Can a non-resident foreigner get a mortgage in Spain, and how much deposit?

Foreigners can buy and can borrow

Spain places no nationality restriction on property ownership, and it is routine for Spanish banks to offer mortgages to non-resident foreign buyers, particularly in an international market like Marbella where lenders are used to overseas clients. You will need the usual documentation — proof of income, tax returns, existing debts, and an NIE — and the bank will value the property independently.

The 60–70% LTV cap and what it means for cash

The key difference from a resident purchase is loan-to-value. Where a Spanish resident might borrow 80% of a main home, a non-resident is typically limited to roughly 60–70% of the lower of price or bank valuation. That gap forces a larger deposit: on a 2 million euro villa financed at 65% LTV, you contribute about 700,000 euros of deposit, then the buying costs (ITP/IVA, notary, registry, lawyer, NIE) add roughly another 10–13% — here around 200,000–260,000 euros — payable from your own funds, not the loan.

So the honest cash requirement at completion is the deposit plus the full buying costs, and it should be modelled before you commit to a price. Rates, whether fixed or variable, and the precise LTV vary by lender and by your income profile, so get a decision-in-principle from a Spanish bank or a specialist non-resident mortgage broker early, and confirm every figure for your case.