Refinance
Refinance an existing Spanish mortgage or leverage an unencumbered property to improve terms, release equity or restructure across a portfolio.
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Last updated Reviewed by our Clifton International finance team.
In short
Yes. Both mortgaged and unencumbered Spanish property can be refinanced, typically to 65% LTV on residential and 60% on commercial. Owners refinance to cut rate, release capital, move to interest-only or restructure several assets into one facility.
At a glance
Figures reviewed:
Indicative figures for guidance only, correct as at July 2026. Rates, costs and timelines vary by lender, borrower profile, asset and jurisdiction, and are not an offer of finance. How we derive these figures.
Last reviewed . Read the full Key facts methodology, or speak to our team for a quote based on your circumstances.
At a glance
If the property is owned outright and speed is not critical, a term refinance is almost always the cheapest route to capital.
| Route | Max LTV | Indicative pricing | Time to funds | Best for |
|---|---|---|---|---|
| Term refinance | 65% residential / 60% commercial | ~4–6% p.a. | 8–12 weeks | Rate improvement and capital raise |
| Equity release | Up to 65% | ~4–6% p.a. | 8–12 weeks | Unencumbered assets, long-term capital |
| Bridging | Up to 65% | 0.7–0.9% pcm | 2–6 weeks | Urgent liquidity or a pending sale |
Swipe the table sideways to see all columns.
Indicative figures only. Actual terms depend on borrower profile, asset and lender criteria.
Popular Spain finance
Why clients choose us
Access newly competitive Spanish and international lender rates as the market evolves.
Unlock capital held in a Spanish property for reinvestment, business or personal purposes.
Consolidate short-term or high-cost facilities into a longer-term, lower-cost structure.
Move an amortising mortgage to interest-only where appropriate for the borrower profile.
Switch between EUR, GBP and USD denominations to align with income and asset base.
Cross-collateralise multiple assets to improve overall leverage and terms.
Borrower eligibility
Typical lending criteria
Indicative only. Actual terms depend on borrower profile, asset and lender criteria.
Recent transactions
Published transactions from our own case study library — select any to read the full brief.
Andalusia · Refinance
€2.2m · 55% LTV · 15-year interest-only
€2.2m 15-year interest-only refinance of an unencumbered €4m Andalusian estate — releasing working capital for a UK business acquisition without disposing of the asset.
Costa Blanca · Exit
€6m · 60% LTV · 18-month bridge
€6m 18-month development exit bridge with interest retained, allowing a Costa Blanca developer to sell 14 completed units at target values without discounting.
Madrid · Refinance
€5.1m · ~47.7% LTV · 13.5% p.a.
€5.1m mortgage-backed credit line completed on a €10.7m prime Madrid home — repaying a €1.6m bank mortgage and releasing liquidity for professional investment.
Frequently asked
Yes — this is one of the most common transactions we introduce, particularly for capital release.
Typically to a maximum LTV of 65% for residential and 60% for commercial, subject to affordability and lender criteria.
Typically 8–12 weeks from application to drawdown, depending on documentation and legal complexity.
This depends on the existing lender and product. This is factored in when the arranging intermediary structures the facility.
Lender appetite matrix
Resale apartment / villa — appetite across every buyer profile. Indicative panel appetite reviewed July 2026 — not an offer of finance.
UK buyer (non-resident)
Standard non-resident product; sterling income accepted with a currency haircut.
Buyer guideUS buyer (non-resident)
A subset of banks accept US persons; FATCA reporting drives the shortlist.
Buyer guideUAE / GCC-based buyer
Straightforward where salary certificates and bank statements are complete.
Buyer guideEU buyer (non-resident)
Euro income removes currency risk; best published non-resident pricing.
Buyer guideSwiss / Norwegian buyer
Treated close to EU profiles once income is evidenced in CHF or NOK.
Buyer guideSpanish resident / fiscal resident
Full resident product range with the longest available terms.
Corporate / SPV purchase
Residential lending to a company is priced as commercial debt.
Buyer guideProof of delivery
Spanish refinance, equity release and exit transactions arranged for existing owners.
€5.1m mortgage-backed credit line completed on a €10.7m prime Madrid home — repaying a €1.6m bank mortgage and releasing liquidity for professional investment.
€2.2m 15-year interest-only refinance of an unencumbered €4m Andalusian estate — releasing working capital for a UK business acquisition without disposing of the asset.
€6m 18-month development exit bridge with interest retained, allowing a Costa Blanca developer to sell 14 completed units at target values without discounting.
Spanish inheritance tax falls due within six months of death, and the property cannot be mortgaged or sold until the heirs are registered on title. Equity release, refinancing and bridging are the routes heirs use to settle the bill without a forced sale — and the amount due varies enormously by autonomous community.
Read the Spanish inheritance tax & succession guide for non-residentsRelated bridging & development finance
Dedicated landing pages for each bridging use case and development stage — with typical structures, eligibility and example transactions.
Time-critical acquisitions, auction, off-market and chain-break completions.
View pageRefinance existing Spanish debt, cancel embargoes and restructure onto cleaner terms.
View pageRelease equity from Spanish real estate to fund operating capital or growth.
View pageFast cash advance against Spanish property with a defined exit route.
View pageShort-term facilities for professional investors executing on Spanish opportunities.
View pagePartial land funding on consented and pre-consented sites, rolling into senior debt on planning grant.
View pageSenior debt for new-build residential and mixed-use schemes with staged drawdowns.
View pageRefurbishment and repositioning finance for existing Spanish buildings.
View pageFinance for schemes already under construction — completion funding and stretched senior.
View pageRelated services
Purchase finance for primary residences, second homes and holiday properties across Spain.
Learn moreSenior debt and stretched-senior facilities for residential and mixed-use schemes.
Learn moreInvestment and owner-occupier funding for offices, hospitality, retail and logistics.
Learn moreShort-term funding for acquisitions, auctions, chain-breaks and development exits.
Learn moreReady to explore your options?
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