How much deposit do I need for a Spanish mortgage?

For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. This means that you would need to invest at least 45% of the property value from your assets.

What is the interest rate in Spain?

As of March 2025, the average mortgage has an interest rate of 2.97%. The lowest rate ever was 2.44%, very close to the current level! The average mortgage duration is 25 years 33% have variable interest rates 67% have fixed interest rates. The average rate for variable-rate mortgages is 2.82%, and The average rate for fixed-rate mortgages is 3.05%. Read our dedicated article on that subject for more recent data.

Can foreigners get a mortgage in Spain?

Yes, foreigners can get a mortgage up to 70% of the Value of a property.

Can I get a Spanish mortgage?

It is very easy to get a mortgage in Spain. What are the documents requested? Your Passport / ID for all the applicants Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number. How do you get your NIE in Spain? What do you need to get it? Why do you need it? Last 3 paychecks with the contract of employment Proof of income/Contract A view of your assets and debts If it’s a new building: the “Deed for the new building” The private sale-purchase contract If you have a mortgage at home, land registry information on the property and the mortgage If pensioners: Official proof of annual income.

Spanish mortgage rates Archives - How to buy in Spain

What are the best Spanish mortgage rates? June 2025 update

STEPHANE — Wed, 04 Jun 2025 12:37:49 +0000

Click on any flag to get an automatic translation from Google Translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

What are the best Spanish mortgage rates?

Here is our June 2025 update with the latest data available

Leveraging our expansive network of local partners, we secure Spain’s most favourable mortgage rates for those looking to finance their homes. Throughout much of 2022, we observed significant discounts on mortgage rates as inflation surged while long-term rates remained subdued, thanks to the European Central Bank’s (ECB) efforts. In early 2025, inflation is more controlled, at 1.9% as of May 2025, returning to the low end of the range over the past three years. It appears that economies are suffering from the ECB’s restrictive monetary policy. In this context, some market experts expect the central bank to lower rates. We can already see this impacting mortgage conditions and long-term rates.

To stay informed about the latest Spanish mortgage rate trends, it’s crucial to consult real-time data from the most recent mortgages issued in Spain. This insight allows you to understand the most competitive rates currently available. Foreigners must note that rates may vary since their assets are primarily overseas.

We’ve built the most extensive database to monitor fluctuations in this sector, allowing us to generate dynamic and engaging charts. The “Instituto Nacional de Estadísticas” (INE) has recently published mortgage statistics for Spain as of March 2025, providing a clear view of current market rates.

Thanks to our network of local partners, we get the best mortgage rates in Spain if you want to finance your home in Spain. Take 30 seconds to complete this quick form to get the best Spanish mortgage rates.

Spanish mortgage rates: our 2-minute video

Would you like to watch this video in your language? Click on the bottom right of the video on “cc” to get subtitles in your language.
What are the current mortgage rates in Spain?

Current market conditions
- The average mortgage has an interest rate of 2.97% (vs 3.25% end of December 2024)
- The lowest rate ever was 2.44% reached in September 2020.
- The average rate for variable-rate mortgages is 2.82% (vs 3.16% end of December 2024)
- The average rate for fixed-rate mortgages is 3.05% (vs 3.30% end of December 2024)
Check the evolution of the mortgage rates (average, fixed and variable ) over the last years on our interactive chart (browse with the mouse to check data)

What are the best mortgage rates for our customers?

As of September 2024, our partner can get perfect conditions for mortgages for our non-resident buyers:
- Fixed rates: from 2.85%
- Mixed solution: from 2.50% fixed for 5 years, after Euribor + 0.75%
- Variable rates: from 2.50% fixed for 1 year, after Euribor + 0.75%
And of course, they don’t stop with foreigners, our partner gets very competitive mortgage rates for Spaniards:
- Fixed rates: from 2.52% (if taking other products like insurance from the bank, for instance,…)
- Mixed solution: from 1.50% fixed for 5 years, after Euribor + 0.60%
- Variable rates: from 1.35% fixed for 1 year, after Euribor + 0.25%
So, don’t hesitate to fill out this quick form if you want a free quote from our partner. They specialise in working with foreigners looking for a mortgage in Spain. Please note that to get the best rates, banks add some conditions, as in your home country.

Essential information on Spanish Mortgages for non-residents

As a non-resident, you can take a mortgage to finance your second home or your investment. Of course, since your assets won’t be based in Spain, the bank will require warranties and generally won’t allow a loan-to-value ratio of more than 70%. The loan-to-value is the amount of mortgage you can get divided by the value of your property before tax, but this percentage is only for reasonable inquiry. Don’t hesitate to ask for a free quote from our mortgage broker; he knows exactly how it works and which Spanish banks are friendly to foreigners.

Don’t miss our new detailed article on that subject: Mortgage rates in Spain for non-residents: our detailed guide.

Get the best mortgage rate in Spain

Calculate the cost of your Spanish mortgage

Check our ultimate Spanish mortgage calculator.

To help you out, we’ve created an easy-to-use table showing the monthly repayments depending on the amount you want to borrow for a mortgage. If you want to go deeper into details, use our calculator to fine-tune your mortgage to your situation, and you will find out what your monthly payments, mortgage schedule, etc., would be.

We developed a detailed mortgage calculator: Payment schedule, monthly payments,…

What is the cost of a €100,000 mortgage over 10 years?

If you want to go into the details, here is a calculation example we did:

As you will see, if you take out a €100,000 mortgage for 10 years at a rate of 3.5%, your monthly payment to repay the mortgage will be €989.

Thanks to our Spanish mortgage rate calculator, you can change any number and calculate what your situation would be.

Summary table of your monthly reimbursements for a €100.000 Mortgage

€100,000	10 Year	12 Year	14 Year	16 Year	18 Year	20 Year
Rates	120 months	144 months	168 months	192 months	216 months	240 months
1.50%	-€898	-€759	-€660	-€586	-€529	-€483
2.00%	-€920	-€782	-€683	-€609	-€552	-€506
2.50%	-€943	-€805	-€706	-€632	-€575	-€530
3.00%	-€966	-€828	-€730	-€656	-€600	-€555
3.50%	-€989	-€851	-€754	-€681	-€625	-€580
4.00%	-€1,012	-€876	-€778	-€706	-€650	-€606

Buy to let in Spain?

If you are about to invest in Spain, it is always interesting to compare the financing conditions with your return prospects. Check our last article on that subject:

What return will you make on your Spanish Property investment? If you see your property investment in Spain as an investment, adding some financing (without being crazy) will increase your return and decrease your costs.
Should I take a mortgage with fixed or variable rates?

Fixed-rate and variable-rate mortgages are the two main categories of mortgages you can choose from. Of course, there are many other possibilities between the two.

Check the evolution of the percentage of mortgages with fixed and variable rates, with the inflation rate

The Spanish mortgage market has undergone a dramatic transformation since 2021. Our latest data shows 64% of property investors now choose fixed-rate mortgages at 3.17%, while just 36% opt for variable rates – a complete reversal from the pre-2021 landscape when variable rates dominated at 60-65%.

This shift tells a compelling story: When inflation exploded from near-zero to 11% in 2022, investors rushed to lock in fixed rates, pushing fixed-rate adoption to 75% at its peak. Now, even as inflation has cooled to 2.30%, the majority remains cautious – maintaining their preference for fixed-rate protection.

The key takeaway: Spanish property investors have learned from the recent inflation shock. Despite rates declining from their peaks, 64% still choose the certainty of fixed rates over potential savings from variable options. This persistent preference for stability suggests the market anticipates future inflation risks – a view we share, as we believe current inflation levels represent the lower end of the range.

Why would you take a fixed-rate mortgage?

A fixed-rate mortgage has the advantage that, regardless of future market conditions, it will remain the same. To get that advantage, you will, on average, pay a higher rate than with a variable-rate mortgage. For instance, as of September 2024, mortgages with variable rates were issued at rates of 2.92%, while those with fixed rates were issued at 3.30% for an average length of 24 years.

Why would you take a mortgage with a variable rate?

It could be because it is less expensive than a mortgage with fixed rates (monthly instalments) because you don’t see inflation or rates going higher or because you are comfortable financially and can face higher rates in the future. Another reason variable rates cost less than fixed rates is that for the banks issuing them, it matches their sources of funds, such as savings accounts, and they take less risk by issuing them rather than fixed-rate mortgages.
To sum up, if you want safety, take a fixed-rate mortgage. If you see inflation spiking or interest rates going higher (in general due to a strong economy) you could as well go for a fixed-rate mortgage. Of course, the longer your mortgage is, the higher your risk will be.
Don’t hesitate to ask your Spanish mortgage broker for pricing with both and compare both offers.

Inflation update since the start of 2023

After the big inflation spike of 2022 around the world and in Spain, inflation in Spain is finally moderating to +2.2% as of August 2024. We note that since 2022, the trend has changed clearly, and the majority of mortgages are issued with fixed rates. We kept telling you in 2022 to lock in those crazy long-term rate levels… remember our chart:

As we enter 2025, with inflation now at what we view as the lower end of its range, we see a higher risk of inflation rising from here. Some people see a real risk of inflation staying high, which in turn should lead to higher variable rates. Since June 2023, we have still seen fixed-rate mortgage initiations dominate, and we believe this trend should continue. While rates have declined through late 2024 and early 2025, we strongly recommend locking in fixed rates now while they remain historically attractive. As of early 2025, with both short-term and long-term rates converging around 2.3-2.4%, this presents an excellent opportunity to secure predictable financing costs before potential inflation pressures push rates higher again. Check our interactive chart on that.

We wrote an article on that subject: “Fixed or Variable Mortgage for My Spanish Home?“

How do you secure the best mortgage rates in Spain?

You are about to buy a lovely second home in Spain. Do you want to know how to get the best mortgage rates on your Spanish property? Even as a foreigner?
Check our detailed paper on this subject and follow the link or listen to our 2-minute video on how to apply for your mortgage up to the end and get all our tips to get the best rates:

You have to ask yourself: What is the ideal mortgage customer for a bank? The bank will take a risk, the risk of not being repaid. In this case, the bank will need to take legal action to control your property and sell it on the market afterwards. We saw what happened after the 2008 financial crisis: thousands of properties were handed over to banks as owners couldn’t pay their mortgages.

