no pressure, no commitment Once you have made a decision to take a look at what Spain has to offer, we would be delighted to arrange an inspection visit at a time and for a duration to your circumstances.

We do not offer a 'free' flying visit in return for your individual attention on a whirlwind bus tour ! Instead we prefer to create an individual itinerary according to the properties you have selected and arrange for our local representative to drive you to each in turn, allowing time to take in the local area and, perhaps, a spot of lunch. If there are a large number of properties on your list, we may advise spreading the inspection over two or three days.

At the end of your tour, we will produce a summary of the properties visited for you to take away for further consideration. Our clients find this personalised agenda most helpful in making their final decision. And lastly, although we ask you to contribute to the initial cost of your inspection trip, we do refund your accommodation expenses (when arranged by us) on completion of your purchase.

Getting there

There are many airlines serving Alicante and Murcia ( San Javier ) international airports. Although we do not sell flights we would be happy to make enquiries with a number of suppliers and come up with a list of options having regard to your local UK airport, the duration of your visit and convenient flight times. If you have access to the internet, you will find dozens of deals and some remarkable fares being offered by today's low cost carriers such as Go and Buzz.

Where to stay

The choice is yours ! We can arrange a convenient hotel, or maybe a villa or apartment. Some our clients choose this self-catering option to experience the Spanish lifestyle for themselves.

Getting around

We would be more than happy to meet you at the airport and drive you to your accommodation. There is no charge for this service and it gives you chance to meet our representative and discuss your forthcoming inspection tour. However, if you would prefer to hire a car, this can be pre-booked for collection at the airport and we will issue easy to follow directions to your chosen accommodation.

Please call us for further details or with any questions you may have. We wish you every success in finding your place in the sun!

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Payment Terms

It is advisable to get the services of a solicitor, especially if you do not speak Spanish. The solicitor will arrange fiscal and legal matters, and can contract water, gas and electricity supplies. The costs of a standard package are between 800 - 1.200 Euro.

New property

After the signing of the contract you will be asked for a deposit of 3.000 Euro to be paid cash or in the form of a bankers draft which you should have with you. This secures your property for you and also fixes the price in law.

4 weeks later you will be required to pay 50 % of the total price. The final payment of 50% is due when your property is completed.

At this stage you will have to come out to Spain to examine your property before paying the final payment. You will make your visit to the office of the 'Notario' where your transaction will be legally recorded. At this time you will also be required to pay the 7% VAT and the notary fees and registration fees. These taxes and fees will usually amount to approximately 10% of the purchase price.

Resale property

A deposit of at least 10% of the purchase price will be required at the signing of the contracts and the balance in full to be paid upon completion, usually no more than one month after the contracts have been signed.

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Mortgages

Mortgage Loans

Variable rate mortgage loan
Fixed rate mortgage loan

Required Documentation

The following documents are requested when applying for a loan

Passport
Income tax returns (or P60)
Last three pay slips (Wage earners)
Real Estate valuation (arranged by the bank)

The amount you can borrow will depend on various factors. Two most important factors are your income and the value of the property.

The bank will send own surveyor to "valuate" the house. The mortgages are granted on a percentage of this valuation. The maximum mortgage in Spain is usually 80% of the value the bank surveyor give to the property. The normal term is 15 to 30 years.

Note that you must add expenses and fees totaling around 10 per cent of the purchase price, to the costs of a property.

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Taxes and Running Costs

As a non-resident property owner in Spain you are liable for three separate taxes every year.

1. Property owners imputed income tax
2. Wealth Tax
3. Annual real estate Tax

Property owners imputed income tax

You will pay this tax on a purely theoretical income based on 2 per cent of the Valor Catastral*.
You will be taxed at the flat rate of 25 per cent of the 2 per cent of the Valor Catastral.

*Valor Catastral- assesed value of property for tax purposes.

Example:
If you own a villa which has a real value of 150.000 Euro and a Valor Catastral of 40.000 Euro the Spanish Tax Agency will then calculate that 2 per cent of 40.000 Euro is 800 Euro of imaginary income. Taxed at 25 per cent, this gives a bill of 200 Euro.

Wealth Tax

You will pay Spanish wealth tax on your assets in Spain but you can deduct from your taxable assets any debts you owe in Spain.

The Spanish Tax Agency placed a very small tax on these assets. They will tax you at the rate of 0.2 per cent of the value declared in the Title Deed (Escritura), which is always higher than the Valor Catastral.
This rate of 0.2 per cent is up to assets of 167,129 Euro. After that, the rate goes up as assets go up.

Example:
If you own a villa which has a real value of 150.000 Euro and a value declared in Title Deed of 128.000 Euro then 0.2 per cent of this is 256 Euro which you will have to pay as the wealth tax.

Annual real estate tax (IBI)

This tax, based on Valor Catastral, can vary widely from town to town for the same type of property because it is a municipal tax.
If you live in a village house further away from the coast, your annual real estate tax could be as little as 60 Euro however if you own a villa on a golf course or close to the sea you could pay as much as 1,000 Euro.

Running costs

For the overview on all taxes and running costs to pay annualy see the table below.

* Standard fee to pay. The actual water and electricity consumption is not included in these amounts. The rubbish collection charges are inculded in these fee's.

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