sabadell Mortgage offers an attractive option. Non-residents who receive their salary in currencies such as EUR, CZK, DKK, NOK, SEK, CHF, GBP, USD, HUF, RON, BGN, MXN, JPY, PLN, and UAE are eligible for a mortgage. 

BBVA Mortgages

You should know that one of the main requirements of banks in Spain is the currency in which you receive your income. BBVA Mortgages exclusively serves individuals who earn income in euros. If your salary is in a different currency, BBVA cannot provide you with a mortgage. 

Caixa Mortgages

Caixa Mortgages offers a wide loan amount range between 100,000 EUR and 2,900,000 EUR for individuals interested in purchasing property in Spain. Additionally, Caixa accepts documents in your language without translation, making the mortgage application process more accessible and convenient for international applicants.

Cajasur Mortgages

If you're considering purchasing a house in the Costa del Sol and Andalusia regions, a mortgage from Cajasur is an excellent choice. With Cajasur, you can borrow between 80,000 and 1,000,000 EUR.

UCI Mortgages

UCI enables individuals from the UAE, Romania, and South America to obtain mortgages by establishing a Spanish company. What does this mean? The entity registered as Sociedad Patrimonial is getting a mortgage and includes the individual as the guarantor for the loan. 

Bankinter Mortgages

Bankinter offers tailored mortgage solutions for non-resident foreigners, including individuals from the US and UAE. However, the fixed-rate mortgage is only available to borrowers whose income is in euros or who reside in a EUR country with the euro as its national currency.

What are the current mortgage rates in Spain?

Below are the current mortgage interest rates offered by eight banks in Spain, particularly for foreigners interested in expanding their property budget:

Lender Variable Rate Mortgage Fixed Rate Mortgage Mixed Rate Mortgage
BBVA 1.39% first year followed by 1.50% + Euribor 12m 3.80% The product is not available 
Santander 1.82% + Euribor 12m 3.99% for the first 6 months followed by 4,99% The product is not available 
Sabadell 1.8% first year followed by 1.2% + Euribor 12m 4.95% The product is not available 
UCI 4,75% first year followed by 1.89% + Euribor 6m 5.95% for 10 years 4.95% for 10 years followed by 1,29% + Euribor 6m
Bankinter 2.80% first year followed by 2.05% + Euribor 12m

4.60% for 10 years


4.80% for 30 years

4.60% for the first 10 years followed by 2.05% + Euribor 12m
CaixaBank The product is not available  3.55% The product is not available 
Cajasur 2% + Euribor 12m The product is not available  4% for the first 5 years followed by 2% + Euribor 12m
Unicaja 1.49% first year followed by 1.5% + Euribor 12m 3.35% in the first half year and 4.25% subsequently 2.85% for the first 5 years followed by 1.69% + Euribor 12m

The interest rates comparison was made on July 14, 2023

When choosing a mortgage, consider your financial situation and risk tolerance, balancing potential rate increases against higher but stable costs.

Variable Rate Mortgages Spain

The Euribor, a key European interbank lending rate, influences variable-rate mortgages. If Euribor rises, so do these mortgage rates, potentially increasing your monthly payments. This often happens during economic growth or inflation.

Fixed-Rate Mortgages Spain

In contrast, fixed-rate mortgages maintain a constant rate throughout their term, providing stability but usually at a higher rate. These are immune to Euribor changes and provide predictability.

Mortgage rates tend to spike during economic growth or inflation as central banks aim to prevent overheating.

Homevest helps you to receive mortgage offers from banks in Spain 

If you want to simplify the process of accessing a mortgage directly from abroad, Homevest is a solution that deserves your attention.

With Homevest, applying for and receiving mortgage offers from Spanish banks is easy and convenient. 

  • You can take advantage of a mortgage comparison tool to compare the costs associated with each option and make an informed decision
  • You don’t pay any fee if you want a mortgage simulation and mortgage offers from the banks
  • You can manage your application directly from your Homevest account, allowing you to monitor the progress seamlessly
  • You can request a premium service to have a dedicated mortgage broker for your case and to receive priority service from the banks

One more thing. Your case is handled by a team that understands your situation and is committed to simplifying this experience. 

You can see for yourself by reading Sandra's case, where she purchased a property in Madrid while residing in France. Similarly, Ferran secured a mortgage in Spain despite being in Finland.

Securing a mortgage can be challenging, but with planning and thorough research, you can get the necessary financing to transform your dream of owning a home in Spain into a reality. 

Keep reading to explore the process of securing a Spanish mortgage as a non-resident and discover how Homevest can change your property-buying journey.

Sources used and checked on July 2023:

  1. Variable Rate Mortgage Unicaja
  2. Fixed Rate Mortgage Unicaja
  3. Mixed Rate Mortgage Unicaja
  4. Fixed Rate Mortgage CaixaBank
  5. BBVA Mortgages for non-residents
  6. Fixed Rate Mortgage Santander
  7. Fixed Rate Mortgage Sabadell
  8. UCI Mortgages
  9. Variable Rate Mortgage Bankinter
  10. Fixed Rate Mortgage Bankinter
  11. Mixed Rate Mortgage Bankinter

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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