Thinking of buying in Spain while living in the UAE? Spanish banks do lend to non-resident buyers, and much of the process can be handled from Dubai. Here are the questions UAE-based buyers ask us most.
Q1: Can I get a mortgage in Spain while living in the UAE?
Yes. Several Spanish banks actively lend to non-resident buyers, including UAE residents. You don’t need Spanish residency, a Spanish job or income in euros — what lenders want is a clear, well-documented financial profile.
With a power of attorney, much of the process can be completed without travelling to Spain.
Q2: How much can I borrow?
Mertoun can arrange up to 70% financing for UAE residents, based on the purchase price or the bank’s valuation, whichever is lower. In practice that means planning for:
- a deposit of at least 30% of the price;
- purchase taxes and fees on top — mainly the regional transfer tax (6–13%);
- a term of up to 25 years, usually repaid before you reach around 75.
The final amount depends on your income after existing commitments and the bank’s affordability calculation.
Q3: Is earning in AED a problem?
Not necessarily — but banks treat foreign-currency income more cautiously because of exchange-rate risk. What helps:
- stable salaried income or well-documented business revenue;
- total debt repayments ideally under 30–35% of net income;
- few existing loans, credit cards or mortgages;
- a clean UAE credit report (AECB);
- savings beyond the deposit and purchase costs.
Q4: What interest rates can I expect?
Rates are set case by case. Fixed and variable options are available, with rates from around 2.67% for strong profiles.
Variable rates follow the 12-month Euribor plus the bank’s margin. After the ECB raised rates in June and September 2026, Euribor stood at about 3.2% in mid-October — so today most variable deals cost more than fixed ones, and fixed rates are the popular choice.
Q5: What does it cost to buy in Spain?
| Cost | Typical amount |
|---|---|
| Purchase | |
| Transfer tax (ITP) — resale homes | 6–13% depending on region (Madrid 6%, Andalusia 7%, Valencia 10%, Catalonia 10–13% by value) |
| New build from a developer | 10% VAT + stamp duty (AJD) of around 1–1.5% instead of ITP |
| Notary | around 0.2% of the price |
| Property register | 0.1–0.25% of the price |
| Mortgage | |
| Property valuation | up to €1,200 |
| Bank fee | around 1% of the loan |
| Mertoun service fee | 2% of the loan (min. €8,000) + 5% VAT |
Q6: Which documents will I need?
- Passport — age and citizenship requirements apply
- Proof of income and UAE residency (residence visa and Emirates ID)
- Employment contract or salary certificate and recent payslips — or audited accounts and trade licence if self-employed
- Bank statements for the last 6–12 months
- Proof of the down payment and source of funds
- NIE (Spanish foreigner identity number) and certified translations — we can arrange both
- Reservation contract and property details once you have found a home
Q7: Which properties are easiest to finance?
Ready, legally registered homes in established areas — apartments in cities such as Madrid, Barcelona, Valencia or Málaga, and villas on the Costa del Sol or Costa Blanca — are usually the most straightforward. Rural properties, homes needing major renovation, or anything with planning or legal issues are harder to finance, so check before you commit.
Q8: How long does it take — and do I need to travel?
Around 4–5 weeks in total — see the step-by-step process below. Before signing, Spanish law gives you at least 10 days to review the binding offer, and you meet the notary beforehand to confirm you understand the terms. Many UAE clients then sign through a power of attorney instead of travelling.
The most common delay is starting late — get your eligibility checked before you reserve a property.
Q9: How does Mertoun help?
- Eligibility review — we look at your income, residency, commitments and target property.
- Document preparation — a checklist built for UAE-based applicants.
- Lender options — we compare banks that actively lend to non-residents.
- Through to completion — we coordinate valuation, offer and notary with local professionals.
This guide is general information, not financial or legal advice. Rates, taxes and lender criteria change and depend on your circumstances; figures are indicative as of the date shown.