Mortgages in Marbella: What You Need to Know

Navigating the Mortgage Landscape with 3SA Estates

At 3SA Estates, we make it our mission to ensure you are always three steps ahead in your journey to securing your dream home. Today, we’re here to guide you through the process of obtaining a mortgage in Marbella. Whether you’re a resident or an expat dreaming of a luxurious villa, understanding the intricacies of mortgages can make your property purchase smoother and more informed. In this article, we delve into the types of mortgages available, the necessary requirements, and tips for securing the best deals.

Understanding Spanish Mortgages

When considering a mortgage in Spain, it’s important to note that Spanish banks generally do not impose restrictions based on purchase price or nationality. However, preference is often given to applicants from the United States and EU countries. This doesn’t mean other nationalities are excluded; many banks are increasingly catering to buyers from Northern and Eastern Europe, as well as China.

The most significant distinction between resident and non-resident mortgages lies in the loan-to-value (LTV) ratio. Non-residents, who pay taxes outside Spain, can typically borrow up to 60-70% of the property’s purchase price, while fiscal residents may be eligible for up to 80%.

Types of Mortgages Available

Spain offers various mortgage options, including those tailored specifically for expats. Most Spanish mortgages are variable rate loans tied to the Euribor (European inter-bank offered rate) plus a margin. Fixed-rate mortgages are also available, usually ranging from 2.4% to 3%, depending on the loan term. It’s worth noting that interest-only mortgages are no longer an option due to increased caution from banks following the property market crash.

Obtaining a Mortgage: Residents vs. Non-Residents

Spaniards living abroad and non-resident expats generally face higher interest rates compared to residents. This disparity is attributed to the additional conditions non-residents often cannot meet, such as having a bank-associated life insurance policy or their salary paid into a Spanish bank. To secure better lending conditions, it’s advisable to negotiate with various banks and leverage competing offers.

Application Process for a Mortgage in Marbella

More individuals are choosing to finance their Spanish property purchases with a mortgage from a local bank. The eligibility for non-resident mortgages is based on the fact that these buyers pay their taxes outside Spain. Here’s what you need to know:


  • A NIE (Número de Identificación de Extranjeros)

  • A Spanish bank account for paying property-related costs and taxes

  • Compliance with the Income Tax for Non-Residents

Necessary Documentation:

  • Identification and NIE

  • Pre-agreement with the property seller

  • Proof of income

  • Current debt and mortgage records

  • Proof of property tax payments

  • Existing property deeds

  • Prenuptial agreements, if applicable

Non-resident applicants must also provide a credit rating from their home country and evidence of the origin of any funds to combat money laundering.

Translating and Authenticating Documents

All foreign documents must be translated by a sworn translator and may require an Apostille of The Hague for international authentication. Your bank will guide you through these requirements.

Costs Involved in Obtaining a Mortgage

Prospective buyers should be prepared for various costs, including:

  • Property valuation fee

  • Mortgage opening fee (around 1%)

  • Home insurance (mandatory)

  • Life and mortgage insurance (optional but beneficial)

  • Early cancellation fee

  • Notary fee for mortgage registration

  • Spanish stamp duty (AJD)

  • Gestoria fee for deed arrangement

  • Land registry fee

Expect to allocate up to 10-15% of the purchase price for these costs, with new properties potentially incurring slightly higher fees due to stamp duty.


Understanding the mortgage process in Marbella is crucial for making an informed property purchase. At 3SA Estates, we are committed to helping you navigate this journey with ease and confidence. If you need further professional assistance, we can connect you with experienced advisors to provide personalized guidance. Secure your dream home with the assurance that you are making well-informed decisions every step of the way.

About Agent

Jimmy Widén

Founder / CEO

Get in touch if you would like further guidance on this subject or want to know anything else about the lifestyle you could have living in Marbella

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At 3SA Estate we work primarily as buying brokers – based on the customers’ best intentions. We stretch across the Costa del Sol but our focus area is Marbella. At 3SA Estate, we are inclusive, i.e. we sell high-quality homes regardless of budget, but our focus is middle-income and up. With our diverse and international team, we meet our customers in a high-quality approach regardless of nationality.

We help our customers negotiate and compare properties based on their unique needs and preferences, completely free of charge. We assist our clients throughout the entire process, including the legal sections, together with our partners at the best law frms. We have all the right contacts with legal agents, banks, craftsmen, cleaning companies, and other local operators to assure a safe and convenient process for our clients.

Our vision is to become the most attractive brokerage firm globally, based on the most important places in the world linked to each other, forming a solid business ecosystem between Estate, Selected, Rentals, Conferences, Concierge and Development.

What does our ecosystem mean for you? Imagine that you rent a house, fall in love with it, but cannot afford it and it is not for sale. We will assist you in purchasing an apartment. A few years later, you sell your company and buy a new house that requires renovation, which we help you with. So, we don’t just think of ourselves as a real estate company; we also see ourselves as a “concierge service” that makes our clients’ lives better.

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