Mortgage Costs
Depending on which lender has been selected to provide your mortgage:- The arrangement fee will be between 1% and 1.5% of the loan.
- The valuation fee will be approximately €350 depending on the property value.
- There are also the notary cost, stamp duty, property registration.
For easy calculations the above costs normally total up to between 3-3,5%.
This cost must be considered when purchasing property in Spain.
The maximum amount you can borrow will also depend on your income. In general the rule of thumb is that you will be advanced up to 3 times your gross annual income but we can also offer you mortgages with no credit check and were they don’t look at your outgoings in UK.
| Examples - Here are two examples of the legal costs for a mortgage of Euro 100.000 and Euro 150.000 | ||||
| MORTGAGE AMOUNT | €100,000 | MORTGAGE AMOUNT | €150,000 | |
|---|---|---|---|---|
| STAMP DUTY | 1,800 | STAMP DUTY | 2,700 | |
| NOTARY & LAND REGISTRY FEE | 710 | NOTARY & LAND REGISTRY FEE | 750 | |
| GESTORIA | 204 | GESTORIA | 204 | |
| BANK ARRANGEMENT FEE | 1,000 | BANK ARRANGEMENT FEE | 1,500 | |
| TOTAL COST IN EUROS | 3,714 | TOTAL COST IN EUROS | 5,154 | |
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