Buying property in Spain as a British citizen

Since 1 January 2021, British citizens are no longer EU citizens and must meet additional requirements to buy and reside in Spain. However, there is no restriction on British citizens purchasing property in Spain. The process is largely the same, but with a few extra steps.

The main changes relate to residency: without a visa, you can only stay for 90 days within a 180-day period in the Schengen area. If you want to live permanently, you will need a non-lucrative residence visa or an investor visa (Golden Visa).

The NIE (Número de Identificación de Extranjero) is mandatory for any financial transaction in Spain: buying property, opening a bank account, setting up utilities, etc.

• You can apply at the Spanish Consulate in London or in person at a National Police station in Spain.
• Requirements: passport, form EX-15, proof of reason (e.g. reservation contract) and a fee (~EUR 12).
• Timeframe: between 1 and 6 weeks depending on the route.
• Your lawyer can obtain it on your behalf with a power of attorney.

You will need a Spanish bank account to pay taxes, utilities, community fees and the mortgage if applicable.

• Common banks: Sabadell, CaixaBank, BBVA, Santander.
• Documents: passport, NIE, proof of income or assets, and proof of UK address.
• Several banks offer English-speaking specialists for non-residents.

When buying a resale property in the Valencia Region, approximate costs are:

ITP (Transfer Tax)	10% of the declared price
AJD (Stamp Duty)	1.5% (new builds only)
Notary fees	0.5% - 1% of the price
Land Registry	0.3% - 0.5%
Lawyer	~1% of the price (highly recommended)
Plusvalía (municipal capital gains tax)	Variable (~0.5% - 1%)

Estimated total: 12% to 14% of the purchase price in additional costs.

If you invest EUR 500,000 or more in property, you may apply for a Golden Visa (investor visa), which grants residency without the requirement to live in Spain. Note: the programme is under review in 2026 and may be subject to changes.

Alternative: the non-lucrative residence visa, which requires proof of sufficient passive income (~EUR 2,400/month for one person) and private health insurance.

Spanish banks do grant mortgages to non-residents, typically up to 60-70% of the appraised value (compared to 80% for residents). Interest rates generally range between 3% and 4.5% variable.

It is advisable to consult an independent mortgage broker familiar with the non-resident market.