The ideal mortgage customer for a Spanish bank
- has a good professional profile: he is employed and has a stable, nice income stream,
- has a good credit report, he does not have too much debt vs. his income,
- can afford to have debts: his debt-to-income ratio is under 35%, which means that his monthly net income is three times bigger than his monthly debt repayments.
- The property has a good resale value:
  1. The property price is correct vs. the market
  2. There is demand in the market for such a property
- is coming from OECD countries. As you know, with anti-money laundering laws that have gone into effect across Europe, it is challenging for banks to lend to residents of certain countries. Of course, if you are a resident of the European Union, it will be the easiest.
How to get the best rates as a non-resident?

Get a free mortgage quote

At howtobuyinSpain.com, you’re in good hands. We work with a mortgage broker who gets the best mortgage prices from all Spanish banks. Depending on your profile, some banks will be more aggressive, while others won’t. Our mortgage partner knows that, and they will go to the best bank or will ask for quotes from many Spanish banks to get you the best quote. They work with all the biggest Spanish banks, including BBVA, Bankia, and Santander. Get a free mortgage quote from our partner.

Spanish Mortgage Rates: Market Insights and Trends

423,761 mortgages issued in Spain in 2024

2022 was a record year for mortgage rates in Spain, with 464,000 credits issued. Even stronger than 2021, which was already strong. So, in 2024, with the rise of interest rates, the number of mortgages is back to a strong level and growing 11% vs previous year (which was itself a weak year with a decrease of 18%), while at the same time, the number of transactions increased by 7% to 636,909.

A healthy market: Only 67% of properties are bought with a mortgage (vs 64% in 2023). In our opinion, the market is not over-leveraged. Have a quick look at the table for statistics since 2015. Yes, we are far from the high-leverage situation we had in 2007.

Last but not least, it is always interesting to know the long-term rates and the Euribor, as those are the rates at which Spanish banks get financed.

Spanish Bank Financing Costs: 10-Year Bond Yields vs. Euribor Rates (2020-2025)

The chart reveals a fascinating story of European monetary policy and interest rate evolution:

The Ultra-Low Rate Era (2020-2022)

From 2020 through early 2022, all rates remained historically low. The 10-year Spanish bond yield hovered between 0% and 0.5%, while both 1-month and 12-month Euribor rates were actually negative – a remarkable period where banks essentially paid to borrow money.

The Great Rate Surge (2022-2024)

Starting in early 2022, we witnessed a dramatic shift. All three rates exploded upward in response to the ECB’s aggressive monetary tightening to combat inflation:
- 10-year bonds peaked around 3.7% in late 2023
- 12-month Euribor reached above 4%
- 1-month Euribor climbed to nearly 4%
The Turning Point (Late 2024-2025)

The most encouraging development for investors is the clear reversal beginning in late 2024. As of early 2025, all rates have begun declining:
- 1-month Euribor: 2.4% (down from ~4%)
- 12-month Euribor: 2.3% (down from >4%)
- 10-year bond: 2.8% (down from ~3.7%)
Implications for Property Investors – Our View

While the current rate decline is encouraging, we believe investors are seeing a critical inflection point. With inflation now at what we view as the lower end of its range, we see asymmetric risks tilted toward higher inflation from here. In this environment, we strongly recommend property investors lock in long-term fixed rates now. The convergence of short and long-term rates around 2.3-2.4% presents an excellent opportunity to secure predictable financing costs before potential inflation pressures push rates higher again.

The strong 11% year-over-year growth in Spanish mortgage issuance suggests the market agrees – now is the time to act on financing while rates remain historically attractive.

Historical evolution of Spanish mortgage rates and other & useful information
- The average mortgage duration is 25 years
- Only 9% of issued mortgages in Spain are more significant than 80% of the property value.
- 33% have variable interest rates (vs 37% in December 2024)
- 67% have fixed interest rates (vs 63% in December 2024)
- The average amount issued per mortgage is €156,700.
Check the evolution of the average amount issued per mortgage over the last year in Spain in our interactive chart
- How much leverage is given by banks? What is the average Loan-to-Value in Spain? (If your property value is 100%, how big will your mortgage be?) The quick answer is 64%.
- 42,831 mortgages were issued +48% vs last year.
- € 6.7 billion of mortgages issued for housing in March 2025, +65% compared to 2024.
Resources on Spanish mortgage rates

Discover the best new build projects in Spain.

New build for sale in Spain € 320,000

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Check out our latest articles on Spanish mortgage rates
All our interactive charts in this article are available in a downloadable format

The average Spanish mortgage loan-to-value ratio is 64% in 2025, recovering from recent dips but still below 2019 peaks. Data shows banks’ willingness to finance property purchases has stabilised after pandemic-era fluctuations.

Spanish banks show remarkable lending restraint in 2025, with just 8.6% of mortgages financing above 80% of property value, down sharply from 15% in 2020. This conservative approach protects the banking sector and homebuyers from overleveraging in Spain’s robust but carefully regulated property market.

Spanish Bank Financing Costs_ 10-Year Bond Yields vs. Euribor Rates (2020-2025)

Line graph showing the average size of a mortgage in Spain from 01/2019 to 05/2023, peaking sharply in early 2020 and ending at €152,000—an essential trend for those tracking Spanish mortgage rates for non-residents.

Spanish mortgage activity showed robust 11% growth in 2024, with 423,741 new loans issued against 636,909 property sales. While still below the 2022 peak, the upward trend and 67% mortgage utilization rate suggest renewed confidence in Spain’s real estate financing market after the 2023 contraction.

Line graph compares percentages of fixed and variable rate mortgages in Spain, highlighting a shift toward fixed rates around 2022. Annotations indicate inflation, interest rates, and trends in Spanish mortgage rates 2025.

Line chart showing mortgage in Spain and inflation for April 2025: Fixed rate at 3.17%, variable at 2.94%, average at 3.08%, and inflation rate at 2.30%.

Spanish mortgage durations have steadily lengthened since 2020, reaching an average of 25 years in 2025. While shorter than the 30-year standard in some countries, this represents a gradual extension of loan terms in Spain’s property market, potentially helping buyers manage monthly payments despite rising property values.

FAQ Spanish mortgage rates

How much deposit do I need for a Spanish mortgage?

For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. This means that you would need to invest at least 45% of the property value from your assets.

What is the interest rate in Spain?

As of March 2025, the average mortgage has an interest rate of 2.97%. The lowest rate ever was 2.44%, very close to the current level! The average mortgage duration is 25 years 33% have variable interest rates 67% have fixed interest rates. The average rate for variable-rate mortgages is 2.82%, and The average rate for fixed-rate mortgages is 3.05%. Read our dedicated article on that subject for more recent data.

Can foreigners get a mortgage in Spain?

Yes, foreigners can get a mortgage up to 70% of the Value of a property.

Can I get a Spanish mortgage?

It is very easy to get a mortgage in Spain. What are the documents requested? Your Passport / ID for all the applicants Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number. How do you get your NIE in Spain? What do you need to get it? Why do you need it? Last 3 paychecks with the contract of employment Proof of income/Contract A view of your assets and debts If it’s a new building: the “Deed for the new building” The private sale-purchase contract If you have a mortgage at home, land registry information on the property and the mortgage If pensioners: Official proof of annual income.

Here are the statistics for earlier years:
1. 1. - - The Spanish mortgage rates situation for December 2021
        
        Average mortgage has an interest rate of 2.53%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 24 years
        
        32% have variable interest rates
        
        68% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.08%,
        
        The average rate for fixed-rate mortgages is 2.8%,
        
        The average amount issued per mortgage is €145,500: an increase of 1.9% vs last year.
        
        32,905 mortgages were issued +23% vs last year.
        
        4,8 € Bn of mortgages issued for housing in December 2021, +32% vs last year.
        
        The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
        
        Aragon, +33% to 1.159 mortgages
        
        Extremadura, +29% to 683 mortgages
        
        The top region in terms of amounts of mortgages issued (Annual)
        
        Balears, 211m€, +116%
        
        La Rioja, 19m€, +77%
        
        Aragon, 169m€, +70%
The Spanish mortgage rates situation for October 2021
1. 1. - - Average mortgage has an interest rate of 2.48%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 24 years
        
        33% have variable interest rates
        
        67% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.11%,
        
        The average rate for fixed-rate mortgages is 2.7%,
        
        The average amount issued per mortgage is €137,900: an increase of 1.9% vs last year.
        
        33,105 mortgages were issued +67% vs last year.
        
        4,6 € Bn of mortgages issued for housing in August 2021, +70% vs last year.
The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
1. 1. - - Navarra, +77% to 510 mortgages
        
        Murcia, +7% to 1,099 mortgages
        
        Andalusia, +2% to 6,589 mortgages
The top region in terms of amounts of mortgages issued (Annual)
1. - - - Madrid, 1.2bn€, +89%
        
        Andalusia, 793m€, +89%
        
        Catalonia, 863m€, +87%
    - The Spanish mortgage rates situation for February 2021
      1. Average mortgage has an interest rate of 2.49%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 24 years
        
        47.3% have variable interest rates
        
        52.7% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.16%,
        
        The average rate for fixed-rate mortgages is 2.88%,
        
        The average amount issued per mortgage is €131,380: an decrease of 13.8% vs last year.
        
        31,647 mortgages were issued -23.1% vs last year.
        
        4,1 € Bn of mortgages issued for housing in February 2021, -29.9% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
      1. Murcia, +45% to 1007 mortgages
        
        La Rioja, +40% to 215 mortgages
        
        Valencian Community, +24% to 3600 mortgages
      The top region in terms of amounts of mortgages issued (Annual)
      1. Navarra, 54m€, +19%
        
        La Rioja, 18m€, +16%
        
        Gallicia, 116m€, +13%
    - The Spanish mortgage rates situation for January 2021
      1. Average mortgage has an interest rate of 2.47%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 24 years
        
        48.8% have variable interest rates
        
        51.2% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.17%,
        
        The average rate for fixed-rate mortgages is 2.81%,
        
        The average amount issued per mortgage is €129,003: an increase of 13.5% vs last year.
        
        27,518 mortgages were issued -31.6% vs last year.
        
