To help you make the right decision about a Spanish property we can arrange an Inspection Trip to the Costa Blanca or Costa Calida for a period of 3 to 5 days.
There will be NO SALES PRESSURE on you at any time. However, property in Spain sells very quickly so you must be prepared to act decisively.
We take care of all the arrangements including flights, hotel accommodation and transportation - all we ask you to do is cover the cost of your flights.
However, if you decide to purchase one of our Spanish properties we will return the cost of your flight in full, upon completion of your purchase.
We will agree with you an itinerary detailing where you will be going and what you will be seeing during your visit. We are happy to include visits to schools, medical facilities, or other areas of interest, as we appreciate buying a home in Spain is not simply about finding a property.
Each trip is tailored to individual needs based on the information you provide us. All travel and accommodation arrangements will be made for you, which include collection and return to your Spanish airport.
The normal criteria for obtaining a Spanish mortgage are as follows 3 months proof of income, Last P60, If self employed 2 years certified accounts and last tax return, an Experian Credit check, Be younger than 65 and in good health.
Before you start looking at properties there are a few things you should do. The
most important part is that you understand how the buying process works. Below is
a simple guide.
Work out what you can afford
Decide your budget before you start looking.
And don't forget about the fees and taxes. It's best to add around 10% of the purchase
price for all these extra costs.
Decide what you are looking for
Consider all the factors
that could influence your choice of area and property, it will help us to better
understand your requirements and find the place that's right for you.
Get your reservation
Fee (deposit) ready
In Spain, it's usual to pay a small reservation fee to take your
chosen property off the market while your offer is either being negotiated or accepted.
It's normally 3000 Euros. This ensures that the property is reserved until you exchange
contracts with the vendor. This is held buy a lawyer and is returnable if the vendor
fails to complete. If you should pull out of the sale without due reason, this reservation
fee (deposit) is not returned.
Financial Guide
Interest rates in Spain are slowly rising, but they're still significantly
lower than in the UK and other parts of the world, which means your money could go
a lot further than you think. And when it comes to arranging a mortgage, you could
be in for a pleasant surprise when you find out how much you can afford.
Non Spanish Residents
Depending on your age (most loans have to be repaid before reaching
75), you can expect a mortgage term of up to 30 years.
Mortgages granted are normally
up to a maximum of 60% of the valuation price. And if you are buying off plan, this
is based on the property value on completion, not while it's still being built.
Mortgages
are based on being able to spend a percentage of your net income between 35% and
40% on your mortgage payments.
Additional Information
Euro, Sterling and US Dollar
mortgages are all available on a repayment, interest-only, basis.
Spanish lenders
assess loan eligibility on the applicant's ability to service the loan, and not on
any potential future rental income.
Subject to status, mortgages are available for
the following types of purchase: off-plan, existing freehold, rustic, new build,
or property in need of renovation.
On top of the purchase price, you should also budget
for additional costs (legal fees, IVA or property tax, notary, registration, etc.),
of approximately 10% of the purchase price.
Glossary of useful Terms
New Build Property
Property
that is owned by a developer/builder. All properties are sold freehold and carry
a minimum 10 years structural guarantee.
Quad house
A property linked by a rear courtyard
area to 3 other properties, a typical design in this area usually located on a small
urbanisation.
Resale property
A resale property is owned by a private individual, family
etc. we have over 5000 resale properties available to view for a variety of tastes
and budgets. However, the golden rule is that before you make an offer you should
be in a position to buy. Therefore, you need to be certain that you can raise the
finances before making the offer.
Placing a deposit
Once you have found a suitable
property a deposit is required to reserve that property and remove it from the market.
The normal deposit amount is 3.000 euros. This 3.000 euro is held by a lawyer until
the sale completes, normally within 12 weeks.
Signing the agreement contract
When putting
a deposit on a property you must sign an agreement contract thereby reserving the
property. This agreement will list a breakdown of payment dates and will also act
as a receipt for the 3.000 euro deposit.
Completion Date
The completion date is the date agreed between both parties when the
title deeds are signed to the new owner(s).
Land Registry Office
This is where all
Escrituras (title deeds) relating to property transfers are registered after taxes
have been paid and where the title and any charges against the property can be checked.
Taking
Possession
The handing over of the property and the keys will normally take place
only when the full purchase price and all fees have been paid on the completion date.
Taxes
Hacienda
& Capital Gains Tax? A tax that is paid on the gain made on a property when it is
sold; the rate of the tax can vary. Your solicitor or fiscal representative will
be able to provide accurate and up to date information.
Follow to get back to the top.
For more details follow the links below
Rentals Terms and Booking Conditions
Payment
Forms of Payment
What is included in the
rental
What is not included
Breakage deposit
Insurance
Rental Period
Occupancy
Keys and
Directions to the property
Conduct
Damage to the villa and its contents
Private swimming
pool
BBQ and outside kitchen
Excessive Cleaning on Departure
General Maintenance
Power
Personal/Public
Liability
Cancellation
Work out what you can afford
Decide what you are looking for
Get your reservation Fee
(deposit) ready
Financial Guide
Non Spanish Residents
Additional Information
Glossary
of useful Terms
New Build Property
Quad house
Resale property
Placing a deposit
Signing
the agreement contract
Completion Date
Land Registry Office
Taking Possession
Taxes
All information contained on our website has been compiled from up to date details
and we have taken care to ensure its accuracy. There may however be occasions when
an advertised facility is either modified or unavailable. Such situations may be
dictated by local circumstances, necessity for maintenance, local construction work,
water shortages, adverse weather, fuel shortages, power cuts, and other circumstances
beyond our control. If we are advised of this, we will of course inform you as soon
as possible, but we cannot be held liable in such circumstances. It is important
to remember that some facilities, perhaps such as beach restaurants, water sports,
water parks, or swimming pools etc. may not operate at all times of the season.
