For non residents buying in Spain, Spanish Banks offer different terms and pricing for Spanish loans to that offered to fiscal residents of Spain. In the past the differences in Spanish Bank rates was quite significant but in the current market what a non resident can gain as a mortgage interest rate in Spain is similar to that offered to a resident. Most Banks have set mortgage products and terms but a some will base the terms they offer on a client by client basis taking into account the total relationship they will have with the mortgage applicant and other factors like loan to value and debt to income ratios. All loans in Spain are repayment, no interest only is currently available. Ages for completion of loan are between 60 years to 75 years dependent on Bank and maximum terms range from 15 years to 30 years. Fixed rates for full term available.
Mortgage rates are still low.