Frequently Asked Questions

What other additional costs are there "on top" of the purchase price?
Allow between 10%-12% on top of the purchase price for legal fees, notary fees, land registry, IVA (VAT) or Transfer Tax and Stamp Duty. If you require a mortgage, the lender may charge an arrangement fee and survey fee (the same as in the UK).

Will the property be freehold?
Yes, the property will be freehold.

How is my money protected when purchasing on a development which is under construction?
Legislation introduced by the Spanish authorities is in place, ensuring property developers have bank guarantees and/or insurance to provide for the repayment of any monies in the event of bankruptcy.

Do you have re-sale properties?
Yes, we have a wide selection of resale properties.

Do I need to go to Spain to complete the legal process?
No; You can give your solicitor power of attorney to act on your behalf. However, it is advisable to attend if possible.

What about community charges?
With most new property development is Spain, there is a legal requirement for the purchaser to become a member of the community of property owners, known as "Communidad de Propietarios". Each owners' contribution is usually related to the size of their plot or apartment. The contribution is intended to cover the expenses related to maintenance, repairs, insurance .etc

What about finance to purchase?
If you are purchasing a new property or "off plan" it is usual for the developer to offer extremely attractive finance arrangements to their purchasers. It is always advisable however, to check the terms and conditions.

Should I use a UK or a Spanish lawyer?
The choice is yours, but your solicitor in the UK would still have to use the services of a spanish lawyer which would require the payment of two legal bills. Communications from a Spanish lawyer will be in english, so do not be concerned about understanding the documentation.

What will be my annual running costs?
As in the UK, this obviously depends on the size of the property you buy. As a guide the annual running costs for an average 2 bedroomed property in Costa Blanca South should be in the region of £600-£850. This should cover the costs of water, electricity, gas, local rates and contents insurance.

How do I open a Spanish Bank Account?
Your solicitor or agent may do this on your behalf. However, you will require two forms of identification; usually including a driving license and a passport.

Can I take my pets to Spain?
Yes, however you will need recent certificates for all relevant vaccinations from an authorised vet. Your vet will advise on the current procedures.

How good is the Spanish Health Service?
Health care in Spain is considered to be as good as in any country in Europe.

Do I still receive my pension if I live in Spain?
UK Retirement Pensions or other benefits can be paid directly into your UK or Spanish Bank Account. Further information is available from the UK Benefits Agency.

Can I rent out my Spanish property?
Yes you can. It is usually better to hire the services of a reputable rental agency in the location of the property.