Rentals Terms and Booking Conditions
To confirm your booking implies that you have
read, understood and agreed to the following terms and conditions.
Payment
A booking
deposit of 20% of the total cost for the duration of your stay must be paid within
7 days of confirmation of your booking. This is non-returnable in the event of any
cancellation. The balance becomes due 8 weeks before arrival. The company reserves
the right to re-let the accommodation if payment is not received in the specified
time period. For any client booking within 8 weeks of their arrival date, payment
must be made in full.
The submission of the client's deposit indicates acceptance of these terms and conditions,
which form a part of the contract between the client and the company.
Forms of Payment
All
payments prior to your arrival date should be paid by Internet bank transfer (electronic
bank transfer) For Euro payments we accept bank transfer via international money
transfer (IBAN). All Payments made during your stay shall be made in cash Euros.
What
is included in the rental
Unless otherwise stated the villa rental includes cost of
All utility Bills (Electric, Water, Gas etc), check in / check out, Pool and Garden
Maintenance include Bed linen & Towels (1 large & 1 small person) but not Beach or
pool Towels. Iron and Board included but Hairdryer not normally included. Owners
may also provide other items.
What is not included
The villa rental prices do not include personal travel or cancellation
insurance, airport transfers or Departure Cleaning and Laundry. Cleaning & Laundry
charges as explained above must be paid before entry into the property in cash.
Breakage
deposit
On arrival at the property you will be required to pay a breakage deposit
in cash Euros (or sterling) to the amount on your booking confirmation, this will
be refunded to you on departure in full subject to no damages? If on departure there
are damages, we will determine the cost to be deducted.. If the damages exceed the
amount of the breakage deposit, you will be required to pay the extra in cash before
departure. We will confirm the time to meet you at the property on departure.
Insurance
We
strongly recommend that insurance is taken out against cancellation and it is strongly
recommended that personal accident and medical insurance is also taken out.
Rental
Period
The rental period is from 16.00hrs on the day of arrival, up to 10.00hrs on
the day of departure. These times can be flexible subject to no other parties checking
out on your arrival day or arriving on your check out day. Late checkouts can be
arranged in advance, we do not supply bag holding on the last day of the stay.
Occupancy
The
property is booked for normal holiday use only. The number of occupants must not
exceed the maximum occupancy as stated, unless prior permission is given for a baby
cot or similar. Pets/animals are not allowed except by prior consent of the owners.
Should it come to our attention that the property is being used in an unsuitable
manner, you agree to leave the property immediately without refund.
Keys and Directions to the property
Detailed instructions for key collection and directions/maps
to the villa will be advised, we will meet you at the villa on arrival to personally
hand over the keys and introduce you to the property. Also the Cleaning fees and
deposit are payable at this point.
You are solely responsible for the keys of the property whilst they are in your possession
and for there safe return us. Should you lose the key/s, misplace them have them
stolen at or away from the property you are solely responsible to pay all locksmith
costs.
Conduct
The hirer is responsible for taking all reasonable care of the property and
its contents. The hirer shall ensure that no member of the party engages in any activity
in or around the swimming pool which may cause damage or offence to the neighbours,
pollution to the water or damage to the structure or filtration equipment. Disruptive
behaviour caused by loud music and/or late night/early morning rowdiness will not
be tolerated.
Damage to the villa and its contents
Except in the case of normal wear
and tear the hirer will be responsible for making good any damage to the villa or
its contents which has occurred due to negligence, wilful damage or irresponsible
behaviour on the part of those occupying the villa or its guests.
Private swimming
pool
All guests are required to shower before using the private swimming pool, if
this is not followed there is a possibility of the pool turning green. Should this
happen, we will send a pool technician, however you will be required to pay a call
out of €80 in cash and the pool becomes inaccessible for 48 hours or longer.
BBQ and
outside kitchen
All BBQ´s and outside kitchen on arrival are ready for use. On departure
they must be left the same ready to use condition. We do charge a €50 fee if we have
to clean BBQ´s & outside kitchens.
Excessive Cleaning on Departure
When checked before
departure, if the property if left in dirty or extremely untidy, we will charge an
extra cleaning fee of between €50 - €200 taken from the breakage deposit.
General Maintenance
The guests are responsible for informing us immediately should
any maintenance problem occur at the property during their stay. We cannot authorize
any large maintenance requirements without prior agreement from the property owner.
Power
Properties in Spain are sometimes allotted a limited amount of electricity
(3 - 6 kilowatts). Although it happens very seldom, the use of too many appliances
at the same time will flip a circuit breaker and shut off the electricity. This does
not mean that there has been a power failure, only that a breaker in the house has
been triggered and needs to be switched back on. As in the U.S. and other European
countries, the panel is often located inside the house. Please be careful to limit
the simultaneous use of electrical appliances. Please also be aware that general
power outages do occur. We are not liable if power is lost.
Personal/Public Liability
Whilst
we take every care in selecting all relevant parts of your holiday, we cannot be
held responsible for any injury, loss, or damage however caused at any property.
Cancellation
All
cancellations of bookings must be in writing by email / post. If cancellation is
more than 8 weeks before your arrival date then the deposit only will be forfeited.
If cancellation is less than 8 weeks before departure, the following payment refunds
apply.
6 - 8 weeks before arrival date 25% of total payment returned (deposit non-refundable)
4
- 6 weeks before arrival date 10% of total payment returned (deposit non-refundable)
0
- 4 weeks before arrival date - 0% of the total payment returned (deposit non-refundable)
