Does it matter where the deposit came from?

Lenders are obliged to corroborate that the deposit comes from a legitimate source and that no debt was accrued to fund it

Mortgage lenders have a duty to establish that a deposit has come from a legitimate source. Such sources include savings, proceeds from the sale of a house, inheritance, or the liquidation of shares or assets.

You cannot accrue debt to fund a deposit or for it to be established by releasing equity from a property you already own. You cannot use deposits from tax havens. We will need to understand the source of your deposit before taking your Spanish mortgage application forward.