Based on the purchase price, the amount of deposit available and your personal circumstances, we will arrange a mortgage quote from a reputable lender, this will show you a breakdown of all costs.
In Spain you can expect a mortgage of around 70% of the purchase price, in some cases 80% could be a possibility.
On top of your 20-30% deposit you will also need to cover legal costs and taxes which total to around 13% of the property price and this cannot be factored into the mortgage loan.
If you are a cash buyer you still need to factor in around an additional 13% for legal costs and taxes.
Once you have decided on a property/properties you would like to view, we can arrange an inspection trip at an affordable cost, if you have already found your property we can jump straight to arranging the finance.
We understand it can be stressful when purchasing a property, even more so when it’s in a foreign country.
Rest assured we have Spanish speaking English agents in Spain who will accompany you to all viewings and appointments to ensure everything runs smoothly.
If preferred we can also arrange to have a power of attorney in place to enable us to take care of everything if you are unable to be here throughout the process.
The first step would be to obtain an NIE number which is required for any economical transaction carried out in Spain.
*Please see our post explaining what an NIE number is and the process to obtain one.
The second step is to open your bank account, this will be with the mortgage provider. We have agreements in place with certain lenders to enable us to find the best deal for your requirements.
Once you have secured the property and the mortgage a solicitor will be required to carry through the conveyancing and completion of the sale. We have contacts with reputable solicitors, all legal costs and taxes will be quoted with the initial mortgage quote.
Once you have signed for your property and the keys are yours we will assist in setting up all utilities and ensuring that you have a grasp of the tax system and what will be due and when.
*Please see our post explaining tax implications when owning a property in Spain.
Please contact us to discuss your requirements further.