Mortgages..........
Mortgages..........
When you have found your ideal property a non-refundable holding deposit of
£2,000 will be required which is standard practice when buying a Spanish
property. This will guarantee the removal of the property from the market. This
deposit forms part of a legal contract, which holds the price of the property
as agreed at the time of paying the deposit and also guarantees you will not
be affected by any future price increases.
This sum will be held by the Lawyer, licensed property Conveyancer or developer
and the contract of sale will be drawn up for your agreement and signed. Should
you wish, further transactions can be completed in your absence, by granting
Power of Attorney to your agent or Lawyer.
Note: You are not required to pay with a bankers draft. A personal cheque or
a bankers card is acceptable as a £2,000 deposit by all bona-fide overseas
estate agents and developers.Click here
to find out more
If you are purchasing a new build property that is not yet started to be built,
or is in the process of being built, you will need to arrange your agreed payment
stages .These figures vary from development to development and builder to builder.
Before you enter into any contract you will be informed of the dates and amounts
of your payments. After the initial £2,000 holding deposit, a payment
of around 50% will be required within 30 days, with the balance paid upon completion
of your home.
If you are purchasing a resale property, or a new property that is already built,
it is different. After payment of the initial £2,000 holding deposit the
whole of the remaining balance will be required normally within 30 days.
For new build and re-sale, once your legal representative has finished their
searches and investigations and the monies are paid over, the title deeds are
finalised and the property is yours, all legally signed and secured.
There are three way ways of financing your Spanish home.
If you already have the full amount of property purchase price in cash in
a deposit account within the UK.
Your only consideration will then be the exchange rates between the pound and
euro when the various stage payments are required Click
here to find out more
You may decide to raise funds to purchase a property abroad, by way of re-mortgaging your own property in the UK which we are able to help you with. With interest rates still low this is a popular option. We can arrange for independent advice on this topic, either with your current lender or perhaps changing mortgage companies to a better deal. Fill in this form to speak to an advisor.
If you do not have the full cash funds available, and do not want to remortgage
a property in the UK then the other option available to you will be take a mortgage
out in Spain. A Spanish mortgage can be easily arranged by European Village
Agency, you will usually require a 50% cash deposit, before the mortgage can
be arranged.
Fill in this form to speak to an advisor.