Mortgages for foreigners in Morocco
Getting a mortgage in Morocco as a foreigner is possible, although the conditions differ from those offered to residents. This guide explains which banks offer financing, the requirements, and how to maximise your chances of approval.
1. Which banks offer mortgages to foreigners?
The main Moroccan banks that work with foreigners are Attijariwafa Bank, BMCE Bank, Société Générale Maroc and Crédit du Maroc. Some French banks with branches in Morocco also offer products designed for non-residents.
2. Requirements to apply for a mortgage
You will need a valid passport, proof of income (payslips, tax returns from your home country), bank statements for the last 6 months, a preliminary purchase agreement, and a certificate of non-residence. Some banks require an additional guarantee or guarantor.
3. Financing conditions
The minimum down payment is usually 30% to 50% of the property value. Terms range from 10 to 20 years, with interest rates between 4% and 6.5% per year. Monthly repayments cannot exceed 35% of your monthly income.
4. The process step by step
First, choose a bank and submit your application. The bank will appraise the property and assess your profile. If approved, you sign the binding offer. The mortgage is then formalised before a notary together with the purchase deed.
5. Alternatives if you cannot get a mortgage
You can finance the purchase with a mortgage on another property in your home country, use your own savings, or agree deferred payments directly with the seller. Private lending companies also exist, though at higher interest rates.
Frequently asked questions
Can I use income in euros for the mortgage?+
Yes. Moroccan banks accept income in foreign currency, especially euros. You will need to demonstrate the stability of that income with documents translated into French.
How long does mortgage approval take?+
The full process usually takes between 4 and 8 weeks from application to signing, depending on the bank and the complexity of your file.
Can I repay the mortgage early?+
Yes. Moroccan law allows early repayment, although a fee of 1% to 3% of the outstanding capital may apply, depending on the contract.
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