Lombard lending · Spain
Lombard loans for Spanish property.
A Lombard loan is credit secured on a portfolio of securities. Used carefully, it can fund a Spanish property purchase without selling investments.
In short
A Lombard loan for Spanish property is a credit facility from a private bank, secured on your investment portfolio, used to fund a purchase in Spain. It is the same concept as portfolio-backed or securities-backed lending. As an illustration, a €1,000,000 eligible portfolio might support around €700,000.
Lombard loan versus Spanish mortgage
- Collateral: the portfolio, not the property
- Assessment: driven mainly by the portfolio, rather than Spanish income criteria
- Speed: often faster once the portfolio is in place
- Risk: market declines can trigger additional collateral or repayment requirements
- Combination: often used alongside a mortgage rather than instead of one
Using a Lombard loan responsibly
Start below the maximum lending value, keep liquidity buffers, diversify the pledged portfolio, and model what happens if markets fall 20–30%. Match the loan currency to your assets where possible, or understand the currency exposure.
Last updated 21 October 2026. Reviewed by Marbella Property Advisory.
Illustrative example
Portfolio-backed facility at c. 70% LTV
- Eligible investment portfolio
- €1,000,000
- Illustrative portfolio-backed facility
- €700,000
- Illustrative loan-to-value
- 70%
Portfolio-backed lending may be illustrated at up to approximately 70% loan-to-value where suitable. Actual lending value depends on portfolio composition, concentration, volatility, liquidity, currency, jurisdiction and lender approval.
Illustrative example
Financing 100% of the acquisition
A buyer could potentially finance the full acquisition, including the property price and associated transaction costs, by combining traditional property finance, portfolio-backed lending and available liquidity.
- Property price
- €2,000,000
- Taxes, legal, notary and acquisition costs
- €200,000
- Total acquisition requirement
- €2,200,000
- Traditional mortgage 50% of property price
- €1,000,000
- Portfolio-backed facility e.g. c. 70% of an eligible portfolio of c. €1.7m
- €1,200,000
- Total funded
- €2,200,000
- Cash sale of investments required
- €0
Financing examples are illustrative and do not constitute an offer of credit. Availability depends on the client profile, collateral, property, jurisdiction and lender approval.
Risks
What to understand before borrowing
- Interest applies, usually variable and linked to a reference rate.
- Approval is case-by-case and depends on the borrower, the portfolio, the lender, the property and the jurisdiction.
- Market declines reduce collateral value; additional collateral or repayment may be required.
- In a severe decline, the lender may sell pledged assets.
- Currency risk applies where the loan and assets are in different currencies.
- Leverage should be structured responsibly, with buffers below the maximum lending value.
DA Wealth Solutions
Property is only one part of the balance sheet.
Suitable clients may wish to keep portfolios invested, preserve liquidity, review asset allocation and overall leverage, and stress-test financing structures. That work is carried out by DA Wealth Solutions, a separate wealth and investment advisory business.
Marbella Property Advisory provides property advisory services and does not provide regulated investment advice.
FAQ
Questions buyers ask
What is portfolio-backed property financing?
A loan or credit facility secured on an eligible investment portfolio rather than on the property. The portfolio is pledged as collateral and can remain invested. It is also called Lombard lending or securities-backed lending.
How much can I borrow against a portfolio?
As an illustration, an eligible €1,000,000 portfolio might support a facility of around €700,000 (c. 70% loan-to-value). Actual lending value depends on portfolio composition, concentration, volatility, liquidity, currency, jurisdiction and lender approval.
Can financing cover taxes and purchase costs?
Depending on the structure, yes. A portfolio-backed facility can also be used toward transfer taxes, legal fees, notary, registration, valuation and other acquisition expenses, which is how 100% of the total acquisition can potentially be financed.
Does Marbella Property Advisory provide investment advice?
No. Marbella Property Advisory is a property advisory business. Investment and wealth advice, where relevant, is provided separately by DA Wealth Solutions or by your own bank or adviser.
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