        3,5 € Bn of mortgages issued for housing in January 2021, -22.4% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
      1. Navarra, +63% to 458 mortgages
        
        Balears, +27% to 643 mortgages
        
        La Rioja, +24.4% to 153 mortgages
      The top region in terms of amounts of mortgages issued (Annual)
      1. Cantabria, 40m€, +0%
        
        Catalonia, 758m€, -7%
        
        Castilla y Leon, 126m€, -9%
    - The Spanish mortgage rates situation for December 2020
      1. Average mortgage has an interest rate of 2.53%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 24 years
        
        51.6% have variable interest rates
        
        48.4% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.20%,
        
        The average rate for fixed-rate mortgages is 2.97%,
        
        The average amount issued per mortgage is €135,658: an increase of 9.2% vs last year.
        
        26,128 mortgages were issued -14.8% vs last year.
        
        3,5 € Bn of mortgages issued for housing in December 2020, -7% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
      1. Cantabria, +9.3% to 354 mortgages
        
        Extremadura, +4.8% to 551 mortgages
        
        Aragon, +0.2% to 862 mortgages
      The top region in terms of amounts of mortgages issued (Annual)
      1. Aragon, 111m€, +62%
        
        Castilla y Leon, 118m€, + 38%
        
        Galicia, 123m€, +34%
    - The Spanish mortgage rates situation for November 2020
      1. Average mortgage has an interest rate of 2.45%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 24 years
        
        52.6% have variable interest rates
        
        47.4% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.05%,
        
        The average rate for fixed-rate mortgages is 2.86%,
        
        The average amount issued per mortgage is €136,676: an increase of 5.5% vs last year.
        
        28,756 mortgages were issued +2.4% vs last year.
        
        3,9 € Bn of mortgages issued for housing inNovember 2020, +3% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
      1. Pais Vasco, +19% to 1729 mortgages
        
        Cantabria, +16% to 324 mortgages
        
        Catalonia, +15% to 4711 mortgages
      The top region in terms of amounts of mortgages issued (Annual)
      1. Castilla – La Mancha, 115m€, +32%
        
        Aragon, 97m€, +31%
        
        Galicia, 104m€, +21%
    - The Spanish mortgage rates situation for October 2020
      1. Average mortgage has an interest rate of 2.47%
        
        The lowest rate ever was 2.44% reached in Nov 2020!
        
        The average mortgage duration is 25 years
        
        51.1% have variable interest rates
        
        48.9% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.19%,
        
        The average rate for fixed-rate mortgages is 2.85%,
        
        The average amount issued per mortgage is €134,900: an increase of 4.6% vs last year.
        
        28,248 mortgages were issued -5.9% vs last year.
        
        3,8 € Bn of mortgages issued for housing in October 2020, -1.6% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
      1. Castilla y Leon, +28% to 1226 mortgages
        
        La Rioja, +26% to 179 mortgages
        
        Navarra, +21% to 332 mortgages
      The top region in terms of amounts of mortgages issued (Annual)
      1. Extremadura, 40m€, +29%
        
        Aragon, 93m€, +23%
        
        Asturias, 46m€, +19%
    - The Spanish mortgage rates situation for September 2020
      1. Average mortgage has an interest rate of 2.44%
        
        The lowest rate ever was 2.44% reached in Nov 2019!
        
        The average mortgage duration is 24 years
        
        51.5% have variable interest rates
        
        48.5% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.12%,
        
        The average rate for fixed-rate mortgages is 2.84%,
        
        The average amount issued per mortgage is €135,035: a decrease of 1% vs last year.
        
        26,878 mortgages were issued 18.4% vs last year.
        
        3,6 € Bn of mortgages issued for housing in September 2020, +17.2% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued:
      1. Madrid, +66% to 5,077 mortgages
        
        Balearic Islands, +63% to 823 mortgages
        
        Catalonia, +42.4% to 3,968 mortgages
      The top region in terms of amounts of mortgages issued
      1. Extremadura, 51m€, +220%
        
        La Rioja, 13m€, +106%
        
        Cantabria, 39m€, +106%
        
        Asturias, 55m€, +105%
    - The Spanish mortgage rates situation for August 2020
      1. Average mortgage has an interest rate of 2.49% (vs 2.54% last month)
        
        The lowest rate ever was 2.47% reached in Nov 2019!
        
        The average mortgage duration is 24 years
        
        50.6% have variable interest rates
        
        49.4% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.18%,
        
        The average rate for fixed-rate mortgages is 2.87%,
        
        The average amount issued per mortgage is €134,700: an increase of 4% vs last year.
        
        19,825 mortgages were issued -3% vs last year.
        
        3,7 € Bn of mortgages issued for housing in August 2020, +0.5% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued:
      1. Navarra, +32% to 286 mortgages
        
        Castilla – La Mancha, +15% to 981 mortgages
        
        Cantabria, +12% to 279 mortgages
      The top region in terms of amounts of mortgages issued
      1. La Rioja, 15m€, +145%
        
        Canarias, 126m€, +91%
        
        Castilla – La Mancha, 94m€, +49%
        
        Extremadura, 33m€, +34%
      1. The Spanish mortgage rates situation for July 2020
        
        Average mortgage has an interest rate of 2.54% (vs 2.49% last month)
        
        The lowest rate ever was 2.47% reached in Nov 2019!
        
        The average mortgage duration is 23 years
        
        47.5% have variable interest rates
        
        52.5% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.27%,
        
        The average rate for fixed-rate mortgages is 2.86%,
        
        The average amount issued per mortgage is €132,346: an increase of 8.9% vs last year.
        
        26,014 mortgages were issued -23% vs last year.
        
        3,4 € Bn of mortgages issued for housing in July 2020, -16% vs last year.
        
        The top 3 regions with the biggest increases for the number of mortgages issued:
        
        La Rioja, +51% to 202 mortgages
        
        Canarias, +45% to 1,221 mortgages
        
        Valencian community, +31% to 3,341 mortgages
        
        The top region in terms of amounts of mortgages issued
        
        Basque Country, 282m€, +33%
      The Spanish mortgage rates situation for June 2020
      1. Average mortgage has an interest rate of 2.5% (vs 2.49% last month)
        
        The lowest rate ever was 2.47% reached in Nov 2019!
        
        The average mortgage duration is 23 years
        
        54% have variable interest rates
        
        46% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.11%,
        
        The average rate for fixed-rate mortgages is 2.96%,
        
        The average amount issued per mortgage is €131,670: an increase of 7.5% vs last year.
        
        26,748 mortgages were issued -13% vs last year.
        
        3,5 € Bn of mortgages issued for housing in June 2020, -6% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
      1. Basque Country, +129% to 2,811 mortgages
        
        Extremadura, +79% to 562 mortgages
        
        Murcia, +59% to 798 mortgages
      The top regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Basque Country, 366m€, +95%
        
        Extremadura, 45m€, +85%
        
        Murcia, 68m€, +57%
      The Spanish mortgage rates situation in May 2020
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.49% (vs 2.48% last month)
        
        The lowest rate ever was 2.47% reached in Nov 2019!
        
        The average mortgage duration is 23 years
        
        50.5% have variable interest rates
        
        49.5% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.11%,
        
        The average rate for fixed-rate mortgages is 3%,
        
        The average amount issued per mortgage is €127,145: an increase of 3.2% vs last year.
        
        25,538 mortgages were issued -27% vs last year.
        
        3.2 € Bn of mortgages issued for housing in May 2020, -29% vs last year.
      The top regions with the biggest increases for the number of mortgages issued are (monthly changes):
      1. Andalusia, +6.8% to 5,580 mortgages
        
        Basque Country, +6.5% to 1,221 mortgages
        
        Galicia, +6.4% to 820 mortgages
      The top region in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Murcia, 56.8 M€, +22%
      The Spanish mortgage rates situation in April 2020
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.48% (vs 2.56% last month)
        
        The lowest rate ever was 2.47% reached in Nov 2019!
        
        The average mortgage duration is 24 years
        
        48.4% have variable interest rates
        
        51.6% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.13%,
        
        The average rate for fixed-rate mortgages is 2.86%,
        
        The average amount issued per mortgage is €125,300: an decrease of 1.2% vs last year.
        
        23,840 mortgages were issued -18% vs last year.
        
        3 € Bn of mortgages issued for housing in April 2020, -19% vs last year.
      The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
      1. Andalusia, +6.8% to 5,580 mortgages
        
        Basque Country, +6.5% to 1,221 mortgages
        
        Galicia, +6.4% to 820 mortgages
      The top region in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Murcia, 56.8 M€, +22%
      The Spanish mortgage rates situation in March 2020
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.56%
        
        The lowest rate ever is 2.47% reached in November 2019!
        
        The average mortgage duration is 23 years
        
        47% have variable interest rates
        
        53% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.21%,
        
        The average rate for fixed-rate mortgages is 2.92%,
        
        The average amount issued per mortgage is €127,888: an increase of 1.6% vs last year.
        
        26,382 mortgages were issued -15% vs last year.
        
        3.4 € Bn of mortgages issued for housing in March 2020, -13% vs last year.
      The top region with the biggest increases for the number of mortgages issued are (monthly changes):
      1. La Rioja, +44% to 254 mortgages
      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Aragon, 93 M€, +48%
        
        Asturias, 57 M€, +24%
        
        Cantabria, 34M€, +8%
      The Spanish mortgage rates situation in February 2020
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.64% (vs 2.55% last month)
        
        The lowest rate ever is 2.47% reached in November 2019!
        
        The average mortgage duration is 23 years
        
        62% have variable interest rates
        
        37% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.47%
        
        The average rate for fixed-rate mortgages is 3.02%
      The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
      1. Navarre, -45% to 373 mortgages
        
        Asturias, -38% to 694 mortgages
        
        Canary Islands, -31% to 1.035 mortgages
      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Catalonia, 2.378 M€, +200%
        
        Andalusia, 1.109 M€, +57%
        
        Aragon, +30%
      The Spanish mortgage rates situation in January 2020
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.55% (vs 2.53% last month)
        
        The lowest rate ever is 2.47% reached in November 2019!
        
        The average mortgage duration is 22 years
        
        58% have variable interest rates
        
        42% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.22%
        
        The average rate for fixed-rate mortgages is 3.05%
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
      1. Balearic Islands, +144% to 1.494 mortgages
        
        Asturias, +134% to 1.120 mortgages
        
        Castilla y Leon, +111% to 1.884 mortgages
      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. La Roja, 20 M€, +84%
        
        Navarre, 71 M€, +75%
        
        Balearic Islands, +74%
      The Spanish mortgage rates situation in December 2019
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.53% (vs 2.47% last month)
        
        The average mortgage rate decreased by 5% vs 1 year ago
        
        The lowest rate ever is 2.47% reached in November 2019!
        
