Mortgage Rate Spain in 2025: Updated Insights for International Buyers

Spain continues to be one of the most attractive countries in Europe for international property buyers. In 2025, the mortgage rate Spain is offering exceptional conditions that are opening the doors to highly competitive financing, particularly for non-residents.

By June 2025, the average interest rate for new mortgage loans in Spain has stabilised at 2.98%, confirming the downward trend that began earlier this year. At the same time, the reference rate for variable mortgages, the 12-month Euribor, remains around 2.08%, creating a favourable environment for both fixed and variable-rate products.

Mortgage Rate Spain in 2025: What Has Happened So Far

The beginning of the year brought cautious optimism after the turbulence of previous years. Mortgage rates, which had reached high levels in 2022 and 2023, started to decline throughout 2024. That decline continued into 2025.

From January to June, mortgage rates in Spain have gradually decreased from just over 3.1% to 2.98%, with some banks already offering fixed-rate products below 2.25% for qualified applicants. The most notable development has been the growing stability of these rates, which are no longer fluctuating dramatically from one month to another.

This stability is the result of consistent monetary policy decisions at the European level, combined with growing competition among Spanish banks eager to finance property purchases, including those from international clients.

Fixed or Variable: What Are Non-Residents Choosing in 2025?

In 2025, most buyers—especially non-residents—are leaning toward fixed-rate mortgages, representing approximately two-thirds of all new contracts.

• Fixed-rate mortgages are now being offered in the range of 2.25% to 3.1%, depending on the bank and the applicant’s financial profile.
• Variable-rate mortgages, based on the Euribor plus a typical margin of  0.70–1.2%, are averaging between 3.0% and 3.2%. Although these are slightly higher than fixed options today, they may fall further if the Euribor decreases in the second half of the year.

For non-resident buyers who value certainty and long-term planning, fixed-rate products are currently the preferred option. However, variable-rate products may become more attractive in the coming months if monetary easing continues.

Forecast for Mortgage Rate Spain: What to Expect in Late 2025

The general expectation for the second half of 2025 is that interest rates will remain stable or decrease slightly. Several indicators point to a scenario of controlled inflation and moderate economic growth, which favours the continuation of low interest rates.

Based on the most recent projections:

• Fixed-rate mortgages could fall to 2% to 2.8% by the end of the year.
• Variable-rate mortgages may also drop closer to 2.9% to 3.0%, depending on the behaviour of the Euribor and future central bank decisions.
• The average mortgage rate in Spain for new loans is likely to stabilise between 2.7% and 2.8% in the last quarter of the year.

This presents an excellent opportunity for non-resident buyers to access financing under historically favourable conditions.

Key Considerations for Non-Resident Buyers

If you are a foreign buyer considering purchasing property in Spain, there are several key aspects to be aware of:

🔹 Deposit requirements: As a non-resident, you will typically need to provide at least 30% of the property price as a down payment, since Spanish banks usually finance up to 70% for non-residents. In addition to this, you must also cover taxes and purchase costs, which usually represent an extra 10–13% of the purchase price.

🔹 Loan duration: The maximum mortgage term for non-residents is generally 25 years, depending on your age, income, and nationality.

🔹 Documentation: Lenders will ask for proof of income, tax documentation from your country of residence, and your NIE (Spanish tax identification number), among other financial documents.

🔹 Approval timeline: With proper preparation and guidance, pre-approval can be obtained within 10 to 15 days.

Working with a specialised mortgage broker can greatly improve your chances of securing a mortgage, as they know exactly how to present your file, negotiate the best conditions, and handle all communication with the banks.

Why Work With Mortgage in Spain Mortgage Broker

We are not just a mortgage broker—we are your strategic partner in the Spanish real estate market. Here’s why international clients trust us:

• ✅ 99% approval rate for non-resident mortgages.
• ✅ We have experience with clients from over 20 nationalities, including the UK, USA, Ireland, France, Germany, Netherlands, Canada, and more.
• ✅ We are a mortgage broker licensed by the Bank of Spain—your guarantee of professionalism and reliability.
• ✅ Our service is completely free for you: our fees are paid by the bank that grants your mortgage.
• ✅ We take care of the entire process: from mortgage calculation and documentation to negotiation, pre-approval, and notary coordination.
• ✅ We also connect you with trusted lawyers, real estate agencies, currency exchange providers, and utility services to make your purchase seamless and safe.
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Take Advantage of the Current Market

The mortgage rate Spain in June 2025 reflects one of the most buyer-friendly environments in recent years. If you are thinking of buying a property in Spain, now is the time to act. Rates are low, conditions are stable, and our expert team is here to guide you from start to finish.

Contact us today to receive your free, personalised mortgage study. We’ll help you understand your maximum borrowing capacity, calculate your monthly payments, and secure the best offer from our network of Spanish banks.

Let’s make your property purchase in Spain a successful, secure, and stress-free experience.