Spain mortgage guide
Mallorca mortgage guide
Mallorca is the Balearics' premier foreign-buyer market, with strong German, UK, Scandinavian and Swiss demand. This indicative guide covers LTV, costs and broker compatibility for buyers on the island.
Who buys in Mallorca
German buyers are the largest foreign segment in Mallorca, followed by UK, Scandinavian and Swiss buyers. Brokers here are experienced with higher-value, non-resident files.
Indicative LTV & costs
Indicative LTV for non-residents is generally 60–70%. In the Balearics, resale transfer tax (ITP) is tiered and rises on higher-value homes, so total costs can exceed 11–13% — confirm current bands before completion.
Higher-value valuations
Mallorca skews towards premium property. Lenders apply careful valuations on villas and rural fincas, and some restrictions apply to rural and protected land — broker guidance is valuable.
Frequently asked questions
Are taxes higher in the Balearics?
Resale ITP is tiered and rises with property value, so higher-value Mallorca purchases can carry above-average total costs. Confirm current bands before completion.
Can I get a mortgage on a rural finca?
Often yes, but rural and protected land can carry valuation and planning complications — an experienced broker helps assess lender appetite.
Does the platform cover the Balearic Islands?
Yes — our compatibility assessment covers all of Spain, including Mallorca and the wider Balearics.
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