Ir al contenido
Why Marbella needs a local financing approach
Marbella is one of Spain’s most international property markets. Buyers often come from the UK, the US, Northern Europe, Latin America or the Middle East. Some already live in Spain. Others earn their income abroad and are still planning their relocation.
This creates very different mortgage profiles. A buyer with Spanish payslips and Spanish tax returns will not be assessed in the same way as a buyer who earns income through a foreign company or files taxes outside Spain.
The property also matters. A villa in Nueva Andalucía, an apartment near the beach, a new-build home, a property in Elviria or a home in a gated community may raise different questions around valuation, legal status, community fees, taxes and timing. A mortgage in Marbella should therefore be planned together with the legal and property process, not separately.
Resident mortgages in Spain
A resident mortgage is usually for buyers who live in Spain and can prove income and tax history in Spain. As a general rule, Spanish banks usually finance up to 80% of the lower amount between the purchase price and the official bank valuation. This means the buyer normally needs at least 20% of the price, plus enough savings to cover taxes and purchase costs.
Banks will usually ask resident buyers for Spanish financial documentation. This often includes recent payslips, employment contract, bank statements and, in many cases, the last two Spanish income tax returns.
This point is important for people who have recently moved to Spain. A buyer may already live in Spain or intend to buy their main home here, but if they do not yet have Spanish tax returns, the bank may assess the case more cautiously.
In some specific cases, financing can go above 80%. For example, certain young buyers purchasing a first habitual home may be able to access higher financing, sometimes up to 95% or even 100%, depending on the bank, guarantees and applicable regional programmes. These cases are exceptions and should not be treated as the standard rule.
Non-resident mortgages in Spain
A non-resident mortgage is usually for buyers who live outside Spain, earn income abroad or do not have Spanish income tax returns.
This is very common in Marbella. Many buyers are financially strong, but because their income is generated outside Spain or they have not filed income tax returns in Spain, the bank treats them as non-resident borrowers.
In these cases, banks are normally more conservative. Financing often goes up to around 70% of the purchase price or valuation, depending on the bank and the buyer’s profile.
This means the buyer must usually contribute more cash. If the bank finances 70%, the buyer needs around 30% of the price from their own funds, plus the purchase costs.
The key point is simple: the mortgage percentage is not the full budget. Buyers also need enough savings for taxes, notary, registry, legal fees, valuation and other acquisition costs.
Purchase costs: the 10% rule
In Andalucía, where Marbella is located, buyers should normally calculate around 10% of the purchase price for taxes and purchase costs.
This is a practical estimate, not an exact figure. For resale properties, Transfer Tax applies. For new-build properties, VAT applies, and the total cost can be higher once other expenses are included.
For example, a non-resident buyer receiving 70% financing should not only think about the remaining 30%. They should also plan for approximately 10% or more in purchase-related costs. This is one of the most common mistakes foreign buyers make when calculating their budget.
Why the valuation matters
Spanish banks do not finance only according to the agreed purchase price. They require an official valuation of the property.
The mortgage amount is normally calculated based on the lower figure between the purchase price and the valuation. If the valuation is lower than expected, the bank may reduce the amount it is willing to lend.
This can be especially relevant in Marbella, where properties can be unique, recently renovated, located in premium areas or priced according to lifestyle demand. A buyer should never assume that the bank will value the property at the same price agreed with the seller.
The mortgage must fit the purchase timeline
The mortgage process must be coordinated with the legal purchase process.
Before signing a reservation or private purchase contract, buyers should understand whether the mortgage approval is preliminary or final, whether the bank still needs a valuation, how much time approval may take and what happens if the bank offers less than expected.
This is particularly important for international buyers managing the process from abroad. Documents may need to be translated, bank requirements can take time, and the notary process in Spain must be respected before signing the mortgage.
Final thoughts
For international buyers, using a mortgage broker in Marbella is not mainly about convenience. It is about understanding how Spanish banks will assess the case and avoiding surprises during the purchase.
The main distinction is between resident and non-resident financing. Resident buyers with Spanish income and tax history may usually access up to 80% financing, with higher percentages only in specific cases. Non-resident buyers, or buyers without Spanish tax returns, are usually assessed more conservatively and often receive financing of up to around 70%.
In both cases, buyers should also budget for purchase costs. In Andalucía, around 10% is a useful starting point, although the final amount depends on the type of property and tax treatment.
HolaExpat supports international clients in Spain with relocation, real estate, immigration and legal coordination. For buyers considering property in Marbella, the aim is to make the process clearer, better coordinated and adapted to the realities of buying in Spain as an international client.
