Up to 75% Mortgage Financing in Spain
Today, Spánarheimili clients have access to financing options that can make buying a property in Spain a more realistic opportunity for more Icelanders.
- Up to 75% mortgage financing
- Around 4% non-indexed interest rates
- Loan terms of up to 30 years
- Mortgage approval can be received in as little as 3 days
Personal Assistance Throughout the Entire Process
- Mortgage pre-approval assessment in Spain
- Translation of all financial documents required for the mortgage application
- Handling all communication and paperwork with Spanish lenders
- Finding your dream property that matches your needs and budget
Our goal is to make the process simple, secure and personalised for Icelandic buyers.
Detailed Mortgage Terms
The mortgages are non-indexed and typically offer a fixed interest rate for the first 3 to 5 years. After that, the rate becomes variable and is based on the European Euribor rate plus the bank's margin, which is generally between 1.7% and 2.0%. As of May 2025, the Euribor stands at 1.88% and is trending downward.
Loan terms are available for up to 30 years, provided that the final repayment date falls before the youngest borrower's 75th birthday. Therefore, the maximum loan term depends on the age of the youngest applicant.
Mortgage financing is available for up to 75% of the net purchase price. When buying property in Spain, buyers should also budget for an additional 10% in property transfer taxes, plus approximately 3–5% in legal and purchasing costs, resulting in total acquisition costs of up to 15%.
As a general guideline, the monthly repayment on a €100,000 mortgage over 30 years at approximately 4% non-indexed interest is around €477, equivalent to roughly ISK 69,000 per month (exchange rate as of 15/05/2026).
Some lenders also offer mortgages that include life insurance, meaning that if the borrower passes away during the loan term, the outstanding mortgage balance is repaid through the life insurance policy.
Why choose us?
Spánarheimili has been helping Icelanders buy property in Spain for over 20 years. We have offices in both Iceland and Spain and focus on personal service, trust and professional guidance throughout the entire process.
We work with a wide range of trusted developers and partners in the Costa Blanca and Costa Cálida areas, giving us access to a broad selection of properties — including homes that are not always advertised on our website.
Whether you are looking for an apartment, a holiday home, a golf villa or an investment property, we can help you find a home that matches your wishes, needs and budget.
Book a free private consultation
Book a private consultation with Spánarheimili experts in Iceland or Spain. During the meeting, we will go through:
- Financing and mortgage conditions
- The property purchase process in Spain
- Running costs and other important information
- Finding properties that match your wishes and budget
- After-sales services
No obligation — just a relaxed and personal conversation.
