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Andorra – Property Financing

Mortgages for Foreign Nationals in Andorra

Foreign nationals considering purchasing property in Andorra may be curious about the availability of mortgages from local banks and lenders. Andorra, a small European country located between France and Spain, does provide mortgage options for foreign nationals, although the eligibility criteria and conditions may differ from those for residents.

Local banks in Andorra typically offer mortgage services to both residents and foreign nationals. However, foreign buyers should be aware that the mortgage process in Andorra may have specific requirements that they must meet to qualify for a mortgage.

It’s advisable for foreign nationals interested in obtaining a mortgage in Andorra to contact local banks and financial institutions for detailed information on mortgage options, eligibility criteria, and the application process.

Local Lenders Providing Mortgages

Several local banks and financial institutions in Andorra offer mortgage services to individuals looking to purchase property in the country. Some of the prominent local lenders include:

  • Andbanc: Andbanc is a well-established bank in Andorra that provides mortgage solutions to eligible borrowers.
  • Credit Andorrà: Credit Andorrà offers a range of financial services, including mortgage financing, for property buyers.
  • Banc Sabadell d’Andorra: Banc Sabadell has a presence in Andorra and provides mortgage options for both residents and foreign nationals.

Each of these lenders may have specific mortgage products, interest rates, and requirements, so it’s essential for foreign nationals to contact them directly or visit their websites for comprehensive information on mortgage offerings.

Required Deposit When Buying Property

The deposit required when purchasing property in Andorra can vary based on factors such as the property’s purchase price and the lender’s policies. Generally, property buyers in Andorra are expected to provide a deposit of around 10% to 20% of the property’s purchase price as part of the transaction.


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Buyers should be prepared to make this deposit upon signing the sale agreement, and it is typically held in escrow until the closing of the property sale. The specific amount and terms of the deposit will be outlined in the sales contract, and buyers should carefully review these details with their legal advisors.

It’s advisable for buyers to work closely with their real estate agents and lenders to understand the deposit requirements associated with their chosen property and to ensure a smooth and secure property transaction in Andorra.

Responsibility for Outstanding Debts

When acquiring property in Andorra, new property owners should be aware of any outstanding debts or encumbrances associated with the property. These outstanding debts may include property taxes, utility bills, or other financial obligations tied to the property.

Typically, when a property is sold in Andorra, the responsibility for settling any outstanding debts on the property rests with the seller. It is customary for the seller to clear these debts before the property transaction is finalized. However, buyers should take precautionary steps to ensure that all outstanding debts are resolved during the property purchase process.

Collaborating with a qualified attorney or real estate professional is advisable for conducting thorough due diligence on the property’s financial status and ensuring that the property is free from any encumbrances or debts that could affect the new owner.

Incorporating appropriate clauses in the sales contract can also help safeguard the buyer’s interests and specify the responsibilities of both parties concerning outstanding debts and financial obligations related to the property.

In conclusion, foreign nationals can secure mortgages from local banks and lenders in Andorra, though eligibility requirements may apply. Researching and reaching out to local banks is crucial for obtaining detailed information on mortgage options. Property buyers in Andorra should be prepared to provide a deposit, typically ranging from 10% to 20% of the property’s purchase price. When purchasing property, buyers should ensure that any outstanding debts or financial obligations associated with the property are resolved, which is generally the responsibility of the seller. Engaging legal and real estate professionals is recommended to navigate the property acquisition process in Andorra successfully.


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