Interest rates for foreigners in Spain
For a standard non-resident profile, typical mortgage interest rates are 1.75% fixed for 25 years and Euribor + 1.5% for a variable rate mortgage. The Euribor has recently risen though remains negative at -0.285 at the time of writing. This currently results in a variable interest rate of 1.22% which would typically be revised every 12 months on the policy anniversary. Bank opening fees range from 0 to 1% and whilst most banks insist the client takes out ancillary products such as home and life insurance, this isn’t always the case.
Interest rates are lower for fiscal residents and high value mortgages, we’re achieving fixed rates from 0.95% and variable rates from Euribor + 1% (resultant rate 0.72%). Additional products aren’t usually required. Additional products aren’t usually required.
Of course, depending on the profile of the client and the banks conditions, actual rates can be lower or higher. Rates have been fairly constant since 2019 but are expected to increase as Euribor and inflation increase. Our advice: buy now and secure an exceptionally low rate while you can!
Learn more about the mortgage borrowing and their interest rates.