Information for Buyers

Legal Info

We always strongly advise all of our clients to appoint a lawyer as soon as possible after paying your reservation fee.

We can help you to arrange this with our team of legal professionals as soon as your property has been selected.

Mortgage Info

Many Clients want to take advantage of loan facilities via a mortgage, so here are a few guidelines:

• Mortgages are available up to 70% of the purchase price of the property.
• A Euro mortgage is currently around 3.5% variable and this term can be up to 20 years.
• A valuation Fee is payable in order for the house to be valued by the Banks Valuation Expert.
• There are extra conveyance charges if a mortgage is arranged, as there are two escrituras. It is a good idea to check all the costs thoroughly before committing yourself.

Expenses

On all Spanish property purchases you will need to allow 10% of the purchase price to cover your buying costs.

This should be allowed for within your budget to take care of the various procedures listed below.

7% Tax on the value of the deeds

Lawyer’s fees (which includes the transfer of services into your name i.e. water, electricity and rates etc).

Notary fees - the Notary is an independent professional, whose job is to see that all contracts are raised and signed correctly. He will also raise the necessary searches prior to signing.