<script type="text/javascript">var ajaxurl = "https://futurfinances.com/wp-admin/admin-ajax.php",ap_nonce = "e2f5dc1e01",apTemplateUrl = "https://futurfinances.com/wp-content/plugins/anspress-question-answer/templates/js-template";apQuestionID = "0";aplang = {"loading":"Loading..","sending":"Sending request","file_size_error":"File size is bigger than 0.48 MB","attached_max":"You have already attached maximum numbers of allowed attachments","commented":"commented","comment":"Comment","cancel":"Cancel","update":"Update","your_comment":"Write your comment...","notifications":"Notifications","mark_all_seen":"Mark all as seen","search":"Search","no_permission_comments":"Sorry, you don't have permission to read comments.","ajax_events":"Are you sure you want to %s?","ajax_error":{"snackbar":{"success":false,"message":"Something went wrong. 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Please try again."},"modal":["imageUpload"]}};disable_q_suggestion = "";</script>{"id":20082,"date":"2023-06-07T07:15:59","date_gmt":"2023-06-07T06:15:59","guid":{"rendered":"https:\/\/futurfinances.com\/?page_id=20082"},"modified":"2023-06-07T15:44:33","modified_gmt":"2023-06-07T14:44:33","slug":"non-resident-mortgages","status":"publish","type":"page","link":"https:\/\/futurfinances.com\/en\/non-resident-mortgages\/","title":{"rendered":"Non-resident mortgages"},"content":{"rendered":"<div id='av_section_1'  class='avia-section av-asd8m-8f8b8d5fb10c5a502eef50e52f9a48cb main_color avia-section-no-padding avia-no-border-styling  avia-builder-el-0  el_before_av_textblock  avia-builder-el-first  av-mini-hide avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-20082'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ko2s205s-20757a25b65ffb7ae38c51830c883b15\">\n.avia-image-container.av-ko2s205s-20757a25b65ffb7ae38c51830c883b15 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-ko2s205s-20757a25b65ffb7ae38c51830c883b15 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-ko2s205s-20757a25b65ffb7ae38c51830c883b15 av-styling- avia-align-center  avia-builder-el-1  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-12047 avia-img-lazy-loading-not-12047 avia_image ' src=\"https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes.jpg\" alt='' title='Hipotecas-a-no-residentes'  height=\"600\" width=\"1594\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes.jpg 1594w, https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes-300x113.jpg 300w, https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes-768x289.jpg 768w, https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes-1030x388.jpg 1030w, https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes-1500x565.jpg 1500w, https:\/\/futurfinances.com\/wp-content\/uploads\/2018\/07\/Hipotecas-a-no-residentes-705x265.jpg 705w\" sizes=\"(max-width: 1594px) 100vw, 1594px\" \/><\/div><\/div><\/div>\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><div id='after_section_1'  class='main_color av_default_container_wrap container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-20082'><div class='entry-content-wrapper clearfix'>\n<section  class='av_textblock_section av-ko2s1bej-9fa98284b53ae80b597406cf3d349e74 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p><strong>Non-resident mortgages<\/strong>\u00a0are loans bestowed by Spanish financial institutions to non-residents. Foreigners and Spaniards whose tax residence is not in Spain at the moment can be considered applicants for this sort of credit to acquire a second residence in Spain.