Q: How easy is it to purchase a property
in the Almeria region?
Answer: The process
is a lot easier than purchasing a property in the UK,
as long as you use a reputable Real Estate Agency and an
independent Spanish solicitor (abogado) - they know the legalities
of the buying process and will be able to guide you through
the process.
Q:How easy is it to finance my purchase?
Answer: Spanish banks are highly competitive
when offering mortgages on new and resale properties. It
is common practice for local banks to offer mortgages to
non-residents. The normal borrowing terms are up to 80% for
urban properties and 70% for rustic properties, based on
the valuation price, with interest rates at around 1 point
over the current EURIBOR rate.
( Subject to status ).
Q:Is it necessary to have a technical
survey?
Answer: Although this is not necessary
here in Spain for mortgage purposes, it would be
advisable when purchasing an older property, for instance
a finca or farmhouse. These checks are usually for plumbing
and electrical installation, roofing and so on. This work
is normally undertaken by a Spanish technical architect (aparejador
), and fees incurred are the responsibility of the prospective
purchaser.
Q:Who pays the Real Estate Agent's fees?
Answer:The vendor of the property ALWAYS
pays the fees.
Q: How will the utility bills be changed
over to our names?
Answer: The standard bills (e.g. electricity,
water, telephone) will be changed into your name
by the lawyer appointed to conveyance the sale, who normally
will set up a direct debit to make sure the bills are paid
through your Spanish bank account.
Q: What taxes do we have to
pay?
Answer: In addition to the annual Impuesto
sobre Bienes Inmuebles or IBI (the equivalent of UK rates)
paid on all property to the Town Hall, non-residents must
pay a WEALTH TAX (Impuesto de Patrimonio) on their assets
in Spain. The amount of tax is determined based on the individual's
wealth. The registered value (valor catastral) of the property
is usually the basis for the calculation of the tax.
Q: What are the health and medical services
and insurance facilities like in Spain?
Answer: In Huercal Overa we have one of
the newest pioneering hospitals in Spain,
modern and fully equipped with a team of medical
staff trained to a very high standard. Private medical insurance
is available through various companies, with details to be
found at most medical services and pharmacies. Spains social
security system now allows EU residents access to the health
network. More information and the necessary forms are
available from your local health centre in the UK. For residents
who are self-employed, or in normal employment, your social
security contributions automatically entitle you access to
the Spanish health network. If you do not speak Spanish then
PLEASE employ an interpreter as this is very important!
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