First meeting with the bank about a mortgage: file, questions, timing

The conversation with the bank about a mortgage in Spain is prepared for before the flat search: you assemble the file on income and debts, work out your own funds and prepare the same questions for several banks. The law obliges the bank to assess employment, current and expected income, savings, fixed expenses and obligations already taken on, and not to rely mainly on the value of the collateral (art. 11 Ley 5/2019).

When to go to the bank

The first conversation is needed before a serious search, not after signing the arras (deposit contract). A typical mistake: the buyer agrees a price, pays the deposit and only then learns that the bank will lend less. The deposit is already paid and the deadlines are running.

A mortgage remains the main way of buying in Spain, but not the only one: according to notary data, in July 2026 a mortgage financed 56.1% of home purchases, with an average loan of 183,644 € (Alimarket). A bank's preliminary answer helps you search within a real budget, although it does not commit the bank to anything; more in the article on pre-approval.

What the bank must assess

The solvency assessment is the bank's duty under art. 11 of Ley 5/2019, and its content is set out in the law. The bank looks at employment, current income and income expected over the loan term, assets, savings, fixed expenses and obligations already taken on. The decision cannot rest mainly on the flat being worth more than the loan or going up in value.

Debts at Spanish banks the bank will check itself: the Banco de España expressly warns that the bank will request the CIRBE report (the Banco de España's central credit register) (Banco de España). If the loan is refused, the bank must say so in writing and without delay, explaining the reasons (art. 11.6).

Requirements for non-residents and for income from abroad are stricter and differ between banks. There are separate articles on this: mortgage for a non-resident and income from abroad.

Which documents to collect before the meeting

The exact list comes from the bank, but the basic file is almost always the same, and a complete package speeds up the answer.

1. Passport and NIE (foreigner's identification number).
2. Proof of income: payslips for recent months and an employment contract, and for the self-employed tax returns and accounts.
3. Tax returns for recent years.
4. Account statements showing income arriving and savings.
5. Details of current loans, leasing and cards.
6. For income from another country, documents from that country, often with a translation and sometimes with an apostille.
7. Proof of the origin of own funds, especially if they are transferred from abroad.

How much own money is needed: a worked example

A mortgage covers part of the price; the rest and the taxes are paid from own money. The share of financing is set by the particular bank, so in the example it is notional.

Worked example, not a forecast. A flat for 500,000 €, the bank notionally finances 70% of the price, a notional rate of 3.5% over 25 years.

In Catalonia ITP is charged on a scale: 10% on the part of the price up to 600,000 € (ATC). If the tasación (valuation) comes in below the price, the bank may calculate the loan from the lower value, and more own funds will be needed. Your own figures are easy to run in the calculator.

What the bank must provide before signing

The package of documents arrives at least ten calendar days before signing: the FEIN (Ficha Europea de Información Normalizada), the bank's binding offer, the FiAE (Ficha de Advertencias Estandarizadas) with warnings about the index, rate limits and costs, and the draft contract (art. 14 Ley 5/2019). No later than the day before signing the borrower attends the chosen notary, who checks the deadlines and gives explanations, and the record of this costs the borrower no notary fee (art. 15).

The law also allocates costs: the tasación is paid by the borrower; the gestoría (paperwork agent), the notary's fee for the loan escritura (deed) and the registration of the security are paid by the bank (art. 14.1.e). The bank may require home insurance, but must accept a policy from another company on equivalent terms without worsening the loan terms (art. 17.3).

What questions to ask each bank

The questions are asked the same way at all banks, so that comparable answers can be compared:

• type of rate and the index for the variable part;
• what share of the price or tasación the bank finances in your situation;
• rate discounts for payroll, insurance, cards and what those products cost per year;
• fees for early repayment and for changing terms;
• review time and what the borrower needs to provide at each stage;
• whether the bank will accept a tasación commissioned from another approved valuer.

When talking to the bank does not work

A meeting with the bank does not replace checking the property and does not settle the question of price: the tasación protects the bank's collateral, not the buyer. Nor will it help someone who arrives without understanding their own funds and the origin of the money: the bank will stop the process at that step anyway.

For a purchase for a short renovate-and-resell project, an ordinary residential mortgage suits poorly, as the logic there is different. And finally, one bank's answer does not show the market: terms are compared at no fewer than two or three banks or through an intermediary.