THE LEADING FINANCING EXPERTS IN SPAINLEARN MORE
The number one benefits are the wealth tax and inheritance tax. When one person is purchasing a property in Spain for over 700.000 euros you must pay wealth tax. Wealth tax is on a scale and can go up to 3.45% per year on high-end properties. The other important tax benefit is inheritance tax which is also high in Spain. When you have a mortgage the amount is deducted and the tax is only paid on the difference. We recommend you speak to your lawyer / tax advisor to see what your personal situation is.
Nowadays most clients buy in personal names, but we do have clients that purchase in company names for specific reasons or structures they have set up recommended by their advisors.
Yes. The banks prefer purchases and mortgages are in personal names or in Spanish SL´s but we also arrange mortgages for clients that wish to purchase with a foreign company.
The age depends on the bank but in general terms the maximum age is up to 75 years of age.
Because our team is impartial and you will obtain the best mortgage to suit your needs at any given time with the best interest rates and overall conditions based on your personal preferences and requirements. A small difference in the interest rate can make a very big difference over the years, and we will help you maximize your investment.
Obtaining a mortgage in Spain can be a tedious and long process, especially when comparing several banks. As long as all the information and documents you provide are correct, we can assess your situation, define a strategy, and find you the best mortgage from all banks in about two weeks, subject to the property being valued by a surveyor. From our first meeting to completion, we estimate a 6-10 week timeframe but we can speed up the process when necessary and required.
TheLionsgate team is here to help you with all mortgage-related aspects. We can introduce you to top real estate brokers if you have not contacted any yet. We can also begin the mortgage process prior to you finding a property. The bank offers are usually valid 1-2 months and afterwards only certain information must be updated.
The affordability calculation is based on several factors and even if it is over the standard percentages we often come up with solutions. Contact us and learn more about your options.
In order for the Lionsgate team to study your mortgage followed by the banks’ risk departments, your situation must be carefully assessed. For this reason, it is necessary to provide all information for the study. However, by working with the Lionsgate mortgage advisors you must only present the documents once instead of providing these documents to each provider separately, and you will also obtain the best offer for you from over 20 top banks.
The Lionsgate Capital team specialize in all type of mortgages and financing in Spain and we are able to accommodate special requests through our extensive partner network. Please contact us to clarify your possibilities.
Yes, there are taxes, land registry costs, notary costs, administration costs, bank charges and insurances to take into consideration when purchasing a property. We typically advise our clients to allow between 11% and 14% of the purchase price to cover these costs.
These vary from bank to bank but can include home insurance, life insurance, an alarm or other products depending on the bank. We always aim to reduce the additional products to a minimum for our clients.
Yes, by law there is a cancellation fee of 0,50% the first 5 years and 0,25% thereafter. However, we also try to negotiate these fees for our clients when necessary.
Non-residents can typically borrow up to 70% of the purchase price or valuation (the lower of the two) and Spanish tax residents up to 80%.
The minimum deposit is usually between 30% and 40% of the purchase price plus the costs involved in the purchase, which are generally between 11% and 14% of the purchase price.
We always recommend our clients to have a lawyer and we can recommend excellent lawyers to suit each client´s preferences and requirements.
The valuation is carried out by a surveyor (tasador) and depending on the bank they will accept valuations that have already been carried out or will ask to arrange them directly by the bank. The client always pays the cost of the valuation and this cost varies in relation to the property.
Every client is different and the banks change their rates, products and conditions constantly. Therefore, there is no perfect bank at all times and for this reason we make sure we find the best mortgage and bank for each client at any given time.
Fixed interest rates are usually higher than the variable rates. With a fixed rate you will know what you are paying each month throughout a given time or throughout the whole term of the mortgage. With a variable rate the interest rate will be more competitive but can go up or down as it is linked to the Euribor or base rate applied. In Spain all rates are usually fixed throughout the full term of the mortgage.
In Spain the most important thing is to choose the right bank for you and that is what we specialize in. With regards to the choice between the fixed and variable rate, this is a very personal choice, we can explain the difference but the client must always make the decision.
This is the Spanish document you need to be able to purchase a property in Spain. Normally your lawyer will obtain the NIE for you. Another option is for you to obtain it in the Spanish embassy in your country of residence.
It is a report issued in the country you reside in that shows your credit history and includes any mortgages and loans you have today.
The banks will not give you the special rates and conditions we obtain and the banks you approach may not be the best bank for you. The advice of our mortgage advisors is impartial and you will obtain the best mortgage to suit your needs at any given time with the best interest rates and overall conditions. A small difference in the interest rate can make a very big difference over the years, we have the banking experience but are on our clients’ side, in addition, we work on a success fee, so you have nothing to lose and everything to gain by contacting us.
Most banks will not accept this option but there are always exceptions, please contact us and we will see if we can help.
Clients come to us in 3 different ways: 1) Without having contacted the banks and we take care of the whole process, 2) having contacted a few banks and they ask us to take over and 3) clients also come to us with the bank´s offers and we take over to improve them, in other words, all clients at any stage of the process can benefit by contacting our team.
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