Around 2,300 Irish buyers complete a Spanish purchase every year, roughly three quarters buying from Ireland and the rest already living in Spain, and the number has more than doubled in ten years. It is not hard to see why. A three-bed semi in Dublin now lists at well over 600,000 euros, and the national average is over 400,000. On the Spanish coast, that buys a serious home near the sea, often with change. Add the two structural advantages Irish buyers hold, an EU passport and a euro income, and Spain is one of the most straightforward moves an Irish buyer can make.
This guide covers the whole journey, whether you are buying from Ireland or already here: how much a Spanish bank will lend you and what it wants to see from Irish paperwork, whether to borrow or pay cash, what the purchase and the ownership actually cost, the tax position on both sides, and the mistakes we see Irish buyers make. It includes a worked example with real numbers.
Foxes is a mortgage and legal company based in Spain, registered with the Bank of Spain (register number D470), working with international buyers across the whole country since 2015. This is the honest version, including where a mortgage is not the right call.
How much can an Irish buyer borrow in Spain?
For non-residents, Spanish banks lend against the property and your provable income, not against your life back in Ireland, and they cap what they will lend.
- Loan to value: up to 70 percent. Irish buyers can borrow up to 70 percent of the purchase price as non-residents. Where you land depends on your income and the property, and we will tell you before you commit to anything.
- Deposit: 30 to 40 percent, plus roughly 10 to 14 percent of the price again for taxes and costs, which the bank will not finance. Full breakdown below.
- Income: banks want solid, provable income, as a rough guide from around 2,500 euros net a month for a single applicant or around 4,000 combined for a couple.
- The 40 percent rule. The one that catches people. Spanish banks cap your total monthly debt at 40 percent of your net monthly income, and total means everything: the new Spanish mortgage, the mortgage on your home in Ireland, the car PCP, the credit union loan. An Irish mortgage of 1,800 a month uses up a large slice of that ceiling before Spain enters the picture.
Two things work in your favour that most nationalities do not get. Your documents are EU standard and in English, so no apostilles and no sworn translations slowing the file down. And you earn in euros, so your income counts at full value. Banks scale back foreign-currency income to protect themselves against exchange-rate swings, so applicants earning in other currencies see their income assessed below its face value. A euro earned in Cork is a euro assessed in Spain.
A worked example: the numbers on a 250,000 euro apartment
Say you find a 250,000 euro resale apartment on the Costa Blanca. Here is roughly how the numbers fall for an Irish couple buying as non-residents.
| Purchase price | 250,000 euros |
| Spanish mortgage at 70 percent | 175,000 euros |
| Your deposit | 75,000 euros |
| Taxes and costs (about 12 percent in the Valencia region) | about 30,000 euros |
| Cash you need | about 105,000 euros |
| Monthly payment, 25 years at an illustrative 3 percent fixed | about 830 euros |
Now the 40 percent rule. Suppose you pay 1,600 a month on your Irish mortgage and nothing else. Adding 830 for Spain brings total debt to 2,430 a month, which needs combined net income of about 6,075 euros a month to pass. Rates move and every case is different, so treat these as shapes rather than promises, and run your own numbers on our Spanish mortgage calculator, which uses live rates and real buying costs. For a straight answer on whether a bank would take your case, the two minute My Score check applies the same eligibility maths a Spanish bank does.
Should you take a Spanish mortgage or pay cash?
Plenty of Irish buyers pay cash, especially those who have sold something or built savings for years. Cash is simple and it makes you a fast buyer. It is still worth running the mortgage comparison before you wire the money, because a euro mortgage can be the smarter route even when you do not need one.
- You keep your capital. Putting down 30 or 40 percent and borrowing the rest leaves the balance liquid or invested instead of locked into bricks in Spain.
- No currency risk at any point. A euro mortgage on a euro-priced home, paid from euro income. Nothing to hedge, nothing to time.
- The bank checks the property too. A Spanish lender only lends after its own valuation and checks. On a purchase you are running mostly from Ireland, a second set of professional eyes on the asset is worth having.
- You stay diversified. Every euro you do not sink into the apartment is a euro that is not exposed to a single property in a single town.
The honest other side: a mortgage adds fees, valuation costs and monthly obligations, and if the loan would be small or your income is hard to prove, cash can win. We tell clients which side of the line they are on before anyone commits to anything.
Can you use your Irish bank?
No, in almost every case. AIB, Bank of Ireland and PTSB do not lend against Spanish property; an Irish bank’s security sits in Ireland, full stop. The realistic routes are a Spanish mortgage secured on the Spanish home, or raising money against your Irish home and buying in Spain as a cash buyer. Topping up an Irish mortgage for this is possible with some lenders but it is constrained, and it shifts the risk onto your family home. Which route is cheaper depends on the rates on each side, and it is exactly the comparison we run for clients before they decide.
