Valencia has become one of Spain’s most popular cities for foreign property buyers — offering sun, space, and affordability compared to Madrid and Barcelona. If you’re looking to buy a home or investment property in this dynamic city, you can finance it with a Spanish mortgage as a non-resident. This article explains how to qualify, what documents are required, and how to avoid common legal and financial mistakes.
🌇 Why Foreigners Love Buying Property in Valencia
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🌞 Mediterranean lifestyle without Madrid or Barcelona prices
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📈 High long-term rental demand in Ruzafa, El Carmen, Benimaclet
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🏖️ City beaches (La Malvarrosa, Cabanyal) with good transport links
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🎓 Popular with digital nomads, students, and early retirees
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✈️ Excellent flight connections to Europe and beyond
🏦 Can Foreigners Get a Mortgage in Valencia?
Yes. Most Spanish banks in Valencia are familiar with foreign applicants and offer non-resident mortgages. You don’t need Spanish income or residency — but you must meet minimum income thresholds and provide translated documentation.
💶 Typical Mortgage Terms in Valencia for Non-Residents
| Mortgage Feature | Typical Range |
|---|---|
| Loan-to-Value (LTV) | 60–70% of the property’s price |
| Down Payment | 30–40% from buyer’s funds |
| Term Length | 15–25 years |
| Interest Rate | Fixed: 3.5–4.5%, Variable: Euribor + 1.5–2% |
| Debt Ratio | Max 30–35% of monthly gross income |
📌 Some banks offer better terms for EU citizens or buyers earning in euros.
🧾 Required Documents for Valencia Mortgage Approval
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Valid passport
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NIE (Foreigner ID Number)
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Proof of income (e.g. payslips, pension, dividends)
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Personal or business tax returns (last 1–2 years)
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3–6 months of bank statements
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Credit report from your home country
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Proof of funds for down payment
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Reservation or purchase contract (if already signed)
📌 All documents not in Spanish must be officially translated and apostilled.
🏛️ Best Banks in Valencia for Foreign Buyers
| Bank | Why Choose It |
|---|---|
| CaixaBank | Expats-focused, digital-friendly, and widespread locally |
| Sabadell | Strong non-resident mortgage experience in the region |
| Bankinter | Flexible with freelancers and business owners abroad |
| Cajamar | Good regional option with physical branches in Valencia |
💡 Using a local mortgage broker can help compare rates and speed up approval.
⚖️ Legal Considerations in Valencia
While buying in Valencia is relatively straightforward, legal risks still exist:
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Urban planning issues in historic zones (El Carmen, Ciutat Vella)
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Inherited properties with unclear ownership
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Resale flats with pending community debts
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Illegal short-term rental conversions (especially in tourist areas)
✅ A property lawyer can:
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Review the mortgage contract and purchase terms
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Check for urban infractions or zoning violations
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Manage the purchase remotely with power of attorney
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Ensure full legal registration at the notary and Land Registry
💸 Taxes and Costs When Buying with a Mortgage in Valencia
| Cost Type | Estimated Amount |
|---|---|
| Property Transfer Tax (ITP) | 10% for resale properties |
| AJD (Mortgage Tax) | 0–1.5% (may vary by lender) |
| Notary + Registry Fees | 1.5–2% of the property value |
| Bank Arrangement Fee | ~0.5–1% of the loan amount |
📌 Some banks cover part of the AJD or notary costs as a promotion.
❓ FAQs
Can I get a mortgage in Valencia as a retiree or freelancer?
Yes. Many banks accept pension income or freelance earnings, as long as it’s stable and verifiable.
Can I get a mortgage from abroad?
Yes. You can submit your documents remotely and sign with a power of attorney if you can’t be in Spain.
Do I need to pay in euros or can I use my home currency?
Your income can be in foreign currency, but mortgage payments will be made in euros from a Spanish account.
🤝 How We Help
At Borderless Lawyers, we support foreign buyers in Valencia by:
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Securing your NIE and Spanish bank account
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Helping you get pre-approved for a mortgage
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Reviewing all contracts and property risks
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Handling your closing via power of attorney — no travel required
👉 Buying a home in Valencia? We’ll help you finance it safely and efficiently.