How to Transfer Money to Buy Property in Spain (2026 Guide)
Buying in Spain from the UK? How to send your deposit and completion funds, what the notary needs, and how to avoid losing thousands on the exchange rate.
Globe FX team · · 7 min read
In short
- You'll usually pay a reservation fee, a 10% deposit and the balance at the notary.
- The bank's exchange-rate margin often costs more than any transfer fee. On €600k it can be over £12,000.
- Open a currency account early and use rate alerts so you're not stuck with the rate on completion day.
In this guide
Buying a home in Spain is exciting. Moving a few hundred thousand pounds into euros is less so. Get it wrong and the exchange rate can quietly add the cost of a new kitchen to your purchase.
This guide walks through how the money side works, from reservation deposit to completion at the notary, and how to keep more of your pounds along the way.
The payments you'll make
Most Spanish purchases involve three or four payments:
- Reservation deposit. Often a few thousand euros to take the property off the market.
- Private purchase contract deposit. Commonly around 10% of the price, paid when you sign the contrato de arras.
- Completion. The balance, paid when you sign the deeds (escritura) in front of a notary.
- Taxes and fees. Transfer tax or VAT, notary, land registry and legal fees, usually paid around completion.
If you're buying off-plan, the developer will usually ask for stage payments during the build as well. Our payment planner maps these out in pounds.
What you'll need before you send anything
- An NIE number. Spain's foreigner identification number, needed to buy property.
- A Spanish lawyer. They'll check the title and often hold funds in a client account until completion.
- Proof of where your money came from. Spanish notaries and banks have strict anti-money-laundering checks. Keep records of your savings, sale proceeds or mortgage.
This article is general information, not financial, legal or tax advice. Exchange rate examples are illustrative. Speak to a qualified professional about your own situation.
