Finance & Legal
We understand that whilst buying an investment property in Spain is a rewarding experience it is also a major decision in our lives. We are dedicated to helping you so you feel happy and confident throughout the whole process.
With little return on Sterling deposits, excellent value for money properties and Mortgage interest rates at an all time low it is an ideal time to invest in your dream Spanish property.
We can offer Mortgage finance (subject to terms & conditions and personal status) at competitive rate over a maximum period of 25 years. Interest only mortgages are available for the first two years for off-plan properties.
Spanish banks offer a range of products and we will work with you to tailor a solution that meets your personal requirements.
Whilst we can offer Mortgage Finance we understand your individual circumstances may be such that this is not required and we would be happy to discuss your deposit and payment preferences. Additionally, we would be pleased to advise you, should you wish to arrange your own Mortgage.
A 10% deposit is required to remove any property from the market – €10,000 as an initial deposit and the balance due on signing of the Title Deeds. If you are require a 100% Mortgage these funds will be utilised to cover your costs and accounted for in the completion statement provided by your Solicitor.
Additional Costs to Consider
As with all Spanish property purchases allowing an extra 10% for taxes & additional expenses will ensure you safely stay within your budget. This will cover IVA taxes (VAT), Stamp Duty, Notary & Registration Fees, Solicitors Fees, Mortgage & Arrangement Fees and Water & Electricity Connections.
Rental Income
We can help arrange short and long terms rentals and will assist with all aspects of the rental to include all marketing, cleaning and maintenance.
Should you choose a long-term rental option we will guarantee the first year’s rental on your property. There is a strong demand for our properties in the rental market and will we work closely with local rental companies to ensure maximum returns for you.
Typical Rental Examples:
- 3 Bed Villa – Short Term Rental – €1,000 per week (High Season)
- 3 Bed Villas – Long Term Rental – €1,000 per month (12 month term)
- 3 Bed Townhouse – Short Term Rental – €650 per week (High Season)
- 3 Bed Townhouse – Long Term Rental – €600 per month (12 month term)
- 2 Bed Townhouse – Short Term Rental – €550 per week (High Season)
- 2 Bed Townhouse – Long Term Rental – €500 per month (12 month term)
Investment History
Our developer has an excellent track record in Denia property over the past 30 years with an average return on investment of 70% over a three year period.
This figure is based on price increases from the first off-plan prices to the last sale on completion over three years.
Based on past performance over the past 30 years, your property purchase promises to provide you with a very healthy return on your investment.
Legal
Whilst we would be happy to introduce you to a highly respected local Solicitor, we are also more than happy to work with a Solicitor of your choice to ensure a smooth and trouble free purchase of your Spanish property.
Your Solicitor will guide you through the legal process, carry out due diligence and confirm such areas as:
- Ownership of the project land
- All planning permission has been granted
- Planning permission is adhered to
- No outstanding debts on the land
- No unusual conditions attached to the sale
- Developers insurance is in place
- 10 year structural insurance in place
Buyers Protection
To ensure you are fully protected throughout the build and finance process your solicitor will handle, on your instruction, all of the construction payments, which are made only on the completion of each scheduled stage. An architect will check and confirm with your solicitor that each stage of the build process meets with stringent regulations.