Yes — foreign buyers can access Spanish mortgages, but banks will typically lend only 60% to 70% of the property's value. That ceiling is lower than most buyers expect. The first move is to confirm whether you actually qualify for that lending before it enters your budget calculations at all.
In many northern European markets, buyers are accustomed to borrowing 80%, 85%, or even 90% of a property's value. Spain applies a stricter limit for non-resident foreign purchasers: Spanish banks cap their lending at 60% to 70% loan-to-value. That gap has to come from your own funds.
On a property listed at 350,000 euros, for example, a 60% LTV mortgage covers 210,000 euros. The remaining 140,000 euros — plus an additional 10% to 12% in taxes and purchase costs on top of the list price — must be in place before you can proceed. Running the numbers on this early is not optional; it defines your entire budget range.
Warner and the team at WL Costa Properties consistently flag this as one of the first questions buyers need to resolve, not one of the last. The Costa Property Podcast works through these financial realities step by step, from mortgage eligibility through to relocation planning.
"We knew that the life that we had in Ireland wasn't sustainable for the growth of our family and our children and we just made that decision."
Warner — Co-host & Relocation and Property Expert, WL Costa Properties.
Warner relocated from Ireland to the Costa del Sol ten years ago, making the move with his partner and two young children. He co-founded WL Costa Properties, a property and relocation advisory business built specifically to help international buyers navigate every step of the process — from mortgage eligibility and budgeting through to finding the right area and settling in. He and his co-host draw directly on their own experience of buying, flipping, and renovating investment properties on the Costa del Sol. Warner describes himself as the dreamer in the partnership, with his co-host handling the planning and operational side.
Beyond the list price, buyers should budget an additional 10% to 12% on top of the purchase price to cover taxes and costs. On a 350,000-euro property, that means setting aside an extra 35,000 to 42,000 euros before the purchase can complete.
Benalmadena is specifically highlighted as the better option for buyers seeking a townhouse on a golf course, with this type of property being readily and consistently available there compared to other areas along the coast.
Yes — the podcast recommends renting via Airbnb for a month or six weeks, and repeating this at different times of year, including outside the summer season, before committing to a purchase in a rural or village setting.
This answer comes directly from The Costa Property Podcast — a show built for buyers seriously considering a move to the Costa del Sol.
Listen to the episode on Listenly