If you're purchasing an energy-efficient home or planning eco-friendly renovations, some Spanish banks offer green mortgages with favourable terms, such as lower interest rates. This initiative supports sustainable living and can lead to long-term savings.
There’s a moment that happens after 50. You’ve read the books, bought the watches, and leased the cars. You’ve stayed at the places with scent-branded lobbies and concierge apps. And suddenly, all you want is stillness—and light, and olive trees that don’t require a maintenance contract to keep their leaves green.
Mijas understands that instinct. It doesn't need to announce itself. A whitewashed town on the Costa del Sol, perched just far enough above the coast to feel cooler in the evenings and quieter in the mornings. It’s not a secret. It just doesn’t need a tagline.
Which makes it exactly the kind of place people are buying into. Not for buzz. For life.
According to Spain’s Colegio de Registradores, British, German, and Scandinavian buyers made up a significant share of Costa del Sol property transactions in 2024. In Mijas specifically, demand has risen steadily over the past five years, with high-net-worth buyers focusing on long-term relocation and retirement, not just second-home holidays. Financing has changed to meet them halfway. And if you know where to look, it’s more flexible—and less daunting—than you think.
First, What Kind of Home Are We Talking About?
People don’t come to Mijas to impress anyone but themselves. That’s the whole point.
Modern Villas in areas like La Cala Golf or Buena Vista give you sweeping sea views, private pools, and floor-to-ceiling everything. Think retractable glass walls, solar panels, and outdoor kitchens that actually get used.
Andalusian Townhouses in the Pueblo (Old Town) are for those who want to live inside something that looks like a painting. Wooden beams, terracotta floors, uneven walls that have seen better decades—but with broadband and bespoke lighting added discreetly.
New Build Apartments are also on the rise—designed with dual-living in mind: a base in Europe with all the light and square footage London flats never gave you.
You Don’t Need to Be a Banker to Understand the Financing
The traditional assumption is that anyone buying at this level is doing it in cash. And while that’s still true for many, smart buyers are structuring purchases more thoughtfully in 2025. Here's how:
1. Spanish Mortgages for Non-Residents
Yes, you can get a mortgage in Spain—even if you’re not a resident. Most banks offer up to 60–70% of the property value, and terms typically range from 10 to 25 years. Interest rates currently sit between 3.5% and 5.2%, depending on fixed or variable plans.
Local lenders like CaixaBank and Banco Sabadell have specialist branches for international buyers. They’ll ask for income proof, tax records, and a valuation. This isn’t a rubber stamp—expect some due diligence—but it’s straightforward.
2. International Financing Against Home Assets
Some buyers use equity or credit lines against existing homes in the UK or other countries. This is especially common for those who want to buy quickly and avoid Spanish bank bureaucracy—or who are waiting on asset sales to settle.
A good tax advisor can help you optimise which asset to borrow against and how to structure repayments across borders.
3. Developer or Vendor Financing
It’s rare but growing: certain developers offer in-house financing or deferred payment plans. This is usually reserved for new builds or off-plan purchases. It gives buyers time to structure their finances without missing out on a listing.Ultimate-lifestyles.com works closely with developers offering this option on selected properties in Mijas and nearby.
Mortgage terms in Spain typically range from 20 to 30 years. However, banks often require that the mortgage be fully repaid by the time the borrower reaches a certain age, usually between 70 and 75 years. This means that older applicants may face shorter loan terms.
What Else Do You Need to Know?
NIE Number
To buy property in Spain, you’ll need an NIE (Número de Identidad de Extranjero). It’s essentially a tax ID for foreigners and can be arranged through a Spanish consulate or local gestoría (legal office). Takes a few weeks. Don’t leave it to the last minute.
Legal Fees & Taxes
Total buying costs usually add 10–12% on top of the purchase price. That includes:
- Property Transfer Tax: 7%
- Notary & Land Registry: Around 1–2%
- Legal Fees: 1–1.5%
There’s also an annual IBI (council tax equivalent) and garbage collection fee. Compared to London or Geneva? It’s practically quaint.
Why People Stay
Buying in Mijas isn’t just about square metres and mortgage maths. It’s about what comes after.
The rhythm is slower but not stagnant. Mornings start with walks down to the market or a cortado on a terrace. Afternoons stretch. Evenings are social, but no one cares what car you pulled up in.
There’s golf (La Cala, Santana, Mijas Golf), of course. But also hiking trails that run into national parks. Horseback riding. Outdoor concerts in summer. Flamenco on Wednesdays if you know who to ask.
Food is serious, but not precious. El Mirlo Blanco still does its foie with figs and almond liqueur. Meanwhile, beach chiringuitos serve grilled sardines skewered over olive wood. You can spend €150 on dinner. You can also spend €12. Both work.
And people make friends. Real ones. From Belgium, Sweden, the UK, and more recently, the UAE and the US. The community isn’t built on passport colours—it’s built on the mutual understanding that life doesn’t need to be urgent all the time.
Working With Us Isn’t Just About the Paperwork
At ultimate-lifestyles.com, we do this every day. But we treat each client like it’s their first. Because it usually is.
We’re not here to dazzle you with square footage and aerial drone shots. We’re here to walk you through a town you might end up living in. Introduce you to a solicitor who’s bilingual and doesn’t waffle. And show you properties that don’t just photograph well, but feel right at 11am on a Tuesday when the sun’s in the kitchen and you’re barefoot.
Call Us. Or Just Come and See It For Yourself.
This isn’t about being sold to. It’s about seeing it, walking it, breathing it. If you want to start with a quiet viewing and a frank conversation—get in touch.📍 ultimate-lifestyles.com
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