        The average mortgage duration is 23 years
        
        56% have variable interest rates
        
        44% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.2%, 9.1% less than 1 year ago
        
        The average rate for fixed-rate mortgages is 3.06%, 2.6% more than 1 year ago
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
      1. Castilla – La Mancha, +97% to 1.952 mortgages
        
        Canary Islands, +55% to 1.824 mortgages
        
        Madrid, +23% to 6.787 mortgages
      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Castilla – La Mancha, 143 M€, +137%
        
        Madrid, 1.114 M€, +57%
        
        Canary Islands, +54%
      The Spanish mortgage rates situation in November 2019
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.47% (vs 2.5% last month)
        
        The average mortgage rate decreased by 6.1% vs 1 year ago
        
        The lowest rate ever is the current rate 2.47%!
        
        The average mortgage duration is 24 years
        
        57.3% have variable interest rates
        
        42.7% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.15%, 12.1% less than 1 year ago
        
        The average rate for fixed-rate mortgages is 3.01%, 0.3% more than 1 year ago
        
        The average amount issued per mortgage is €129,800: a decrease of 2.1% vs last year.
        
        29,416 mortgages were issued -0.5% vs last year.
        
        3.8 € Bn of mortgages issued for housing in October 2019, -0.9% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
      
      All the regions noticed a month on month decrease
      
      Here are the most noticeable regions:
      1. Extremadura, +26.4% to 526 mortgages
        
        Cantabria, +13.6% to 376 mortgages
        
        Valencia Community, +12.8% to 3614 mortgages
      The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Extremadura, 48 M€, +72%
        
        Balearic Islands, 200 M€, +37%
        
        Cantabria, 43 M€, +36%
      The Spanish mortgage rates situation in October 2019
      
      Best mortgage conditions in Spain?
      1. Average mortgage has an interest rate of 2.50% (vs 2.51% last month)
        
        The average mortgage rate decreased by 5% vs 1 year ago
        
        The lowest rate ever is the current rate 2.50%!
        
        The average mortgage duration is 24 years
        
        54.7% have variable interest rates
        
        45.3% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.09%, 11.2% less than 1 year ago
        
        The average rate for fixed-rate mortgages is 3.02%, 1.4% less than 1 year ago
        
        The average amount issued per mortgage is €129,000: a decrease of 2.1% vs last year.
        
        29,691 mortgages were issued -1.1% vs last year.
        
        3.8 € Bn of mortgages issued for housing in September 2019, -1.1% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
      
      All the regions noticed a month on month decrease
      
      Here are the most noticeable regions:
      1. La Rioja, +127% to 186 mortgages
        
        Extremadura, +92% to 416 mortgages
        
        Cantabria, +80% to 331 mortgages
      The top 5 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Madrid, 936 M€, -12%
        
        Catalonia, 788 M€, -12%
        
        Andalusia, 660 M€, +8%
        
        Valencia Community, 327 M€, +20%
        
        Basque Country, 235 M€, +20%
      The Spanish mortgage rates situation in September 2019
      1. Average mortgage has an interest rate of 2.51% (vs 2.55% last month)
        
        The average mortgage rate decreased by 3% vs 1 year ago
        
        The lowest rate ever is the current rate 2.51%!
        
        The average mortgage duration is 24 years
        
        63.4% have variable interest rates
        
        36.6% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.13%, 9.3% less than 1 year ago
        
        The average rate for fixed-rate mortgages is 3.16%, 2.5% less than 1 year ago
        
        The average amount issued per mortgage is €135,452: a increase of 5.3% vs last year.
        
        22,488 mortgages were issued -29.9% vs last year.
        
        3 € Bn of mortgages issued for housing in August 2019, -29.9% vs last year.
      The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
      1. Navarre, +50% to 328 mortgages
        
        Madrid, +47% to 4,708 mortgages
        
        Castilla La Mancha, +26% to 897 mortgages
      The top 5 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
      1. Madrid, 936 M€, -27%
        
        Catalonia, 545 M€, -28%
        
        Andalusia, 463 M€, -29%
        
        Valencian Community, 255 M€, -29%
        
        Basque Country, 203 M€, -21%
      The Spanish mortgage rates situation in August 2019
      1. Average mortgage has an interest rate of 2.55% (vs 2.56% last month)
        
        The average mortgage rate decreased by 3% vs 1 year ago
        
        The lowest rate ever is the current rate 2.55!
        
        The average mortgage duration is 23 years
        
        60.7% have variable interest rates
        
        39.3% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.21%, 3.2% less than 1 year ago
        
        The average rate for fixed-rate mortgages is 3.18%, 1.5% more than 1 year ago
        
        20,385 mortgages were issued -29.9% vs last year.
        
        The average amount issued per mortgage is €128,501: a increase of 5% vs last year.
        
        2,6 € Bn of mortgages issued for housing in August 2019, -29.9% vs last year.
      The top 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
      1. La Rioja, -72% to 74 mortgages
        
        Extremadura, -57% to 279 mortgages
        
        Castilla La Mancha, -53% to 714 mortgages
      The top 3 regions with the biggest decreases in terms of amounts of mortgages issued are (yearly change):
      1. La Rioja, -65% to 6m issued
        
        Extremadura, -56% to 23m issued
        
        Canariasa, -45% to 66m issued
      The Spanish mortgage rates situation in July 2019
      1. Average mortgage has an interest rate of 2.56% (vs 2.57% last month)
        
        The average mortgage rate decreased by 1.2% vs 1 year ago
        
        The lowest rate ever is the current rate 2.56!
        
        The average mortgage duration is 23 years
        
        58.1% have variable interest rates
        
        41.9% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.14%, 7.3% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.16%, 2.8% less than 1 year ago,
        
        The average amount issued per mortgage is €121,414: a decrease of 2,5% vs last year.
        
        33,344 mortgages were issued +13.1% vs last year.
        
        6,3 € Bn of mortgages issued for housing in July 2019, +15.2% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      
      For a first time since long, all the regions suffer a month on month negative growth. The one with the smallest decreases are
      1. La Rioja, +79.3% to 269 mortgages
        
        Castilla La Mancha, +44% to 1,508 mortgages
        
        Asturias, +37% to 671 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. Extremadura, +45.9% to 652 mortgages
        
        Castilla La Mancha, +38% to 1,508 mortgages
        
        Castilla y Leon, +33.9% to 1,430 mortgages
      The Spanish mortgage rates situation in June 2019
      1. Average mortgage has an interest rate of 2.57% (vs 2.62% last month)
        
        The average mortgage rate decreased by 3% vs 1 year ago
        
        The lowest rate ever is 2.57!
        
        The average mortgage duration is 24 years
        
        55.5% have variable interest rates
        
        44.5% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.29%, 6.1% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.01%, 1.3% less than 1 year ago,
        
        The average amount issued per mortgage is €119,964: a increase of 3,7% vs last year.
        
        29,900 mortgages were issued -2.5% vs last year.
        
        3,6 € Bn of mortgages issued for housing in May 2019, -6.1% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      
      For a first time since long, all the regions suffer a month on month negative growth. The one with the smallest decreases are
      1. Region of Murcia, -2.6% to 824 mortgages
        
        Community of Navarra, -4.5% to 383 mortgages
        
        Basque country, -5.2% to 1,703 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. Community of Valencia, +16.9% to 3,748 mortgages
        
        Region of Murcia, +12% to 824 mortgages
        
        Basque country, +9.3% to 1,703 mortgages
      The Spanish mortgage rates situation in May 2019
      1. Average mortgage has an interest rate of 2.59% (same as last month)
        
        The average mortgage rate decreased by 2.9% vs 1 year ago
        
        The lowest rate ever is 2.57!
        
        The average mortgage duration is 24 years
        
        56.8% have variable interest rates
        
        43.2% have fixed interest rates (+6.7% vs last year)
        
        The average rate for variable rate mortgages is 2.3%, 5.1% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.09%, 1.8% less than 1 year ago,
        
        The average amount issued per mortgage is €124,700: a increase of 3.9% vs last year.
        
        29,032 mortgages were issued -0.1% vs last year.
        
        3.6 € Bn of mortgages issued for housing in April 2019, +0.6% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      1. Community of Navarra, +45.3% to 510 mortgages
        
        Aragon, +19.7% to 814 mortgages
        
        Asturias, +11.9% to 556 mortgages
      The Spanish mortgage rates situation in March 2019
      1. Average mortgage has an interest rate of 2.62% (same as last month)
        
        The average mortgage rate decreased by 2.3% vs 1 year ago
        
        The lowest rate ever is 2.57!
        
        The average mortgage duration is 24 years
        
        58.1% have variable interest rates
        
        41.9% have fixed interest rates (+24.5% vs last year)
        
        The average rate for variable rate mortgages is 2.34%, 2.7% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.11%, 1.6% more than 1 year ago,
        
        The average amount issued per mortgage is €125,341: a increase of 3.9% vs last year.
        
        30,716 mortgages were issued + 9.2% vs last year.
        
        3.8 € Bn of mortgages issued for housing in March 2019, +20.3% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      1. The Balearic Islands, +47% to 1,159 mortgages
        
        Andalusia, +17% to 6,069 mortgages
        
        Extremadura, +14% to 503 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. The Balearic Islands, +49% to 1,159 mortgages
        
        Extremadura, +36% to 503 mortgages
        
        Murcia, +31% to 503 mortgages
      The Spanish mortgage rates situation in February 2019
      1. Average mortgage has an interest rate of 2.62% (vs 2.57% last month)
        
        The average mortgage rate decreased by 1.1% vs 1 year ago
        
        The current rate: 2.62% is close to the lowest rate ever of 2.57!
        
        The average mortgage duration is 23 years
        
        58.2% have variable interest rates
        
        41.8% have fixed interest rates (+17.4% vs last year)
        
        The average rate for variable rate mortgages is 2.37%, 4% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.05%, 0.4% more than 1 year ago,
        
        The average amount issued per mortgage is €123,911: a increase of 2.9% vs last year.
        
        31.018 mortgages were issued + 9.2% vs last year.
        