<\/p>\n<p style=\"text-align: justify;\">Fill out the following form if you would like to receive recommendations from our expert mortgage brokers and analyze your chances of getting a non-mortgage in Spain:<\/p>\n<p><div  class='av_promobox av-oudnbn-72abf3d0a552bd9ff46a39b444484ee7 avia-button-yes  avia-builder-el-3  avia-builder-el-no-sibling '><div class='avia-promocontent'><p>\nFind out the best <strong>mortgage brokers in Spain<\/strong><\/p>\n<\/div><div  class='avia-button-wrap av-oudnbn-987c8d648384fff4f05ac3a01a6c9fa1-wrap avia-button-right '><a href='https:\/\/futurfinances.com\/en\/here-is-the-best-mortgage-do-not-pay-anything-more\/'  class='avia-button av-oudnbn-987c8d648384fff4f05ac3a01a6c9fa1 av-link-btn avia-icon_select-no avia-size-large avia-position-right avia-color-blue'  target=\"_blank\"  rel=\"noopener noreferrer\"  aria-label=\"&lt;strong&gt;Contact&lt;\/strong&gt;\"><span class='avia_iconbox_title' ><strong>Contact<\/strong><\/span><\/a><\/div><\/div><br \/>\n<\/p>\n<h2>Documentation for a non-resident mortgage<\/h2>\n<p style=\"text-align: justify;\">The economic-related documentation requested from non-resident citizens to evaluate the granting of the mortgage depends on each country. This is so because the regulation regarding the proof of income and property ownership differs from country to country. The foreign clients that enjoy the most diverse offer of this type of mortgage loan are the British and the German citizens. Although there are many more qualified nationalities, financial institutions offer this sort of mortgage only to certain European nationalities or some Western countries outside the Eurozone such as the USA.<\/p>\n<p style=\"text-align: justify;\">Although it is possible that the financial institution in Spain agrees to receive the scanned documentation or by post, they usually require an in-person presentation of the original documents, as well as the signature of the deed in the presence of a notary.<\/p>\n<p>Generally speaking, banks would ask for the following details to start off the non-resident mortgage analysis:<\/p>\n<ul>\n<li>Passport or NIE\/NIFF<\/li>\n<li>At least the payslips of the previous 3 months, or proof of income.<\/li>\n<li>Labour contract (if hired hand) or self-employed worker.<\/li>\n<li>Bank statement during the previous 12 months of the bank account where the payroll and other sources of income are set up.<\/li>\n<li>The previous annual tax return that was submitted to the tax office of the client&#8217;s country.<\/li>\n<li>Proof of ownership of all assets (properties, vehicles, account balances&#8230;) in the country of origin.<\/li>\n<li>Tax residence certificate from the country of origin.<\/li>\n<li>If the client has any other loans, debts or credit cards, one must provide the last 3 receipts.<\/li>\n<li>Deposit contract after paying a deposit to the seller, if applicable.<\/li>\n<\/ul>\n<h2>Savings<\/h2>\n<p style=\"text-align: justify;\">Banks would never grant over 80% of the purchase or the selling price of the house. This implies that you must provide at least 20% of the transaction, plus the expenses (about 10%) of the purchase in question. For this reason, and based on the client&#8217;s profile, the banks could require your savings to come to 50% of the selling price.<\/p>\n<h2>Taxes to be paid by the non-resident buyer<\/h2>\n<p>Just like any other resident buying a house or a property, this acquisition is subject to a series of expenses and taxes.<\/p>\n<p>The\u00a0<strong>valuation of the house<\/strong> is a cost that amounts to 500 EUR on average.<\/p>\n<p>With regards to the deed of the purchase, you may find yourselves in one of these two scenarios:<\/p>\n<ul>\n<li>Brand new properties: 10% VAT is applicable unless the property is considered an\u00a0<em>Officially Protected Dwelling.\u00a0<\/em>In the last case, the VAT applicable is only 4%.<\/li>\n<li>Second-hand properties: a Tax on Property Transfer is applied which depends on the Spanish Autonomous Community in question. It ranges from 4% to 10%.<\/li>\n<\/ul>\n<p>Regarding the deed of the non-resident mortgage loan:<\/p>\n<ul>\n<li>The client must pay for the\u00a0<em>Document Duty and Registration Fees<\/em> which goes from 0.5% and 1.5% depending on the Autonomous Community.<\/li>\n<\/ul>\n<p>Apart from the above-mentioned taxes, the purchaser must also cover other expenses like the administrative expenses for both the deed of the purchase and the deed of the mortgage. In many cases, the client will also have to face the broker&#8217;s fees for professional services. All these expenses must be recorded in the <em>European Standardised Information Sheet<\/em> (ESIS), which must be handed in before signing in the presence of a public notary.