At a glance
Key facts
Figures reviewed:
- Typical arras deposit
- 10% of price
- Usual arras window
- 30 – 60 days
- Spanish mortgage to drawdown
- 5 – 10 weeks
- Bridging to drawdown
- 2 – 5 weeks
- Bridging LTV
- Up to 65%
- Bridging term
- 3 – 24 months
Indicative figures for guidance only, correct as at August 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.
Methodology and assumptions
- Figures are compiled by Clifton International specialists from live lender term sheets, indicative quotes and completed transactions arranged over the preceding 12 months.
- Rates and costs are stated as ranges rather than a single number because pricing is set case-by-case on borrower profile, residency, asset type, location and loan-to-value.
- Timelines assume a complete document file from the outset; valuation, legal capacity and (in Spain) NIE and notary availability drive the critical path.
- Costs exclude any lender, broker or third-party fees not stated on the page, and exclude currency movement between agreement and drawdown.
- Figures are reviewed at least quarterly and re-checked against lender pricing whenever a material market change occurs.
Last reviewed . Read the full Key facts methodology, or speak to our team for a quote based on your circumstances.
Can you complete a Spanish property purchase within a 30-day arras deadline?
Rarely with a standard Spanish mortgage, which takes 5–10 weeks to drawdown. Within 30 days the realistic routes are cash, an extension agreed in writing with the seller, or short-term bridging secured on the Spanish property or another asset — bridging typically completes in 2 to 5 weeks and is then refinanced onto a mortgage.
- Arras penitenciales forfeits the full 10% deposit if you miss the completion date.
- Bridging is asset and exit led, so it avoids the slow income underwriting that delays mortgages.
- NIE, a lawyer with power of attorney and valuation access are the three critical-path items.
- Sellers will often grant a 2–4 week extension if funding evidence is provided early.
Key takeaways
- Standard Spanish mortgages take 5–10 weeks to drawdown — a 30-day arras deadline is outside that range in most cases.
- Forfeiting arras penitenciales means losing the full 10% deposit, so the cost of a bridge is usually far smaller than the cost of missing the date.
- Bridging in Spain can complete in 2–5 weeks where NIE, valuation access and clean title are in place.
- An extension to the arras, agreed in writing with the seller, is always worth requesting in parallel.
- The exit is a Spanish non-resident mortgage arranged over the following weeks without deadline pressure.
Your three options on a 30-day clock
With a fixed completion date, the choice is between a mortgage that is unlikely to land in time, an extension you do not control, and a bridge you do.
| Route | Realistic timing | Deposit risk | Cost |
|---|---|---|---|
| Spanish mortgage only | 5–10 weeks | High — deadline likely missed | Lowest rate, wrong timeline |
| Written arras extension | Depends on seller | Removed if granted | Free, but not in your control |
| Bridging then refinance | 2–5 weeks | Low | Bridge interest + fees for a few months |
Swipe the table sideways to see all columns.
Indicative figures only. Actual terms depend on borrower profile, asset and lender criteria.
What the arras contract actually commits you to
Most Spanish purchase deposits are paid under a contrato de arras penitenciales (Article 1454 of the Civil Code). It fixes the price, the property and — critically — the date by which the escritura must be signed at the notary. If the buyer does not complete, the deposit is forfeited. If the seller pulls out, they repay double.
Ten per cent of a €900,000 purchase is €90,000 at risk. That figure is the reference point for every decision below: the cost of short-term finance for a few months is almost always a fraction of the deposit it protects.
Two other forms exist — arras confirmatorias and arras penales — with different consequences. Your Spanish lawyer should confirm in writing which you have signed before you plan around a deadline.
Why 30 days is tight for a Spanish mortgage
A non-resident mortgage in Spain typically takes 5–10 weeks from application to drawdown, and 10–12 weeks where income is self-employed or the buyer is purchasing through a company. The time is not lost in one place — it accumulates:
- NIE issue or confirmation, and opening a Spanish bank account.
- Full income, tax and source-of-wealth documentation, often translated.
- Bank credit committee — usually weekly, and a single missing document costs a full cycle.