        3.8 € Bn of mortgages issued for housing in February 2019, +12.3% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      
      After a seasonally slower December, January looks even stronger vs December:
      1. Asturias, +24.9% to 728 mortgages
        
        Catalonia, +8.4% to 5.448 mortgages
        
        Pais Vasco, + 2.9% to 1.713 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. Asturias, +56% to 728 mortgages
        
        Castilla – La Mancha, +43% to 1.321 mortgages
        
        La Rioja, + 39% to 241 mortgages
      The 6 regions with the biggest growth on the full year 2018
      1. The Valencian Community, +15.7% to 38.004 mortgages
        
        The Community of Madrid, +14.9% to 65.503 mortgages
        
        Castilla – La Mancha, +14.8% to 12.501 mortgages
        
        La Rioja, +13.5% to 2.332 mortgages
        
        The Community of Navarre, +13.4% to 4.615 mortgages
        
        Catalonia, +13% to 57.477 mortgages
        
        Extremadura, +12.3% to 5.550 mortgages
      The 4 most active regions in 2018
      
      No surprises, we keep the same regions as the most active ones in terms of transactions:
      1. The Community of Madrid, 65.503 mortgages with a growth of 14.9%
        
        The Andalusia, 65.431 mortgages with a growth of 8.6%
        
        Catalonia, 57.477 mortgages with a growth of 14.9%
        
        The Valencian Community, 38.004 mortgages with a growth of 15.7%
      The Spanish mortgage rates situation in January 2019
      1. Average mortgage has an interest rate of 2.57% (vs 2.62% last month)
        
        The average mortgage rate decreased by 4.3% vs 1 year ago
        
        The current rate: 2.57% is the lowest rate ever!
        
        The average mortgage duration is 22 years
        
        62.8% have variable interest rates
        
        37.2% have fixed interest rates (+9.1% vs last year)
        
        The average rate for variable rate mortgages is 2.32%, 8% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.09%, 1.6% more than 1 year ago,
        
        The average amount issued per mortgage is €121,036: a decrease of -0.7% vs last year.
        
        36.832 mortgages were issued + 22.5% vs last year.
        
        4.4 € Bn of mortgages issued in January 2019, +21.6% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      
      After a seasonally slower December, January looks even stronger vs December:
      1. Madrid Community, +168% to 10.478 mortgages
        
        Castilla – La Mancha, +101% to 1.485 mortgages
        
        Extremadura, + 76% to 542 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. Madrid Community, +105% to 10.478 mortgages
        
        Castilla – La Mancha, +25% to 1.485 mortgages
        
        Aragón, + 17% to 910 mortgages
      The Spanish mortgage rates situation in December 2018
      1. Average mortgage has an interest rate of 2.62% (vs 2.61% last month)
        
        The average mortgage rate decreased by 3.9% vs 1 year ago
        
        The lowest rate ever is 2.57%!
        
        The average mortgage duration is 24 years
        
        58.6% have variable interest rates
        
        41.4% have fixed interest rates (+9.1% vs last year)
        
        The average rate for variable rate mortgages is 2.42%, 4.7% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 2.98%, 4.8% less than 1 year ago,
        
        The average amount issued per mortgage is €126,394: an increased of 9.4% vs last year.
        
        20.933 mortgages were issued + 0.9% vs last year.
        
        2.6 € Bn of mortgages issued in December 2018, +10.4% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      
      All the regions had a negative growth. Of course December is well known for being less busy all over the world.
      
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. The Basque Country, +20.1% to 1.333 mortgages
        
        The Valencian Community, +17.3% to 2.456 mortgages
        
        Catalonia, +12% to 3.390 mortgages
      The Spanish mortgage rates situation in November 2018
      1. Average mortgage has an interest rate of 2.61% (vs 2.57% last month)
        
        The average mortgage rate decreased by 5.7% vs 1 year ago
        
        The lowest rate ever is 2.57%!
        
        The average mortgage duration is 23 years
        
        64% have variable interest rates
        
        36% have fixed interest rates (+25.9% vs last year)
        
        The average rate for variable rate mortgages is 2.42%, 0.7% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.07%, 14.1% less than 1 year ago,
        
        The average amount issued per mortgage is €130,651: an increased of 5.5% vs last year.
        
        28.835 mortgages were issued + 14.2% vs last year.
        
        5.6 € Bn of mortgages issued in November 2018, +13.7% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      1. The Canary Islands, +39.4% to 1.299 mortgages
        
        The Balearic Islands, +17.8% to 899 mortgages
        
        Asturies, +4.7% to 532 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. The Canary Islands, +28.6% to 1.299 mortgages
        
        Catalonia, +25% to 5.363 mortgages
        
        The Valencian Community, +24.4% to 3.178 mortgages
      The Spanish mortgage rates situation in October 2018
      1. Average mortgage has an interest rate of 2.57% (vs 2.59% last month)
        
        The average mortgage rate decreased by 4.3% vs 1 year ago
        
        The lowest rate ever is 2.57%! YES, the current rate!
        
        The average mortgage duration is 24 years
        
        60.4% have variable interest rates
        
        39.6% have fixed interest rates (+25.9% vs last year)
        
        The average rate for variable rate mortgages is 2.43%, 2.9% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 2.99%, 3.7% less than 1 year ago,
        
        The average amount issued per mortgage is €126,926: an increased of 4.6% vs last year.
        
        30.356 mortgages were issued + 20.4% vs last year.
        
        5.8 € Bn of mortgages issued in October 2018, +13.9% vs last year.
      The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      1. Navarra Community, +21.6% to 472 mortgages
        
        Catalonia, +10.7% to 5.808 mortgages
        
        Castilla y Leon, +4.8% to 1.153 mortgages
      The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. Navarra Community, +53.7% to 472 mortgages
        
        Catalonia, +40.7% to 5.808 mortgages
        
        Aragon, +36.8% to 729 mortgages
      The Spanish mortgage rates situation in September 2018
      1. Average mortgage has an interest rate of 2.59% (vs 2.62% last month)
        
        The average mortgage rate decreased by 8.3% vs 1 year ago
        
        The lowest rate ever is 2.59%!
        
        The average mortgage duration is 24 years
        
        59.9% have variable interest rates
        
        40.1% have fixed interest rates (+16.7% vs last year)
        
        The average rate for variable rate mortgages is 2.36%, 10.8% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.02%, 5.9% less than 1 year ago,
        
        The average amount issued per mortgage is €127,732: an increased of 4.1% vs last year.
        
        32.457 mortgages were issued + 9.5% vs last year.
        
        6.6 € Bn of mortgages issued in September 2018, +10% vs last year.
      The top 4 regions with the biggest growth for the number of mortgages issued are (monthly changes):
      1. Valencian Community, +32.5% to 3.863 mortgages
        
        Madrid, +30.6% to 6.530 mortgages
        
        Murcia, +21.5% to 866 mortgages
        
        Catalonia, +18.4% to 5.246 mortgages
      The top 4 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
      1. La Rioja, +123%
        
        Extremadura, +54%
        
        The community of Navarre, +37%
        
        Madrid, +28%
      The Spanish mortgage rates situation in August 2018
      1. Average mortgage has an interest rate of 2.62% (vs 2.59% last month)
        
        The average mortgage rate decreased by 4.3% vs 1 year ago
        
        The lowest rate ever is 2.59%!
        
        The average mortgage duration is 24 years
        
        59.8% have variable interest rates
        
        40.2% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.43%, 5.5% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 2.99%, 3.1% less than 1 year ago,
        
        The average amount issued per mortgage stands at €122,424, an increased of 9.8% vs last year.
        
        28.755 mortgages were issued + 6.8% vs last year.
        
        5.4 € Bn of mortgages issued in August 2018, +11% vs last year.
      The top 4 regions with the biggest growth for the number of mortgages issued are:
      1. Extremadura, +31% to 604 mortgages
        
        The Canary Islands, +19,6% to 1.396 mortgages
        
        Cantabria, +16,4% to 326 mortgages
        
        Madrid, +13,9% to 5.000 mortgages
      The top 4 regions with the biggest growth in terms of amounts of mortgages issued are:
      1. Extremadura, +61%
        
        Madrid, +29%
        
        Andalusia, +28%
        
        Basque country, +24%
      The Spanish mortgage rates situation in July 2018
      1. Average mortgage has an interest rate of 2.59% (vs 2.63% last month)
        
        Average mortgage rate decreased by 6.3% vs 1 year ago
        
        The lowest rate ever is 2.59%! YES, the current rate reached this month!
        
        Mortgage duration is 22 years
        
        62.3% have variable interest rates
        
        37.7% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.32%, 7.3% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.07%, 5.7% less than 1 year ago,
        
        The average amount issued per mortgage stands at €125,120, an increased of 2.1% vs last year.
        
        29.287 mortgages were issued + 14.6% vs last year.
        
        3.6 € Bn of mortgages issued in July 2018, +17% vs last year.
      The top 4 regions with the biggest growth for the number of mortgages issued:
      1. Extremadura, +38.9% to 457 mortgages.
        
        The Valencian Community, +28.1% to 3.276 mortgages
        
        La Rioja, +28.1% to 283 mortgages
        
        Madrid, +27,5% to 5.713 mortgages
      The top 4 regions with the biggest growth in terms of amounts of mortgages issued:
      1. La Rioja, +77.3%
        
        The region of Murcia, +43%
        
        Cantabria, +39.8%
        
        The Valencian Community, +39%
      The Spanish mortgage rates situation in June 2018
      1. Average mortgage has an interest rate of 2.63%
        
        Average mortgage rate decreased by 6.8% vs 1 year ago
        
        The lowest rate ever is 2.62% reached in March 2018
        
        Mortgage duration is 23 years
        
        62.9% have variable interest rates
        
        37.1% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.19%, 11.3% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.25%, 0.5% more than 1 year ago,
        
        The average amount issued per mortgage stands at €123,896, an increased of 5.1% vs last year.
        
        30.600 mortgages were issued + 3.9% vs last year.
      The top 3 regions with the biggest mortgages growth:
      1. Madrid, +23,2% to 6.399 mortgages,
        
        Aragon, +10.6% to 957 mortgages,
        
        Extremadura, +18.4% to 616 mortgages.
      The Spanish mortgage rates situation in May 2018
      1. Average mortgage has an interest rate of 2.63%
        
        Average mortgage rate decreased by 4.3% vs 1 year ago
        
        The lowest rate ever was 2.62% in March 2018
        
        Mortgage duration is 22 years
        
        61.9% have variable interest rates
        
        38.1% have fixed interest rates
        
        The average rate for variable rate mortgages is 2.4%, 9.8% less than 1 year ago,
        
        The average rate for fixed-rate mortgages is 3.12%, 6.6% more than 1 year ago,
        
        The average amount issued per mortgage stands at €117,044, an increased of 2.8% vs last year.
        
