Before you travel | Finding the right property | Finances & completion | Enjoying your new home | FAQ's

FAQ's

How do I pay for my property?
If you purchase a property through Spanish Properties of Distinction then the standard payment structure is as follows:

New Development 3,000€ - reservation fee Start of payment plan from Developer - 30 days after reservation Balance on completion Resale Property 3,000€ - reservation fee 10% within 14 days of reservation Balance on completion

How long will the process take?
This depends on the type of property you choose and at which stage of construction this property is at when you reserve. If you purchase a resale property however, the process takes approximately 2 months.

Are there any additional costs?
In addition to the property price you will have to pay up to 10% of the property price. This is due on completion. Included in this are 7% IVA (equivalent of VAT, in some cases the developer will request that you pay IVA on all your staged payments along the way) and 3% to go to your acting solicitor to pay for all taxes and charges relating to the property purchase.

I have to sell a house in the UK before I buy, can I still proceed? Depending on your financial circumstances it may be possible for you to take out a short term re-mortgage on your UK property to fund the purchase abroad until your house is sold. It can take approximately 6-8 weeks to have any funds released to you once an application has been made and approved. How much will I expect to pay annually for my Spanish home? Every year you are liable to pay local tax, community fees, and water and electricity charges. These can all be set up by direct debit through your Spanish bank and can be up to £1,000 per annum dependent upon the size and usage of your property.

Can I obtain a Euro mortgage?
You can apply for a Spanish mortgage of up to 70% of the purchase price over a maximum period of 25 years. The mortgage has to be paid off by your 75th birthday. It is easy to apply for a mortgage and we can assist you through our financial advisor.

Do I have to use a Spanish solicitor?
It is recommended that you instruct a Spanish solicitor to deal with the conveyancing of your property as they will have full knowledge of the laws in Spain and how the system operates. It will make the transaction a lot smoother and will cost you less money as there will be no need for the translation of official documents. We can recommend the services of an established law firm in La Manga.

Will I need a Spanish Will? It is advisable for you to complete a Spanish Will once you have signed the Title Deeds for your home in Spain. It will only include your Spanish assets, for example your house and bank account. Having a Will in Spain will make the whole process of inheritance less expensive for the beneficiary.

How do I open a bank account in Spain?
We can introduce you to a number of Banks and assist you with the process of opening an account in Spain.

How do I apply for residency?
You can apply for residency if you plan to live more than 6 months of the year continuously in Spain. You would then receive your resident's card and your solicitor in Spain will be able to help you with this application and give you the best advice for your personal circumstances.

Do you have resale properties?
We have a wide range of resale properties available from 1 bedroom apartments to detached villas with private pools. For more information please speak to a sales consultant who will be happy to discuss your requirements further or why not have a look at the properties featured on our website?

Can I sell my existing Spanish home through Spanish Properties of Distinction? We can market and sell your property for you. For further information on this please contact one of our sales consultants. Can I take my pets to Spain? There is a new system now whereby you can take your pets to Spain using the new "Pet passport". Under the new PETS scheme your pet will not have to go through quarantine. However, there are different rules and regulations for each type of animal. You should contact your vet at least 6 months prior to your departure.

Am I entitled to free healthcare in Spain?
When visiting Spain from another EU country, you are entitled to free healthcare, however you will have to pay for prescriptions. There are different types of forms that you can obtain before you travel to ensure you are covered when visiting Spain so that the treatment you receive if free of charge (see E111 and E121 application in the UK). If you are planning to move over to Spain, it would be advisable to take out private medical insurance.

What will happen with my state pension if I move to Spain permanently?
You can arrange for your state or private pension to be transferred directly to your Spanish bank account if you wish. This will be paid into your account every four weeks in arrears. Depending on your financial situation it may be taxed once it is received in Spain, classed as income.

Do electrical goods work in Spain? Yes, the majority of UK appliances will work if you use an adaptor. The standard voltage in Spain is 220volts however in some areas it is still 110volts. How do I go about looking for a job? Around the Costa Calida and Costa Blanca areas there are not many employment agencies, however there are different websites on the internet that will be able to help you to find a job in Spain. The best advice is to get out there and network yourself.