The EU citizen advantage
It is easy to underrate what an Irish passport is worth in this market. As an EU citizen you have freedom of movement: no 90 in 180 day limit, no visa, nothing to apply for. Spend the whole winter in Spain if you like. If you ever decide to live there, becoming resident is a registration process, not an immigration application, and residents borrow more (up to 80 percent) and often at better rates.
What paperwork will a Spanish bank want from Ireland?
This is where a well-packaged file wins or loses, and it is the part we do for you. Spanish banks know exactly what they want; they just want it in their shape, not Revenue’s. Here is the translation.
| The bank wants | From Ireland that means |
|---|---|
| Identity | Passport, plus your NIE (the Spanish foreigner ID number, see below) |
| Proof of income, employed | Last 3 to 6 payslips plus your Employment Detail Summary from Revenue (the document that replaced the P60) |
| Proof of income, self-employed | Form 11 returns and Notices of Assessment for the last 2 to 3 years, plus business accounts |
| Bank activity | Last 6 months of statements on your main accounts |
| Existing debts | Your Central Credit Register report, free from the Central Bank of Ireland. Spain’s own credit register cannot see Irish borrowing, so the bank asks for the Irish record instead |
| The property | Once you have found it, the arras contract and property details for valuation |
Everything can be gathered from Ireland, most of it online through Revenue and your banking apps, and our online application gives you a checklist tailored to your situation, encrypted uploads and visible progress, with a real adviser on the other end. If your income is complicated, self-employed, director salary plus dividends, bonus-heavy, this is exactly the packaging work that decides whether a bank says yes, and it is where a broker earns their place. More on that in our guide to choosing a mortgage broker in Spain.
One useful thing to know: Spanish banks cannot see your Irish credit history, good or bad. What matters is what you declare and document now. If you want to understand how Spanish banks assess risk without a local history, our guide to credit scores in Spain explains it.
The buying process, compared with Ireland
The Spanish process has different names and one crucially different moment. Here is the map, step by step.
Your NIE. Every foreign buyer needs an NIE, the Spanish identification number for foreigners. From Ireland you can apply through the Spanish Consulate in Dublin, apply in Spain, or have a lawyer obtain it under power of attorney, which is what most of our clients do. Details on our NIE page.
Do you need to fly out? For viewings, yes, and you should. For everything else, no. The mortgage, the legal work and even completion can run without you in Spain; a power of attorney lets your lawyer sign at the notary on your behalf. Plenty of our clients do the entire process from Ireland and collect the keys on their next flight out.
What are the taxes and costs when you buy?
Budget 10 to 13 percent of the purchase price on top, and treat anyone who tells you less with suspicion.
- Resale homes: transfer tax (ITP), set by region: 10 percent in the Valencia region (Costa Blanca), 8 percent in Murcia, 7 percent in Andalusia (Costa del Sol). It is charged on the higher of the price and the official reference value, and due within 30 days of signing.
- New builds: 10 percent VAT (IVA) plus stamp duty of around 1.5 percent depending on region.
- Notary, registry and legal fees: usually 2,000 to 4,500 euros combined depending on price and complexity.
- Mortgage costs: since 2019 the bank pays most mortgage taxes and fees; you typically pay the valuation, a few hundred euros.
What will the property cost you each year?
Nobody should buy abroad without seeing the running costs first.
- IBI, the local council tax, commonly a few hundred to around a thousand euros a year on typical coastal homes.
- Community fees if the property shares facilities, from modest to substantial if there are pools and gardens.
- Non-resident income tax (modelo 210). Spain taxes non-resident owners on an imputed income even if the home is never rented: the taxable base is 1.1 or 2 percent of the cadastral value, taxed at 19 percent for EU residents, Irish included. Usually a small amount, but it must be filed every year, and it is one of the most commonly missed obligations.
- Insurance and utilities, much as at home.
Renting it out when you are not there
Most Irish buyers plan at least some letting, and the rules deserve a clear-eyed look before you buy with rental income in mind.
- Holiday lets need a licence. Regions control tourist rentals and several popular areas have tightened or capped licences. Whether a specific property can legally be let short-term is a due diligence question to answer before the arras, not after.
- Spanish tax: as an EU resident you pay 19 percent on rental profit and, unlike non-EU owners, you can deduct expenses: mortgage interest, IBI, community fees, repairs, agency costs.
- Irish tax: as an Irish tax resident you declare worldwide income, so Spanish rent is declared in Ireland too, with a credit for the Spanish tax paid under the double taxation agreement. You do not pay twice, but you do file twice.