        31.166 mortgages were issued + 7.3% vs last year.
      While the top 4 regions in terms of annual growth were:
      1. The Canary Islands, +70,9% to 1.984 mortgages,
        
        Extremadura, +18.5% to 570 mortgages,
        
        Pais Vasco, +18.4% to 1.783 mortgages,
        
        Navarra, +17.3% to 441 mortgages
      Check the Spanish report from the INE.
      
      Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!
      
      Stéphane
      
      Senior analyst and strategist at HTBIS
      
      Check the full HTBIS team here

The post What are the best Spanish mortgage rates? June 2025 update appeared first on How to buy in Spain.

How do I choose between fixed and variable rates for a mortgage on my Spanish property?

STEPHANE — Tue, 20 May 2025 04:01:47 +0000

Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

How do I choose between fixed and variable rates for a mortgage?

Should I take a mortgage with fixed or variable rates?

Fixed-rate mortgages and variable-rate mortgages are the two main categories of mortgages you can pick. Of course, there are many other possibilities between the two.
Why would you take a fixed-rate mortgage?

A Fixed rate mortgage has the advantage that whatever the market conditions will do in the future, it will remain the same. To get that advantage, you will on average pay a higher rate than on a variable-rate mortgage, for instance, as of May 2025, mortgages with variable rates are issued at rates of 2.9% while those with fixed rates are issued with 3.0% for an average length of 24 years.

As we are writing, May 2025, Inflation rate has stabilized in Spain: the level as of May 2025 is 2.5%.
Why would you take a mortgage with a variable rate?

It could be because it is less expensive and because you don’t see inflation or rates going higher or because you are comfortable financially and can face higher rates. Another reason for variable rates to be lower is that for the banks issuing them, it matches their sources of funds (saving’s accounts).

So, to sum up, if you want safety, take a fixed-rate mortgage. If you see inflation spiking or interest rates going higher (in general due to a strong economy) you could as well go for a fixed-rate mortgages. Of course, the longer your mortgage is the higher your risk will be.
Don’t hesitate to ask to your Spanish mortgage broker a pricing with both and compare both offers.
May 2025 update

After the dramatic changes seen in recent years, the mortgage market has stabilized significantly. While in 2021-2022 we saw a sharp increase in fixed-rate mortgages due to inflation concerns, the trend has now moderated as of May 2025. Currently, 64% of mortgages are issued with fixed rates, a slight decrease from the 75% peak we saw in late 2021. This reflects increased confidence in economic stability and normalized inflation expectations.

Check the evolution of the percentage of mortgages with fixed and with variable rates
Are fixed mortgage rates less expensive than variable mortgage rates?

As of May 2025, the gap between fixed and variable mortgage rates has narrowed significantly. Fixed rates are currently averaging 3.0%, while variable rates average 2.9%, making the difference minimal at just under 0.4 percentage points. This is a dramatic change from the 0.5-0.7 percentage point gap we saw during the high inflation period of 2021-2022.

Check the evolution of the mortgage rates (average, fixed and variable )over the last year
Our other resources on “Spanish mortgage rates”
- Your definitive guide to your Spanish mortgage
- Our ultimate mortgage calculator

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Are you looking for a property lawyer in Spain? Follow the link and get one of our local lawyers. Looking for another real estate expert in Spain: Mortgage, Insurance, Survey of property, Property hunting, …? Contact one of our 100+ local partners!

Stéphane, Senior analyst and strategist at HTBIS

Stéphane, with over 20 years of experience in real estate, finance, and entrepreneurship, is the co-founder of www.howtobuyinspain.com. With an extensive network of local partners in Spain, his deep commitment to the real estate sector, strong analytical skills, and a problem-solving mentality have fueled his success. Constantly eager to learn and passionate about teaching, Stéphane believes in the power of knowledge-sharing to master any subject.

Check the entire HTBIS team here

The post How do I choose between fixed and variable rates for a mortgage on my Spanish property? appeared first on How to buy in Spain.

Mortgage rates in Spain for non residents: April 2025 update

STEPHANE — Tue, 21 Jan 2025 17:58:13 +0000

Click on any flag to get an automatic translation from Google Translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

Mortgage rates for non-residents: Spain’s position in the European landscape

Here is our update of January 2025 with the last available data (November 2024) on Spanish mortgage rates for non-residents from the European Central Bank

One question we get from our customers nearly daily is: How expensive are the mortgage rates in Spain vs other European countries?

So, we were due to do some work on that and here is the result. At the same time, we took the opportunity to increase our databases, and this article will be updated later. Please note that all the charts are interactive and, whenever we update our database, the charts will be updated.

Thanks to our network of local partners, we get the best mortgage rates in Spain if you want to finance your home in Spain. Take 30 seconds to fill this quick form to get the best Spanish mortgage rates as a non-resident.

Mortgage rates in Spain for non-residents: our 2-minute video

Would you like to watch this video in your language? Click on the bottom right of the video on “cc” to get subtitles in your language.
Navigating the Mortgage process as a non-resident in Spain

While many international buyers prefer to purchase their Spanish second home outright with cash, this approach might not always be the most strategic. Even if you have the means for an all-cash transaction, considering a mortgage could unlock a suite of financial benefits. From diversifying your investments and increasing liquidity to optimizing tax efficiencies, the advantages are compelling. Intrigued? We invite you to journey with us through the upcoming sections, where we’ll unveil the nuanced benefits of leveraging a mortgage for your property in Spain—a decision that could redefine your financial strategy.

Securing a mortgage in Spain as a non-resident is a feasible endeavour, though it does come with its unique set of challenges and considerations. Given that the majority of your assets are likely situated outside of Spain, Spanish banks will meticulously evaluate both your personal financial profile and the property in question to mitigate their risk exposure. Generally speaking, the terms offered to non-residents may be more conservative compared to those available to residents. This often translates to less favourable interest rates, stricter borrowing criteria, and a reduced loan-to-value ratio, meaning you might need to provide a larger down payment. Additionally, the process might involve more comprehensive documentation and a longer evaluation period to thoroughly assess the viability of extending credit under these circumstances. Understanding these nuances and preparing accordingly can smooth the path to acquiring your Spanish property.
Comparing Spanish Mortgage rates with European averages

Spanish vs. European Real Estate financing

Thanks to the detailed database of the European Central Bank that we could import, we could run a thorough analysis of mortgage conditions for all the European countries vs Spain. Before jumping on detailed statistics on different mortgage solutions we looked at general conditions for mortgage rates both in Europe and in Spain.
All Mortgages issued in Spain in November 2024 had an average interest rate of 3.04% (vs 3.1% in January 2023) while all mortgages issued in Europe had an average interest rate of 3.44% for the same period (vs 3.19% in Spain in January 2023).

The chart below clearly demonstrates a strong correlation between Spanish mortgage rates and their European counterparts. Both datasets, meticulously compiled by the European Central Bank, serve to monitor financial trends across the region. Historically, from November 2014 to April 2022, Spanish mortgage rates were consistently higher than the European average, marking a more expensive borrowing climate within Spain. During this timeframe, the average Spanish mortgage rate stood at 2.02%, in contrast to the slightly lower European rate of 1.87%, indicating a notable 0.15% disparity that disadvantaged both the Spanish property market and prospective homeowners.

Spanish mortgage rates are cheaper than European ones

A new trend started in 2022

However, the trend reversed post-April 2022, as Spanish mortgage rates began to align with or dip below the European average. As of November 2024, the most recent data point at the time of this analysis, the average mortgage rate in Spain had settled at 3.04%, marginally below the European average of 3.44%.

This shift represents a significant 0.40% advantage, benefiting both the Spanish real estate market and its investors: Spaniards and foreigners, and reflects a notable improvement in the affordability and attractiveness of Spanish mortgages relative to the broader European landscape.

Now that we analyzed all the mortgages issued in both Europe and Spain, it is time to compare rates for different mortgage solutions. As you know mortgage rates are separated in two big categories:
- fixed rates mortgages, mostly mortgages that will keep the same rate over the full mortgage length, usually between 10 and 25 years,
- variable rates mortgages, mortgages that will change rates over the life of the mortgage (monthly, yearly, or every five years)
In the following analysis, we will delve further into the nuances of four distinct mortgage categories: variable-rate mortgages, fixed-rate mortgages with terms of 1-5 years, those spanning 5-10 years, and fixed-rate mortgages with a term of 10 years. Notably, variable-rate and 10-year fixed-rate mortgages stand out as the most popular choices among individuals financing their home purchases, both across Europe and specifically within Spain. This comparison aims to illuminate the characteristics and trends that define each category, providing a comprehensive overview of the Spanish mortgage landscape.

Here are all the evolutions and a quick analysis for each:

Variable Mortgage rates: Spain vs Europe showdown

As you can see on the chart, Spanish mortgage rates since April 2022 were nearly always cheaper than mortgages in Europe, as of November 2024, they are cheaper by 0.40%.

1-5 years fixed Mortgage rates face-off: Spain vs Europe

As you can see on the chart, Spanish mortgage rates with fixed rates between 1 and 5 years are one of the only Spanish mortgage rates for which you will pay more than in other European countries, on average, as of November 2024, you will pay 0.21% more.

5-10 years fixed Mortgage Rates: Spain vs Europe head-to-head

As you can see on the chart, fixed Spanish mortgage rates (5 to 10 years) were nearly always more expensive in Spain than in other European countries. Interestingly, as of November 2024, Spanish mortgage rates trade close to the European average, i.e. no more premium as in the past.

10-Year fixed Mortgage rates in Spain versus Europe

As you can see on the chart, Spanish mortgage rates since March 2022 are cheaper than mortgages in other European countries, as of November 2024, they are cheaper by 0.36%. This is very good news for real estate buyers in Spain.

At the end of this article, we provide a precise comparison between mortgages issued in different European countries and Spain, have a look at where your home country is!

