Costa Blanca Property Finance

To ensure your purchase runs as smoothly as possible, we would offer you the following advice:

Having chosen your new home, you will be asked for an initial deposit of approximately 3,000 Euros (about £2000), at which point the property will be reserved for you.

Developer’s payment terms vary slightly, but in most cases, 50% of the cost will be required within about two months of reservation. Further payments are according to completion date of the property.

Low interest mortgages for up to 70% of the purchase price are available from Spanish Banks (subject to status). You will need your passport, three up to date payslips as proof of income and your P60. For self employed, a copy of your latest certified accounts. Mortgages will not be released until the property is complete.

7% VAT (I.V.A.) is payable on the declared value of Spanish property purchases. Generally we recommend new purchasers budget for around 10% of the purchase price to cover VAT, registration and legal fees.