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FAQ's
Frequently asked questions
1. Where in Spain do we have properties?2. What is the price range of the properties in Spain?
3. What are the additional costs?
4. What is the average cost of living in Spain?
5. What are the mortgage rates in Spain?
6. Can a person take out more than 1 mortgage?
7. What does the Bank require before agreeing a Mortgage?
8. What is the payment structure on buying a New property in Spain?
9. What is the payment structure on a Re- Sale property?
10. What does the Lawyer do for his 1% ?
11. What does the inspection trip include?
1. Where in Spain do we have properties?
We cover the entire Costa Blanca from Denia in the North stretching as far South as Port of Mazarron on the Costa Cálida.
2. What is the price range of the properties in Spain?
Prices start from 55’000 pounds (85’000 euros)
3. What are the additional costs?
Approx 10% - 7% VAT ( IVA) and 3% for Notoria and Land Registration fees but there is also a 1% fee for Legal fees with an independent English speaking lawyer, this is optional but we recommend this.
4. What is the average cost of living in Spain?
· Electricity and Water – 100 euros every 2 months
· Local Rates – 200 euros per annum
· Insurance ( contents ) – 150 euros per annum
· Community charges – 360 euros per annum
5. What are the mortgage rates in Spain?
Banks will provide up to 80% mortgages for non residents over a 25 yr period. The rate of interest is app. 5%
Bspain can provide with 100% finance for your property in Spain.
6. Can a person take out more than 1 mortgage?
Yes, they can.
7. What does the Bank require before agreeing a Mortgage?
A P60 plus last 3 pay slips are required , but if a person is Self Employed it is slightly different, they are required to produce the last 2 account books and 4-5 months of their bank account movements
8. What is the payment structure on buying a New property in Spain?
3’000 euros deposit – payment by CC, Cash or Cheque
25% after 30 days
25% after 90 days ( the 90 days being from the day they put down their deposit )
* All payments made are non refundable and come with bank guarantee*
The structure is as follows – the clt will pay the required 3’000 euros deposit ( they are fixing the price of property at the price it is NOW) and will then sign the purchase of property agreement form. We will then introduce the client to an Independent English speaking lawyer who will require 50% of the 1% fee at this stage, the balance being paid on completion. On the 30th day the clt will pay the 1st 25% instalment and a further 25% on the 90th day. On completion, when signing the title deeds the outstanding balance is required. We are in control of each phase of the construction of the clts property which we are able to do as we are the builders and before we offer the title deeds of the property to the clt we check that the property is 100% satisfactory.
9. What is the payment structure on a Re- Sale property?
Deposit of 3’000 euros
7 days later – 10%
Balance required( approx 60 days after day they put deposit down), on completion and when the purchaser will receive the title deeds to their new home
10. What does the Lawyer do for his 1% ?
The lawyer will check over the purchase of agreement paperwork. 2 weeks later he will receive the report on the property the clt has purchased and will examine all the legal aspects of this report, this is before the 25% fee is due on the 30 day agreement. The clt from this day on will be in direct contact with the lawyer until completion date. On completion the lawyer will accompany clt to the Notoria and will also deal with the obtaining of the clts NIE number
11. What does the inspection trip include?
· The Inspection trip includes return flights from their chosen airport to Alicante
· Hotel accommodation with all meals
· 4 days with one of our experienced Escorts
· 1 to 1 with our Escort
· The chance to buy the home of their dreams
Spain Office: +34 966 704 620 :: Free Phone from UK: 00800 6222 0222
BSPAIN UK :: Free Phone : 00800 6222 0222
BSPAIN IRELAND :: 1800 250 171 / BSPAIN DENMARK :: +45 70 25 42 00 / BSPAIN HOLLAND :: (0031) 30 697 1625
BSPAIN SWITZERLAND :: 0800 917 917 / BSPAIN ICELAND :: +354 5341599 / BSPAIN BELGIUM :: +32 475 614 923
BSPAIN LUXEMBOURG :: +32 475 669 537 / BSPAIN GERMANY :: 00 800 6222 0222 / BSPAIN LE MAROC :: +212 (0) 22980908
BSPAIN POLSKA :: + 48 606 45 35 48 / BSPAIN RUSSIA :: 8 (812) 30 90 644
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