Spanish Property and obtaining a mortgage from a Spanish bank
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Spanish Property and obtaining a mortgage from a Spanish bank |
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Click here for an in principle decision for a Spanish mortgage |
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Buying in Spain Spain's pleasant, healthy climate and wide selection of properties make it the most popular destination for an overseas property. Choose from developed plots, farmhouses and village locations, through to villas, townhouses and new apartment developments. Spanish property is as diverse as it is plentiful. Fincas A finca is a plot of land or an estate outside of or in-between towns and villages. Spanish properties advertised as fincas can run from tumbledown farmhouses to lavish modern villas. An advantage is that fincas generally come with a substantial amount of land, which may include olive groves and fruit orchards. Spanish Residency If you buy Spanish property, you may wish to spend more than six months in Spain, and this means applying for a 'residencia' to become a resident. Being a resident doesn't restrict movements in any way and it has many advantages, such as lower taxes. If you don't become a resident you must appoint a fiscal representative. The fiscal representative It's highly advisable for any person who intends to buy Spanish property, but doesn't live there all the time, to nominate a fiscal representative. This is a person to whom the tax authorities can send all correspondence relating to your affairs in Spain, secure in the knowledge that it will arrive. The fiscal representative must be resident in Spain, but it's for you to choose whom to appoint. It can be a friend, neighbour, lawyer or tax adviser. Spanish Property management
A Spanish property mortgage is as straightforward a process is as in the
UK. A number of documents must be furnished to the Spanish bank in order to
accommodate a smooth transaction. |
Spanish Mortgage and Spanish Property