Spain Mortgages

There is generally no application fee

€250 - €500 depending on value of property

Generally around 1% - 1.5% of the loan amount. This is usually payable either when the mortgage offer is issued or on completion of the mortgage

1.0% - 1.5% of the loan amount. The amount will depend on the complexity of the case and also if our local agent is needed to accompany you to the bank for signing of paperwork etc. This will be payable only after the mortgage is approved.

Basic Buildings Insurance will be required and the bank will often insist or offer you incentive to use their own

Many banks will insist on you having life cover for the full amount of the mortgage. The bank will often insist or offer you incentive to use their own

For the purchase of an existing property from a private individual, you will need to pay Transfer Tax.
Each region can set their own rate of Transfer Tax, so this amount will vary depending where you are buying. The general (national) rule of ITP is 8% - 10%, but many of the autonomous regions apply their own rates.

If you are buying a new build property from a company, then you will pay 10% of the purchase price as VAT (lower in the Canaries)
The Stamp Duty (AJD) is usually 1% of the purchase price.

Usually about 3% of the purchase price plus IVA

Usually about 1% of the purchase price plus IVA

Usually about 1% of the purchase price plus IVA