- Tasación (valuation) instruction, access to the property, and report turnaround.
- The FEIN/FiAE offer and the mandatory 10-day cooling-off period before signing.
That statutory 10-day window alone consumes a third of a 30-day arras period, which is why even a fast, well-prepared mortgage file struggles to land in time.
A realistic week-by-week plan
Days 1–3. Send the signed arras to your lawyer and confirm the exact completion date. Confirm NIE status for every buyer. Start funding conversations immediately — not after the lawyer's title report.
Days 3–7. Ask the seller, in writing, for a 2–4 week extension, evidenced with your funding position. Run the mortgage and the bridge in parallel rather than sequentially; the bridge is dropped at no material cost if the mortgage or extension lands.
Days 7–14. Heads of terms on the bridge, valuation instructed with agent access booked, and lawyer's due diligence under way — nota simple, charges, licences and community debts.
Days 14–25. Legal completion pack, power of attorney if you cannot attend, and euros positioned. Fixing the currency early removes the risk of a rate move between the arras and the notary date.
Days 25–30. Notary appointment, drawdown, escritura signed. The mortgage application then continues without deadline pressure as the bridge exit.
How the bridging route works
Short-term facilities are underwritten on the asset and the exit rather than on payslips, which is why they move faster. Typical shape: up to 65% of open-market value, terms of 3–24 months, interest serviced, retained or rolled, and drawdown in 2–5 weeks on a clean file.
Where the Spanish property alone does not provide enough leverage, an existing Spanish or international asset can be cross-collateralised to reduce the cash required at the notary.
Full criteria and worked examples are set out on our bridging finance for a Spanish purchase page, with indicative pricing in the cost of bridging in Spain guide.
Planning the exit before you draw
No bridge should be drawn without a documented exit. On a purchase under deadline the exit is almost always a Spanish non-resident mortgage arranged over the following two to three months, or the sale of an existing asset.
Start the mortgage file at the same time as the bridge so underwriting is already advanced when the property is yours. See bridging exit strategies in Spain for how lenders test an exit.
What the deadline costs you either way
On a €900,000 purchase with a €500,000 bridge held for four months, interest at roughly 0.8% per month plus arrangement fees lands in the region of €25,000–€30,000 including Spanish legal and valuation costs. Against a €90,000 deposit at risk and a property you would otherwise lose, the arithmetic is usually straightforward.
Purchase taxes and notary fees are payable regardless of the funding route — budget 10–12% on top of the price, as set out in our cost of buying guide.
Five mistakes that lose the deposit
- Signing arras before confirming NIE status for every named buyer.
- Assuming a mortgage agreement in principle equals a completion date.
- Waiting for the mortgage to fail before exploring bridging — usually week three.
- Requesting an extension verbally rather than as a signed addendum.
- Leaving the euro purchase amount unhedged between arras and notary.
Frequently asked
Questions from readers
What happens if I miss the arras deadline?
Under arras penitenciales the seller keeps the deposit — normally 10% of the price — and is free to remarket the property. There is no automatic grace period, so any extension must be agreed in writing before the date passes.
Can a Spanish mortgage complete in 30 days?
It is unusual. Non-resident mortgages typically take 5–10 weeks, and the mandatory 10-day cooling-off period after the binding offer alone uses a third of a 30-day window. Where the deadline is fixed, bridging is the practical route.
How fast can bridging complete in Spain?
Typically 2–5 weeks from heads of terms where NIE is in place, the title is clean and the valuer can access the property quickly. Cross-border or corporate structures add time.
Will the seller usually agree to extend?
Often, if asked early and backed by evidence that funding is progressing. Sellers generally prefer a short extension to remarketing, though a competing offer changes that calculation quickly.
Can bridging cover the purchase taxes as well?
Sometimes. Lenders size on value, so where leverage allows, part of the 10–12% purchase costs can be funded within the facility. Cross-collateralising another asset increases that headroom.
Is bridging available to US and UAE-based buyers?
Yes. Short-term lenders in Spain assess the asset and the exit rather than domestic income, which makes them well suited to US, UAE and other non-EU buyers whose documentation slows a bank application.