Click here to speak with one of our friendly advisors for independent advice on buying a property in Spain
Thinking of buying a property in Spain, please click on the link below
Property In Murcia
Spanish property Specialists in off plan villas with properties in Murcia, Costa Calida and Lorca.
We can arrange the following services:-
Mortgages
Currency Exchange
Legal Services
Mortgages
We will assist you with:-
Financing (or refinancing) for your new home or second property in Spain.
Arranging loans through providers with English speaking staff.
Advice on releasing equity on your UK residence either for a deposit or to fund your second home.
Establishing the most cost effective financing that is tailored to suit your circumstances.
Obtaining finance in sterling, Euro or a combination of both.
Currency (Link to Moneycorp)
You will require access to money brokers who will:-
Manage all of your currency conversion requirements in a friendly and professional manner
Have dealers who are available until 10.30 pm for your convenience..
Be more cost effective than using a high street bank.
Minimise expensive charges made by the receiving bank in Spain
Legal Services
It is essential that a Spanish lawyer be instructed to look after your interests who will:-
Have English speaking case managers to keep you informed
Establish title to land, check contracts, arrange conveyancing
Assist with notaries
Assist with local taxes
Advise on setting up a Spanish will
General Advice
Remember that prices are usually quoted before tax and do not include other necessary costs. Always allow 10% to 12% on top of the prices quoted. IVA (Sales Tax) is 7% on most of the costs and 16% on some of the services.
Use a local lawyer to ensure that all of the necessary permits are in place before paying out any money, or ensure that any deposit is refundable.
Use a reputable Estate Agent and shop around.
Inspection visits may be cheap but you only see one agent and you will be put under pressure to buy.
You will need an NIE number to open bank accounts and purchase property in Spain
Overview of Mortgage requirements
Spanish mortgages normally carry an arrangement fee of 1% of the loan up front.
Decide if a Euro mortgage is right for your circumstances. Exchange rates fluctuate from month to month and so your monthly payments are not fixed (even if you take out a fixed rate mortgage).
Generally, you will need a 25% or 30% deposit.
Construction mortgages available for design and build projects.
Loans may be fixed or variable
Interest only mortgages for up to 10 years available
Applicants must have clean credit and must have sufficient income after paying all UK mortgages and loans to be able to pay for the Spanish mortgage.
It is not possible to self-certify for Spanish mortgages
P60 and at least one pay slip
Last 2/3 years accounts required if self employed or accountants certificate
Last 6 months bank statements
The Financial Services Authority does not regulate some of the products and services listed.
Click here to speak with one of our friendly advisors for independent advice on buying a property in Spain
or please call 0800 197 3900
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