Read more on the subject: What are the best Spanish mortgage rates?
Key factors behind the advantageous Spanish Mortgage rates

Thanks to our detailed update, now you know that the Spanish mortgage market is experiencing a confluence of positive factors that set it apart from other European counterparts:
- Spanish property values remain attractively priced when juxtaposed with other European real estate markets, presenting a compelling value proposition and a lower risk for lending banks, just contrary to what we had in 2008,
- The Spanish economy exhibits resilience and robustness, outpacing the broader European economic performance, which instils confidence in both domestic and international investors,
- The impact of energy price fluctuations has been mitigated effectively in Spain since the escalation of geopolitical tensions in Ukraine, contributing to a more stable cost of living and operating environment,
- Spain’s inflation has consistently been lower than the European average, preserving purchasing power and contributing to the overall economic stability,
- The Spanish real estate sector is characterized by its prudence and lack of speculative excess, evident in the modest percentage of transactions involving mortgages (66%) and the conservative loan-to-value ratio averaging 60%. This reflects a healthy level of leverage and risk appetite in the market.
- The strength of the general economy in Spain suggests that Spanish banks are in a sound financial position, enabling them to offer attractive financing options without resorting to aggressive lending practices. This financial stability is likely to support continued favourable mortgage rates.
These elements collectively create a conducive environment for the advantageous spread in Spanish mortgage rates, underscoring the market’s resilience and appeal to a broad spectrum of investors. Additionally, the prudent regulatory framework and proactive fiscal policies may further bolster the market’s attractiveness, potentially leading to sustained growth and stability in the Spanish real estate sector.

Why Spanish mortgage rates are less expensive than in other European countries?
What are the advantages of obtaining a Mortgage in Spain as a non-resident?

Increase the return on your Spanish property investment

The main advantage of buying a property in Spain, is that current real estate levels are not crazy if you compare those to other European countries.
Read more on the subject: What return will you make on your Spanish property?

Even with current mortgage rates, getting a mortgage is easier than getting a loan for something else as a person as the bank has the property as collateral. So, while we always encourage our customers to manage risks and don’t overleverage, getting a mortgage before buying a property is in our mind a wise way to diversify your financial assets.
Last but not least, but depending on your home country, real estate assets could be less taxed than other financial assets.

Diversify your investments

By taking a mortgage, you can decrease your risks by keeping some funds for other investments.

Potential tax benefits and how to maximize them

Buying a property with a mortgage can give you some real tax benefits if you put your property on the rental market afterwards as a “Buy to let” or an investment property. Ask our tax advisors for more on that.

Advantages of Spanish mortgage rates for UK residents

In the mortgage landscape, UK banks are known to promote variable-rate mortgages, nudging customers towards options that fluctuate with the market, despite the inherent uncertainty in future repayments. Meanwhile, Spanish banks are more accommodating of fixed-rate mortgages, offering borrowers the chance to lock in a stable and predictable payment schedule throughout the loan term, contrasting with the UK’s bank-driven preference for variable rates.

Spanish mortgage rates for US residents

In the US mortgage market, fixed-rate mortgages are predominant, offering long-term stability with terms commonly set at 30 years, allowing homeowners to lock in rates for the duration of their loan. This contrasts with the Spanish market, where, despite a growing preference for fixed-rate options, mortgages typically have shorter terms and the market historically leaned more towards variable rates, influenced by the Euribor. Additionally, the US market is characterized by its diversity in loan products and a more developed secondary market for mortgages, which enhances liquidity and flexibility in terms and conditions, unlike Spain, where the market is more traditional and less varied in its offerings.

Benefits for a non-resident of financing his property in Spain with a mortgage.
How to get the best mortgage rate as a non-resident in Spain?

Have the best customer profile for the Spanish bank

Here are some insights into what constitutes an attractive customer profile for securing a mortgage:
- Employment and stability: Ideal candidates are employed with a stable and substantial income.
- Creditworthiness: A favourable credit history with minimal debts relative to income is crucial.
- Debt management: A healthy debt-to-income ratio below 35. This means that monthly net income would be at least three times greater than debt repayments.
- Property value: 1/ The chosen property should hold strong resale potential. 2/It should be priced appropriately within the current market. 3/It should be in a location with consistent demand.
- Geographic consideration: Applicants from OECD countries are often preferred due to stringent anti-money laundering regulations across Europe. Being an EU resident simplifies the process further.
- Maximum loan amounts for non-residents: Spanish banks would like to keep that under control
Don’t take a too big mortgage compared to the property value

As a non-resident, you’re eligible to secure a mortgage for your second home or investment property. Given that your assets are not located in Spain, banks will require guarantees and generally cap the loan-to-value (LTV) ratio at 70%. The LTV ratio represents the portion of the property’s pre-tax value that can be financed through a mortgage. This percentage serves as a general guideline. Feel free to request a complimentary consultation from our mortgage broker, who is well-versed in the process and familiar with Spanish banks that are favourable towards foreign clients. The lower this ratio is, the lower the risk for the bank and the better rate for your mortgage.

How to get the best rates as a non-resident.
Useful considerations for your Spanish mortgage as a non-resident

Processing time for Mortgage applications

On average, mortgages are processed quickly but keep in mind, that you need to prepare a full file so the bank can establish your credit profile. Our partner will work on that with you. Don’t worry.

Higher interest rates and reduced loan amounts for non-residents

In general, foreigners will get slightly less good conditions than Spaniards for their mortgages. This is normal as foreigners don’t have all their financial assets and incomes based in Spain. With a good credit profile and a reasonable loan to value, our customers get nice quotes.

NIE number for non-residents

Acquiring an NIE number is a fundamental step for non-residents looking to navigate the property and mortgage landscape in Spain. This identifier serves as your tax identification number. It is essential for a variety of legal and financial transactions, including the purchase of property and the application for a mortgage. Fortunately, obtaining an NIE is a straightforward process. Your legal representative can handle on your behalf, should time constraints be an issue. For a detailed guide on acquiring your NIE and its importance, we invite you to explore our comprehensive article: Your Spanish NIE number, and how to get it..

Useful considerations for a non-resident to get a Spanish mortgage
Comparing Mortgage rates in Spain vs. selected European countries

Before checking the evolutions of the mortgage conditions between Spain and a few countries, let’s have a look at what is the current situation as of November 2024. Here is the evolution of the different European markets sorted alphabetically, as a reminder, Spanish mortgage rates and European mortgage rates were at 3.04% and 3.44% respectively as of the end of November 2024.

European mortgage rates November 2024 leaderboard
- Belgian mortgage rates are issued with a 3.19% rate on average in November 2024
- Dutch mortgage rates are issued with a 3.71% rate on average in November 2024
- Finnish mortgage rates are issued with a 3.31% rate on average in November 2024
- French mortgage rates are issued with a 3.17% rate on average in November 2024
- German mortgage rates are issued with a 3.59% rate on average in November 2024
- Irish mortgage rates are issued with a 3.94% rate on average in November 2024
- Italian mortgage rates are issued with a 3.69% rate on average in November 2024
- Luxembourg’s mortgage rates are issued with a 3.29% rate on average in November 2024
- Portuguese mortgage rates are issued with a 3.04% rate on average in November 2024
Here is the same information presented in a column chart:

Belgian mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Spanish mortgage rates and Belgian mortgage rates are close to each other in November 2024. As of November 2024, Belgian mortgage rates were issued at 3.19%, 0.15% higher than Spanish mortgages.

Dutch mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Spanish mortgage rates and Dutch mortgages are more expensive than Spanish mortgage rates by 0.67%. In November 2024, Dutch mortgage rates were sold at 3.71%.

Finnish mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Spanish mortgage rates since March 2022 are cheaper than mortgages in Finland, as of November 2024, they are cheaper by 0.27%. This is very good news for real estate buyers in Spain. In November 2024, Finnish mortgage rates were sold at 3.31%.

French mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, French mortgages are little bit more expensive than Spanish mortgage rates in November 2024. They trade at 3.17%

German mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, as of November 2024, Spanish mortgage rates are cheaper by 0.55% than German mortgage rates. This is very good news for real estate buyers in Spain. In November 2024, German mortgage rates were sold at 3.59%.

Irish mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Irish mortgages are much more expensive than Spanish mortgages. As you will surely know, the Irish real estate market rebounded strongly and is one of the hottest markets in Europe even with those higher rates. In November 2024, Irish mortgage rates were trading at 3.94%, 0.9% higher than Spanish mortgage rates.

Italian mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Italian mortgages are much more expensive than Spanish mortgages. In November 2024, Italian mortgage rates were trading at 3.23%, 0.19% higher than Spanish mortgage rates.

Luxembourg mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Luxembourg mortgages are much more expensive than Spanish mortgages. In November 2024, Italian mortgage rates were trading at 3.69%, 0.65% higher than Spanish mortgage rates. As you know probably, the Luxembourg real estate market has a very high valuation and we could see this as banks being prudent or instructed by the European Central Bank to be prudent.

Portuguese mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

As you can see on the chart, Portuguese mortgages are much more expensive than Spanish mortgages. In November 2024, Portuguese mortgage rates were trading at 3.29%, 0.25% higher than Spanish mortgage rates. The Portuguese real estate market had a nice run too and we could see some caution from Portuguese banks.
Further readings
- Read more on current financing conditions in Spain with our detailed article: What are the best Spanish mortgage rates?
- Hesitating between fixed or variable rates on your mortgage (in Spain or elsewhere) have a look at our detailed insights: How do I choose between fixed and variable rates for a mortgage?
- Last but not least don’t miss our detailed ultimate guide to your Spanish mortgage
- If you need a mortgage pricer for your Spanish mortgage, check our article for more.

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane
Senior analyst and strategist at HTBIS

Stéphane, with over 20 years of experience in real estate, finance and entrepreneurship, is the co-founder of www.howtobuyinspain.com. With an extensive network of local partners in Spain, his deep commitment to the real estate sector combined with strong analytical skills and a problem-solving mentality have fueled his success. Constantly eager to learn and passionate about teaching, Stéphane believes in the power of knowledge sharing to master any subject.

Check the full HTBIS team here

Are Spanish mortgage rates more expensive? FAQ

Are mortgage rates in Spain higher than in other European countries?

As of November 2024, the average mortgage rate in Spain was 3.7%, slightly below the European average of 3.87%. This indicates a competitive edge for Spain in terms of borrowing costs.

