Spanish Mortgage Approvals June 2026 vs June 2025

• Total mortgage approvals (May 2026): approximately 42,700, up 12.8% YoY from May 2025
• Non-resident mortgage approvals: approximately 4,800, up 18.4% YoY
• Median approved amount: €188,000, up 6.2% YoY
• Median approved fixed rate: 3.4% (down from 4.1% May 2025)
• Median approved variable rate margin: Euribor + 1.6%

Non-residents now account for 11.2% of all Spanish mortgage approvals, the highest share since 2007. The 2015-2023 range was 6-8%.

What is driving the June 2026 uplift

Three factors, in order of impact:

1. Fixed rate compression. Spanish 30-year fixed mortgage rates for non-residents ran 4.5-5.0% at the start of 2025. By May 2026 the same product runs 3.4-3.8%. On a €200,000 loan over 30 years, the monthly payment drops from €1,073 to €886, a €187 monthly saving that materially changes the affordability threshold for a marginal buyer.

2. New-build supply constrained. Alicante province new-build permits ran +4% YoY in Q1 2026 but transaction growth ran +16.4% in the same period. That gap forces buyers into resale, which requires mortgage funding at a higher share of purchase price than off-plan (off-plan buyers often pay 20-30% in staged cash payments before mortgage draw-down).

3. Foreign buyer inflows. UK buyers rebounded strongly in Q1 2026 (+22% YoY, per the Bank of Spain data), and the German and Belgian buyer segments have been growing steadily. All three groups traditionally fund at 60-70% LTV mortgages.

Non-resident mortgage market in 2026

Best-in-market non-resident mortgages as of June 2026:

• Sabadell: 3.4% fixed 30 years, 65% LTV maximum for EU residents, 60% LTV for non-EU. €1,200 arrangement fee.
• BBVA: 3.5% fixed 30 years, 70% LTV EU / 60% non-EU. €900 fee.
• UCI (Unión de Créditos Inmobiliarios): 3.6% fixed 25 years or 3.4% variable Euribor+1.5%, 70% LTV, specialised in non-residents.
• CaixaBank: 3.7% fixed 30 years, 70% LTV EU / 60% non-EU. €1,000 fee.

Documentation required at application (unchanged from Q1 2026):

• Last 3 tax returns from home country
• Last 6 months of bank statements
• Employment contract or business ownership documents
• Debt inventory (existing mortgages, credit cards, loans)
• NIE, passport, source-of-funds declaration

Typical approval timeline from application to firm offer: 4-8 weeks. Signing coordination adds another 2-3 weeks.

What this means for Wesna buyers

Two practical implications:

Fixed rate window is likely closing. The 3.4% median approved fixed rate in May 2026 is the lowest since Q1 2022. The 5-year fixed IRS swap that drives fixed pricing has bottomed in Q2 2026 and started to inch back up. Buyers with an active mortgage application should lock now rather than wait.

Non-resident LTV expanded quietly. UCI and Sabadell both moved to 70% LTV for EU residents in Q2 2026, matching resident-buyer terms. Non-EU (UK, US, Canada, Ukraine, Russia) buyers still cap at 60-65% LTV. Ukraine specifically returned to standard LTV terms in Q1 2026 after a 2022-2023 pause.

Sample inventory around the mortgage-friendly price bands

Buyers taking a 60-70% LTV mortgage on the Costa Blanca and Costa Cálida coast typically target the €150,000-€300,000 range where the mortgage payment lands under €1,000/month at current rates. Wesna active stock in this band includes:

• WES-2429B Murcia 2-bedroom apartment, 52 m², €100,000

• WES-2240 Lomas de Cabo Roig 1-bedroom, 52 m², €147,500

• WES-2402K San Miguel de Salinas 3-bedroom, 88 m², €190,000
• WES-2038 Denia 1-bedroom, 53 m², €260,000

Watch for July 2026 release

Bank of Spain publishes June 2026 data in the first week of August. Key numbers to watch:

• Total mortgage approvals vs the May 2026 baseline
• Non-resident share vs the 11.2% May reading
• Median approved fixed rate (leading indicator of the wider mortgage market)

Contact Wesna

For a property-specific mortgage projection at current 2026 rates, contact us. We work with Sabadell, BBVA, UCI and CaixaBank on the non-resident mortgage side, and coordinate the full purchase including remote-signing via power of attorney.

Related: Spanish mortgage for non-residents, Mortgage for non-residents Spain, 12-step non-resident checklist.