<\/p>\n<h2 style=\"text-align: justify;\">Non-resident mortgage to foreign residents in Spain<\/h2>\n<p style=\"text-align: justify;\">Do not get this mixed up. Mortgage loans for non-residents are different from the mortgages a foreign living in Spain (and being a tax resident) could access. Mortgages for residents in Spain, regardless of whether they were born in Spain or not, are common mortgages aimed at acquiring a first or second home. The target client of non-resident mortgages is those who pay their taxes outside of Spain. It has nothing to do with their nationality.<\/p>\n<h2>Non-resident mortgage conditions<\/h2>\n<p style=\"text-align: justify;\">Mortgages for non-residents are usually more expensive than mortgages for tax residents in Spain. There are several reasons, among which we highlight the following ones:<\/p>\n<ol>\n<li>The difficulty for Spanish banks to assess the income-generating capacity of non-residents. They must analyze all documents from a foreign country and delve into foreign companies within sectors Spanish banks do not excel at.<\/li>\n<li>The issue of having to recover the debt if the non-resident mortgagee defaults on the mortgage loan.<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">These are some of the reasons why Spanish financial institutions usually require more savings for the operation and offer worse financial conditions to non-residents. Nonetheless, <a href=\"https:\/\/futurfinances.com\/en\/here-is-the-best-mortgage-do-not-pay-anything-more\/\" target=\"_blank\" rel=\"noopener\"><strong>mortgage brokers selected by Futur Finances<\/strong><\/a> have bespoke agreements with a wide portfolio of banks to offer the best mortgage conditions to non-residents in Spain.<\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"<\/div>\n<\/div>\n<\/div>\n<p><!-- close content main div --><\/div>\n<\/div>\n<div id='av_section_2'  class='avia-section av-asd8m-8f8b8d5fb10c5a502eef50e52f9a48cb main_color avia-section-no-padding avia-no-border-styling av-mini-hide avia-bg-style-scroll container_wrap sidebar_right'  >\n<div class='container av-section-cont-open' >\n<div class='template-page content  av-content-small alpha units'>\n<div class='post-entry post-entry-type-page post-entry-20082'>\n<div class='entry-content-wrapper clearfix'>\n<div  class='avia-image-container av-ko2s205s-20757a25b65ffb7ae38c51830c883b15 av-styling- avia-align-center'   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" >\n<div class=\"avia-image-container-inner\">\n<div class=\"avia-image-overlay-wrap\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><!-- close content main div --><\/div>\n<\/div>\n<div id='after_section_2'  class='main_color av_default_container_wrap container_wrap sidebar_right'  >\n<div class='container av-section-cont-open' >\n<div class='template-page content  av-content-small alpha units'>\n<div class='post-entry post-entry-type-page post-entry-20082'>\n<div class='entry-content-wrapper clearfix'>\n<section  class='av_textblock_section av-ko2s1bej-9fa98284b53ae80b597406cf3d349e74 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" >\n<div class='avia_textblock'  itemprop=\"text\" >\n<p><strong>Non-resident mortgages<\/strong>\u00a0are loans bestowed by Spanish financial institutions to non-residents. Foreigners and Spaniards whose tax residence is not in Spain at the moment can be considered applicants for this sort of credit to acquire a second residence in Spain.<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":11,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-20082","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Non-resident mortgages: expert mortgage brokers<\/title>\n<meta name=\"description\" content=\"Taxes, expenses, documents and other things to have into consideration when applying for a non-resident mortgage loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/futurfinances.com\/en\/non-resident-mortgages\/\" \/>\n<meta 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