The Costa del Sol — especially Malaga and Marbella — remains one of Spain’s top destinations for international property buyers. With world-class infrastructure, high-end villas, and vibrant coastal living, demand is strong — and so is the mortgage market. If you’re a non-resident planning to buy property here, this guide will walk you through the Spanish mortgage process, step by step.
🏙️ Why Buy in Malaga or Marbella?
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☀️ 300+ sunny days a year
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🛫 Direct flights to EU, UK, and Middle East
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🏘️ High-end neighborhoods: Sierra Blanca, La Zagaleta, Golden Mile
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🌍 Foreign buyers from UK, Sweden, Norway, Netherlands, Germany
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💸 Long-term rental and investment potential year-round
🏦 Can Foreigners Get a Mortgage in Malaga or Marbella?
Yes — non-resident buyers are eligible for mortgages from Spanish banks operating throughout Costa del Sol. However, lenders are cautious with high-value properties, off-plan purchases, and foreign income, so preparation is key.
💶 Typical Mortgage Terms in Malaga & Marbella
| Feature | Typical Range |
|---|---|
| Loan-to-Value (LTV) | 60–70% (often lower for villas or luxury) |
| Down Payment | 30–40% |
| Mortgage Term | 15–25 years |
| Interest Rate | Fixed: 3.5–4.5%, Variable: Euribor + 1.5–2% |
| Debt Ratio | Max 30–35% of income |
📌 Banks may offer lower LTVs for non-EU applicants or properties over €1 million.
🧾 Required Documents for Non-Residents
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Valid passport
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NIE (Foreigner ID)
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Proof of income (salary, pension, or dividends)
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1–2 years of tax returns
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Recent bank statements
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Foreign credit report
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Reservation or private contract
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Proof of deposit funds
📌 All documents must be translated to Spanish and legalized (apostille).
🏛️ Best Banks for Foreign Buyers in Costa del Sol
| Bank | Specialties in Malaga & Marbella |
|---|---|
| CaixaBank | Experienced with international clients and online banking |
| Sabadell | Dedicated expat mortgage department |
| Bankinter | Flexible with freelancers and entrepreneurs |
| Unicaja | Local bank with strong presence in Andalusia |
💡 Mortgage brokers in Marbella can streamline the process and negotiate better rates for high-value purchases.
⚖️ Legal Considerations for the Region
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🧱 Illegal construction in older villas or rural areas
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🏗️ Off-plan properties: risk of delivery delays or license issues
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🧾 Short-term rental licenses: often restricted in Marbella’s luxury zones
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📄 Missing habitation certificates (especially in resale properties)
✅ A lawyer will:
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Conduct due diligence on the property
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Negotiate or review the mortgage terms
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Represent you via Power of Attorney if buying remotely
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Register the mortgage and title at closing
💸 Taxes & Mortgage-Related Costs in Malaga & Marbella
| Cost Type | Typical Range |
|---|---|
| Transfer Tax (ITP) | 7–10% (varies by price bracket) |
| Mortgage Tax (AJD) | 0–1.5% |
| Notary + Registry Fees | 1.5–2% |
| Bank Arrangement Fees | 0.5–1% |
📌 High-value properties (€1M+) often come with higher legal scrutiny and lower bank valuations.
❓ FAQs
Can I get a mortgage for a luxury villa?
Yes, but you may be asked for more documentation, lower LTV, and higher income proof.
Is it possible to finance an off-plan property?
Yes — but only after the developer obtains a building license and the property can be legally mortgaged.
Can I apply remotely?
Yes — most steps can be handled by a lawyer via Power of Attorney without you flying to Spain.
🤝 How Borderless Lawyers Helps
We offer full legal and mortgage support for foreign buyers in the Costa del Sol:
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NIE and bank account setup
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Mortgage pre-approval
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Legal due diligence for luxury or off-plan purchases
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POA-based representation for remote closings
👉 Planning to buy in Malaga or Marbella? Let us guide you through a safe, successful mortgage process.