Our specialist financial and mortgage advisors will guide you through the process and our admin team are here to support you with your application and aid you with processing your application.
Our legal teams are here to ensure that full due diligence has been carried out on your property and to give you peace of mind through the sale!
Three Simple Steps To Your Dream Investment
Select a suitable property & place a reservation
PGI Marbella will guide you through the selection process whether you are buying a dream home or making a wise investment we are on hand to help you choose the best property to meet your exact requirements.
You will then place a reservation on the property to remove it from the open market and enable us to begin the purchase process.
Apply for finance
We will undertake the application on your behalf, you simply need to fill out a few standard forms and provide us with the necessary documentation to compile your file. Our specialist mortgage advisors will ensure that your paperwork is compiled in the best manner possible to aid with obtaining finance.
Once the application is handed to the bank we will aim to have an answer for you within 2-3 weeks.
Complete on the purchase and receive your keys!
When PGI are in receipt of your mortgage offer, the next step would be to make travel arrangements for your visit to Spain. We will show you the property and the area to, places of interest etc, then take you to the bank to open your account, meet the bank branch and then to the lawyers.
Through our recommended lawyers, GVA & Atencia, you will obtain your individual NIE number (tax number) and arrange the Power of Attorney document at the public notary. This completes the process for the lawyers to have the ability to sign the deeds and complete the purchase on your behalf.
Once registered, your lawyer will then aid with connection of utilities and pass over the keys of your dream property to you or to your rental management company if your purchase is for investment.
Buying Costs in Spain
As a general rule the costs of a mortgaged property purchase in Spain are in the region of 10.5% to 14% these account for:
- Legal Fees (around 1%)
- Notary & Land Registry (0.5% but usually an amount not a %)
- Stamp duty on new properties only (1.5%)
- IVA (VAT) on new properties (10%) * Certain new properties are eligible for a reduction to 4% IVA for a limited period.
- Mortgage Arrangement fees: Vary (there may be additional notary/registry fees and stamp duty)
- NIE Numbers, utilities etc.
However if you are purchasing via PGI Marbella, a high proportion of our packages include finance towards these costs!