What makes Spanish mortgage rates competitive compared to other European countries?

Factors such as robust Spanish economic performance, controlled energy prices, low inflation rates, conservative real estate market leverage, and strong banking sector contribute to the favorable mortgage rates in Spain.

How do Spanish mortgage rates compare with specific European countries like France or Italy?

In November 2024, Spanish mortgage rates were lower than many European countries, including Italy (3.98%) and slightly higher than France (3.59%), making Spain an attractive market for real estate investment.

Can foreign investors benefit from Spain's mortgage rates when buying property?

Yes, foreign investors can take advantage of Spain's competitive mortgage rates, which, combined with the country's stable economy and attractive property prices, make it an ideal location for real estate investment.

Downloadable Charts

The post Mortgage rates in Spain for non residents: April 2025 update appeared first on How to buy in Spain.

Is it easy to get a Spanish mortgage as a foreigner in a post-Covid-19 world?

STEPHANE — Wed, 02 Feb 2022 20:26:07 +0000

Click on any flag to get an automatic translation from Google translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

Is it easy to get a Spanish mortgage as a foreigner in a post-Covid-19 world?

We help foreigners to find the ideal local partners for their Spanish dream homes. Find all our partners here.

Of course, mortgage financing is one of those service and is one for which we see a lot of activity.

Ask for a free mortgage quote

I don’t need a mortgage, why should I take one?

We hear that a lot, “I don’t need a mortgage, I pay cash”. Why should you take a mortgage? There are many reasons:

Interest rates are very low
It is easier (and less expensive) to get a loan while buying a house rather than get a loan, let’s say, to start a business
You can get up to 70% of the value of the property as a foreigner
Buying a rental property? This means that you have to pay taxes in Spain on it as you are taxed on your net income. If you get a mortgage, you will have some mortgage costs that will be deductible from your gross income.

Is it easy to get a mortgage in Spain as a foreigner?

It is easy to get financing in Spain: here are the three main rules:

Less than 70% of the value of the property (loan to value)
You should earn 3 times more than the monthly payments for your mortgage
Start the process early so that you can get your purchase done quicker once your found your dream property as the agreement process will take more time than before

Your offer will be valid for 3 months and you can ask for a renewal if needed: it will be easier to get rather than start from scratch.

Read our complete guide on that subject: Your definitive guide to your Spanish mortgage. How to get the best rates?

How to proceed as a foreigner and benefit from the Spanish real estate opportunities?

Don’t miss our easy to read guide, you will learn as well what are “The ideal Spanish property for foreigners in a post-Covid-19 world“

Buying a property in Spain? Benefit from the opportunities!

What are the latest financing trends at Spanish banks since Corona started?

Here is some feedback we get from the market and from our local partners:

As we reported earlier on, Real estate agents are back at work
Activity is back and strong. Check our Spanish real estate outlook for 2022.
Mortgage activity was very low in 2020 but rebounded in 2021 after lock downs got finished.
The banks have spoken about increasing rates to recover their losses due to COVID-19 but aside from one of the main banks, we haven’t really seen this yet
The banks are working as normal
Bankers are working from home so the process takes a little longer but approvals and completions are still going ahead
Valuation companies are still visiting properties and up until recently, we’ve seen no change in valuations. It’s too soon to tell but our partner had its first down valuation due to COVID-19. Valuation are done by banks in order to provide you the mortgage. As reported earlier, the central bank of Spain issued warning in March 2020 regarding the valorisation of houses as reported in the Spanish newspaper “Expansion” (Spanish).
Notaries are back at work as usual
Some investors are buying off-plan but most buyers want to visit the properties after the travel ban has been lifted
You can ask for a mortgage to finance both the purchase and the renovation within the same mortgage

We noticed ourselves that customers are back from all over the world and our site traffic is back to its highs.

Discover the best new build projects in Spain available right now

New build for sale in Spain € 320,000

2 beds 1 bath 61.3 m²

New build for sale in Spain € 313,000

2 beds 2 baths 61.3 m²

New build for sale in Spain € 540,000

3 beds 3 baths 191 m²

New build for sale in Spain € 520,000

3 beds 2 baths 109 m²

New build for sale in Spain € 345,000

2 beds 2 baths 97 m²

New build for sale in Spain € 435,000

3 beds 2 baths 114 m²

New build for sale in Spain € 350,000

3 beds 2 baths 106 m²

New build for sale in Spain € 273,000

2 beds 2 baths 83 m²

New build for sale in Spain € 368,000

3 beds 2 baths 103 m²

New build for sale in Spain € 315,000

2 beds 2 baths 90 m²

New build for sale in Spain € 245,000

2 beds 2 baths 83 m²

New build for sale in Spain € 335,000

3 beds 2 baths 98 m²

New build for sale in Spain € 250,000

2 beds 2 baths 90 m²

New build for sale in Spain € 420,000

2 beds 2 baths 81.7 m²

New build for sale in Spain € 475,000

3 beds 2 baths 101.9 m²

New build for sale in Spain € 490,000

3 beds 2 baths 119.8 m²

New build for sale in Spain € 540,000

3 beds 2 baths 129.2 m²

New build for sale in Spain € 530,000

3 beds 2 baths 106.9 m²

New build for sale in Spain € 370,000

2 beds 2 baths 88.9 m²

New build for sale in Spain € 440,000

3 beds 2 baths 106.9 m²

New build for sale in Spain € 367,000

3 beds 3 baths 177 m²

New build for sale in Spain € 262,000

3 beds 2 baths 84 m²

New build for sale in Spain € 242,000

2 beds 2 baths 72 m²

New build for sale in Spain € 277,000

2 beds 2 baths 73 m²

New build for sale in Spain € 255,000

3 beds 2 baths 85 m²

New build for sale in Spain € 220,000

2 beds 2 baths 71 m²

New build for sale in Spain € 240,000

2 beds 2 baths 80 m²

New build for sale in Spain € 280,000

3 beds 2 baths 88 m²

New build for sale in Spain € 585,000

3 beds 3 baths 162 m²

New build for sale in Spain € 348,000

3 beds 2 baths 220 m²

New build for sale in Spain € 355,000

3 beds 2 baths 100 m²

New build for sale in Spain € 385,000

2 beds 2 baths 76 m²

New build for sale in Spain € 325,000

3 beds 2 baths 97 m²

New build for sale in Spain € 269,000

2 beds 2 baths 81 m²

New build for sale in Spain € 631,000

3 beds 2 baths 123 m²

New build for sale in Spain € 345,000

2 beds 2 baths 154 m²

New build for sale in Spain € 430,000

3 beds 2 baths 116 m²

New build for sale in Spain € 730,000

3 beds 2 baths 149 m²

New build for sale in Spain € 529,000

3 beds 2 baths 133 m²

New build for sale in Spain € 319,000

2 beds 2 baths 87 m²

Don’t hesitate to ask our partners if they have special promotion as they do from time to time.

What are current financing conditions?

Have a quick look at our monthly report with the latest numbers: Find the best Spanish mortgage rates

Do you want to run a quick simulation on how much it would cost before asking a quote to our partner?

Your ultimate Spanish mortgage calculator: What is the cost of your Spanish Mortgage?

The Spanish housing market post covid

As we wrote in our earlier papers: the taste of buyers will change due to Coronavirus:

This concludes our report, if you want to check any of our report on the Coronavirus and its impact on the Spanish Real Estate: our in-depth analysis of the Spanish Housing Market post-Covid-19.

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS
Check the full HTBIS team here

The post Is it easy to get a Spanish mortgage as a foreigner in a post-Covid-19 world? appeared first on How to buy in Spain.

Spanish mortgage rates Archives - How to buy in Spain

What are the best Spanish mortgage rates? June 2025 update

What are the best Spanish mortgage rates?

Here is our June 2025 update with the latest data available

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Current market conditions

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Essential information on Spanish Mortgages for non-residents

Calculate the cost of your Spanish mortgage

What is the cost of a €100,000 mortgage over 10 years?

Summary table of your monthly reimbursements for a €100.000 Mortgage

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Why would you take a fixed-rate mortgage?

Why would you take a mortgage with a variable rate?

Inflation update since the start of 2023

How do you secure the best mortgage rates in Spain?

The ideal mortgage customer for a Spanish bank

Get a free mortgage quote

Spanish Mortgage Rates: Market Insights and Trends

423,761 mortgages issued in Spain in 2024

Spanish Bank Financing Costs: 10-Year Bond Yields vs. Euribor Rates (2020-2025)

The Ultra-Low Rate Era (2020-2022)

The Great Rate Surge (2022-2024)

The Turning Point (Late 2024-2025)

Implications for Property Investors – Our View

Historical evolution of Spanish mortgage rates and other & useful information

Resources on Spanish mortgage rates

Discover the best new build projects in Spain.

Check out our latest articles on Spanish mortgage rates

All our interactive charts in this article are available in a downloadable format

FAQ Spanish mortgage rates

How much deposit do I need for a Spanish mortgage?

What is the interest rate in Spain?

Can foreigners get a mortgage in Spain?

Can I get a Spanish mortgage?

Here are the statistics for earlier years:

The Spanish mortgage rates situation for December 2021

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for October 2021

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for February 2021

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for January 2021

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for December 2020

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for November 2020

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for October 2020

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):

The top region in terms of amounts of mortgages issued (Annual)

The Spanish mortgage rates situation for September 2020

The top 3 regions with the biggest increases for the number of mortgages issued:

The top region in terms of amounts of mortgages issued

The Spanish mortgage rates situation for August 2020

The top 3 regions with the biggest increases for the number of mortgages issued:

The top region in terms of amounts of mortgages issued

The Spanish mortgage rates situation for July 2020

The top 3 regions with the biggest increases for the number of mortgages issued:

The top region in terms of amounts of mortgages issued

The Spanish mortgage rates situation for June 2020

The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):

The top regions in terms of amounts of mortgages issued are (change vs 1 year ago):

The Spanish mortgage rates situation in May 2020

Best mortgage conditions in Spain?

The top regions with the biggest increases for the number of mortgages issued are (monthly changes):

The top region in terms of amounts of mortgages issued are (change vs 1 year ago):

The Spanish mortgage rates situation in April 2020

Best mortgage conditions in Spain?

The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):

The top region in terms of amounts of mortgages issued are (change vs 1 year ago):

The Spanish mortgage rates situation in March 2020