- Do not let the rental projection buy the property. Banks lend against your income, not the flat’s imagined bookings, and so should your own maths.
The Irish tax side
You will remain Irish tax resident if you spend 183 days a year in Ireland, or 280 across two years, and Irish residents are taxed on worldwide income and gains. Three things to have on your radar, all of them manageable and none of them a reason not to buy.
- Selling later: Spain charges non-residents 19 percent on the gain, and Irish CGT, currently 33 percent, also applies, with a credit for the Spanish tax under the treaty. Spain also withholds 3 percent of the sale price on account when a non-resident sells.
- Inheritance: the Ireland-Spain treaty covers income and gains, not inheritances, so Spanish succession tax and Irish CAT can both arise. Relief is generally available so the same asset is not fully taxed twice, and regional Spanish allowances for close family are now generous in most of the coast. The practical answer is a Spanish will alongside your Irish one, which keeps the Spanish side clean and fast. We help clients arrange this.
- Get real advice. Two countries, two filings, and everyone’s position is different. We flag the issues and work alongside your tax adviser rather than pretending a web page is advice.
Where are Irish buyers buying?
The Costa Blanca and the Costa del Sol take the biggest share of Irish purchases, with the Costa Calida in Murcia and the islands close behind. The draws are obvious: year-round flights from Dublin, Cork, Shannon, Knock and Belfast into Malaga, Alicante and Murcia in under four hours, established international communities, and coastal prices that read like a misprint to anyone browsing from Ireland.
Banking in Spain is national, so none of this limits where we can help you buy. The lenders, the process and the law are the same wherever the property is, and we work with buyers across the whole country, mainland and islands. Our office is near Malaga, so if your search is on the Costa del Sol you are welcome to come and sit down with us; everywhere else, the whole process runs over the phone and the portal, as it does for most of our clients anyway.
The mistakes Irish buyers actually make
After years of Irish files, the same handful of errors keeps appearing.
How Foxes helps Irish buyers
We are a mortgage and legal team in one company: Bank of Spain registered brokerage on one side, Spanish property lawyers on the other, one file and one point of contact from first call to keys. We assess your case honestly, package your Irish paperwork the way Spanish risk teams want to read it, put your file to the best-fit lenders chosen from every major lender in Spain, and negotiate the offers side by side. The legal team runs due diligence, the arras and completion on the same timeline, which is how the deadline mistakes above get designed out. Advice and lender comparison are free, and our fees are only due when a bank issues a formal offer you accept.
What to do next
Start with ten minutes and no phone calls. Run the Spanish mortgage calculator to see what a purchase really costs and what it means monthly. Take the My Score check for a straight answer on eligibility. Then, if the numbers look right, book a free consultation and we will tell you exactly where you stand.
Frequently asked questions
Can Irish citizens get a mortgage in Spain?
Yes. Irish buyers can borrow up to 70 percent of the purchase price as non-residents, with EU-standard documents accepted without apostilles and euro income counted at full value.
Can I use my Irish bank to buy in Spain?
No. Irish banks do not lend against Spanish property. The realistic options are a Spanish mortgage secured on the Spanish home, or raising funds against your Irish home and buying as a cash buyer.
How much deposit do I need to buy in Spain from Ireland?
Plan for 30 to 40 percent of the price, plus 10 to 13 percent on top for taxes and costs, which banks will not finance. On a 250,000 euro home that is roughly 105,000 euros in total cash.
How long can I stay in my Spanish home as an Irish citizen?
As long as you like. EU freedom of movement means the 90 in 180 day rule for non-EU visitors does not apply to you, and no visa is ever needed.
What documents do I need from Ireland for a Spanish mortgage?
Passport and NIE, payslips and your Employment Detail Summary (or Form 11 and Notices of Assessment if self-employed), six months of bank statements, and your Central Credit Register report. Everything can be gathered from Ireland online.
Do I pay tax in Ireland on my Spanish property?
While you are Irish tax resident, Spanish rental income is also declared in Ireland with a credit for Spanish tax paid, and Irish CGT applies on a later sale with the same credit mechanism. Inheritance needs separate planning as the treaty does not cover it. Take advice for your own position.
Do I need to go to Spain to complete the purchase?
Only for viewings. The mortgage, the legal work and completion itself can all be handled from Ireland, using a power of attorney for the notary signing if you wish.
Is the buying process safe for foreign buyers?
Yes, if you run it properly: an independent lawyer, legal checks before the arras contract, and a mortgage broker you have verified on the Bank of Spain register. Foxes is registration D470, and we handle the mortgage and legal sides together.
Ready to look at Spain seriously?
Run the Spanish mortgage calculator, take the two minute My Score check, or book a free consultation and get a straight answer on where you stand.
