/Blog/General/Mortgage in Spain for EU and Ukrainian Citizens: How to Buy Property in 2025
Mortgage in Spain for EU and Ukrainian Citizens: How to Buy Property in 2025
Real estate mortgage is an affordable way to buy an apartment in Spain.
The topic of housing mortgages in Spain is very broad, but we will only share the part we know from our personal experience. All figures in the article are averaged – everything depends on many factors and on the specific bank in the Kingdom of Spain.
In 2025, EU citizens and Ukrainians can take advantage of low rates and flexible conditions, despite differences in residency status and sources of income. This article explains how to obtain a mortgage in Spain for foreigners, what documents are needed, real figures, and how incomes from the EU, Ukraine, or Spain affect bank approval. We have considered different income levels and added practical tips for a successful real estate purchase.
Why is a real estate mortgage in Spain beneficial?
Spain is the EU leader in mortgage affordability due to low rates and rising property prices (5–19% per year on the coast). In October 2024, the average rate was 3.2% — lower than in Germany (3.65%) or the Netherlands (3.73%). EU citizens have better conditions, but Ukrainians with incomes in the EU/Spain can also take out a loan. At the end of the article, there is good news for Ukrainians.
Advantages of mortgages in Spain:
Low rates: Fixed from 2.5% (residents) to 7% (non-residents).
Long terms: Up to 30 years, reducing monthly payments.
Investments: Real estate appreciates, especially in popular areas.
Mortgage conditions in Spain
For EU citizens
Citizens of the Eurozone (residents of Spain or other EU countries) receive better conditions due to transparent incomes and status in a European country.
Term: Up to 30 years (borrower’s age up to 65-75 years).
Payment: No more than 35% of income.
Down payment: 20–30% (residents), 40–60% (non-residents). There are exceptions: a down payment of 0% on the mortgage. This option is not available to everyone. And this topic is a separate article.
Example: An apartment in Valencia for €170,000. A EU citizen (resident) takes €136,000 (80%) at 3% for 20 years. Payment: €755/month, income needed €2,150/month.
For Ukrainian citizens after 2022, not all Spanish banks issue mortgages to Ukrainians, requiring income outside Ukraine.
Loan: 40–60%.
Rates: 6.5–7% (including insurance).
Term: 15–25 years.
Payment: Up to 35% of income.
Down payment: 40–60%.
Example: A Ukrainian with income in Spain buys an apartment for €170,000, takes €85,000 (50%) at 6.5% for 15 years. Payment: €740/month, income needed €2,100/month.
How do incomes affect mortgages?
Banks in Spain must verify the source of income (Ley 10/2010) to comply with EU laws against money laundering.
1. Incomes in Spain
Who: EU citizens or Ukrainians with a Spanish contract (contrato laboral).
Advantages: Bank loyalty, rates 2.5–4%.
Example: A Frenchman earns €3,000/month in Valencia, takes €200,000 at 3%, payment €1,050/month (35% of income).
2. Incomes in other European countries
Who: Working in Poland, Germany, etc.
Advantages: Stable incomes in euros, rates 3–5%.
Example: A Ukrainian in Poland earns €2,500/month, takes €120,000 at 5%, payment €710/month.
3. Incomes in Ukraine
Restrictions: Some banks do not consider Ukrainian incomes due to risks. A mortgage is unlikely without incomes in the EU/Spain, but still possible. SunLine knows how to do it.
Alternative: Installment payment from the developer. But not all developers will approve Ukrainian incomes.
Example: A freelancer from Kyiv (€2,000/month) will not get a mortgage but can make a down payment of about €150,000 (50%) and make an installment payment on the remaining amount.
Note* Some banks in Spain set a minimum threshold for issuing a mortgage. For example: €150,000 with a down payment of 30%. Accordingly, the minimum cost of an apartment should be approximately €215,000.
Documents for a mortgage in Spain
Below is a sample list of documents required for mortgage processing. The list may vary depending on the bank.
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NIE: Tax number (obtained through the consulate or at the police station or notary in Spain).
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DNITIE: Spanish citizen card (Documento Nacional de Identidad)Resident card of Spain (Tarjeta de Identidad de Extranjero).
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Passport/ID: International passport (for Ukrainians), ID card (for EU citizens).
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Income:
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From the workplace (payroll (nómina) and employment contract).
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Income tax return for the last 1–2 years.
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Bank statement of income and expenses for the last 6–12 months.
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Bank account certificate: Certificado de titular
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Contract for the reservation of the property being purchased: Contrato de arras or reserva.
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Valuation: Tasación (conducted by the bank).
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Additionally: Certificate of no criminal record (sometimes).
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Vida laboral: Certificate of employment activity, issued by Seguridad Social (social security).
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If the mortgage is taken out by a company, the bank will request a list of documents related to the registration and financial activities of the company.
Note* All documents must be translated into Spanish. Some banks require that the translation be done by a sworn translator (traductor jurado). For other banks, a notarial translation or even a translation from Google Translate will suffice.
Alternative: Our company offered a purchase option for a new building with direct payment to the developer under the terms of a 50% down payment, €1,000 monthly payment for 1.5 years, and payment of the remaining amount when the building is put into operation and the final purchase of the property occurs.
Additional expenses when purchasing
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Property valuation: €300–500.
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Notary/registration: 0.5–1% (€850–€1,700 for €170,000).
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Taxes:
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ITP (secondary market): 6–10% of the property value.
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IVA (new buildings): approximately 11.5% of the property value.
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Insurance: €200–400/year.
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Bank fees: 0.5–1% (not always).
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Mortgage broker: €1,500-8,000 (not mandatory).
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Document translation: approximately €100-1,000.
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Real estate agency services: 3-5% of the property value.
Example: For an apartment costing €170,000, expenses will amount to €15,000–€20,000.
Criteria for mortgage issuance
Do not forget that banks evaluate not only your income but also many other factors, for example:
spouse’s income
expenses (for the whole family)
number of dependents
presence of other mortgages and loans worldwide
whether you live in your own or rented apartment
your type and duration of income
age
duration of a certain amount of money in the bank account
and much more
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How to successfully get a mortgage in Spain
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Just contact the company SunLine real estate and they will help you avoid mistakes with the mortgage and do everything possible to increase your chances of mortgage approval in a Spanish bank.
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Risks and limitations
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Ukrainians: Not all banks in Spain issue mortgages to citizens of Ukraine with income in Ukraine.
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Income: Annual verification, failure to confirm income threatens problems.
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Euribor: Floating rates may rise.
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Early repayment: Penalties 0.25–4%.
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Conclusion: Your path to real estate in Spain
This year mortgage for real estate in Spain for EU and Ukrainian citizens remains a reality.
Contact us for full support:
+34627876669 WhatsApp
@sunline4spain Telegram
@sunline.en Instagram for English-speaking clients
@sunline.spain Instagram for Ukrainian-Russian speaking clients
Do you want to buy real estate in Spain? Write to us for apartment selection and mortgage processing!
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