Buying property in Mijas Costa is a dream for many international buyers—but one of the most common questions is: can foreigners actually get a mortgage in Spain?
According to Keith from Target Property Spain, the answer is a clear yes—but understanding how the system works is key to making a smart and successful purchase.
Can Non-Residents Get a Spanish Mortgage?
Foreign buyers are not only eligible for mortgages in Spain, but they make up a significant portion of financed purchases along the Costa del Sol.
Non-residents can typically borrow 60–70% of the property value, while residents may access up to 80% financing, depending on their financial profile.
This opens the door for many expats who may not want—or need—to purchase entirely in cash.
The Biggest Mistake Foreign Buyers Make
One of the most common pitfalls is starting the property search before securing financial clarity.
Many buyers begin viewing homes across areas like Fuengirola and Marbella, only to later discover uncertainty around their borrowing capacity.
This can lead to missed opportunities, especially in a competitive market like Mijas Costa where well-priced properties attract strong international demand.
What Spanish Banks Look For
Securing a mortgage as a foreigner is less about nationality and more about financial strength and preparation.
Spanish lenders will assess:
- Stable and provable income
- Debt-to-income ratio
- Credit history (from your home country)
- Employment status or business accounts
- Available deposit and additional funds
In addition to the deposit, buyers should budget 10–13% extra for purchase taxes and associated costs in Andalucía.
Why Preparation Gives You an Advantage
Buyers who arrange mortgage pre-approval before starting their search are in a significantly stronger position.
They benefit from:
- Clear budget confidence
- Faster decision-making
- Stronger negotiating power
- Greater credibility with sellers
In a high-demand location like Mijas Costa, this preparation can make the difference between securing a property—or losing it.
Expert Guidance for Expat Buyers
Keith and the team at Target Property Spain work closely with trusted mortgage brokers who specialise in helping international clients navigate the Spanish lending system.
From initial financial assessment to property acquisition, having the right guidance ensures a smoother, more efficient buying process.
Ready to Explore Your Options?
For tailored advice on buying property in Mijas Costa—and to understand exactly how much you could borrow—visit the Contact Us page and speak directly with an expert.
👉 Contact Target Property Spain today to start your property journey with confidence.