Mortgages in Spain 2026: what non-residents need to know

31 December, 2025 | Antonio Beltrán

If you live abroad.
But you own property in Spain.
Or you’re buying one now.

This is for you.

2026 is not about guessing.
It’s about understanding how mortgages work here.

The quick summary (for international buyers)

• Euribor is more stable.

• No big shocks expected in 2026.

• Mortgages in Spain are not cheap.

• But they are far more predictable than a few years ago.

That matters when your income comes from abroad.

Euribor in 2026: why it matters to non-residents

Many Spanish mortgages are still linked to Euribor, but the market has changed.

For 2026, forecasts place Euribor between 2% and 2.5%.

In plain English:

• Monthly payments are no longer jumping every year.

• Planning ahead is easier.

• Budgeting from another country is more realistic.

For non-residents, predictability is key.

Mortgages in Spain have changed

This is important.

A few years ago, variable-rate mortgages dominated the market.
That is no longer the case.

Today:

• Fixed-rate and mixed mortgages are much more common.

• Buyers value stability after recent rate shocks.

• Banks actively promote fixed and mixed options.

Especially for non-residents, stability has become the priority.

What mortgage makes sense for non-residents in 2026?

Let’s keep it simple.

At HipotecasPlus, our recommendation is clear

👉 For most non-residents, the best options are:

• Fixed-rate mortgages

• Mixed mortgages

Why?

Because living abroad already adds uncertainty.

Currency.
Taxes.
Rental income.
Distance.

Your mortgage should not add more risk.

Fixed-rate mortgages: peace of mind from abroad

This is the safest option.

• Same monthly payment.

• No matter what Euribor does.

• Easier to manage in another currency.

Best if:

• Your income is outside Spain.

• You rent the property.

• You want full control over costs.

You may pay slightly more at first.
But you buy certainty.

Mixed mortgages: flexibility with protection

A strong middle ground.

• Fixed rate at the start.

• Variable later.

Makes sense if:

• You plan to sell or refinance in a few years.

• You expect income growth.

• You want protection now and options later.

For many non-residents, this is a very balanced solution.

What about variable-rate mortgages?

Here we’re very clear.

❌ Not the standard choice anymore

Variable mortgages are no longer the default option in Spain.

And for non-residents, they should be considered only in very specific cases.

✅ Who should consider a variable mortgage?

Only if you have:

• Very high and stable income.

• Strong cash reserves.

• Ability to repay early.

• No dependence on rental income.

• Full understanding of Euribor risk.

If your income is in another currency.
If stability matters to you.

A variable mortgage is usually not the right fit.

What non-residents often underestimate

The interest rate is only part of the story.

You also need to consider:

• Lower loan-to-value ratios for non-residents.

• More documentation.

• Currency risk.

• Bank criteria that change often.

This is where many buyers lose time and money.

What HipotecasPlus does differently for non-residents

We work with international clients every day.

We:

• Know which banks lend to non-residents.

• Explain everything in plain English.

• Handle the process remotely.

• Avoid unnecessary friction.

No jargon.
No confusion.
No surprises.

Final takeaway

Buying property in Spain as a non-resident is common.
Choosing the wrong mortgage is expensive.

In 2026:

• Euribor is stable.

• Banks are selective.

• Planning matters more than ever.

👉 Fixed and mixed mortgages are the preferred option for most non-residents.
👉 Variable mortgages, only for very strong financial profiles.

If you live abroad.
Your Spanish mortgage should be the calm part.

At HipotecasPlus, we keep it simple.
And safe.