How can your services be free?

The selling agent pays our fees, as we take part of the commission that is already built into the price of the property.

Why do you not have a property search on your website?

We always get asked this question and the answer is simple. You may have already visited many real estate websites and seen extensive listings of property for sale. However, many of those websites are not updated regularly and with property being sold everyday, many people will be disappointed when they enquire to be told that a property has been sold. Many agents are too busy to update their website and so the best properties get snapped up by people who are waiting for a specific apartment or villa. At Insight Spain, we make sure the property details you receive are accurate and up to date. When you plan to visit we make sure these are available and inform you when you arrive if any newly released developments or re-sales have come onto the market, which match your requirements.

There are tens of thousands of real estate agents in Spain, from small one-man outfits operating out of back street offices to large multinational companies. It is important to use a reputable agent and maybe more than one, so we believe its better to use an independent party who can advise you which companies to deal with. You will find many agents sell each other's properties (at different prices) and at the end of the day they will give you the hard sell and pressure you to buy from them, as they know you could quite easily go elsewhere. At Insight Spain, we only use reputable agents and from these find your ideal property at the best price, as well as giving you independent advice throughout the purchase process. What's more the service is FREE, so you have nothing to lose.

Can I arrange to view properties in Spain?

We can arrange inspections at a time that is good for you. When you have received details of properties matching your requirements, our associates will discuss with you the next step in terms of coming to Spain to view the properties you like the best. We can help arrange flights and book accommodation at the cheapest prices, as well as collecting you from the airport.

What other costs should I budget for when purchasing a home in Spain?

Buying in Spain means you will need to pay certain fees and taxes, which need to be taken into account on top of the purchase price of the property. Details can be found in our buying guide but typically expect to pay around an additional 10-12%.

What about lawyers and raising finance?

We can recommend Spanish lawyers who speak fluent English to ensure you have peace of mind throughout the entire buying process. We can also introduce you to Mortgage Brokers who can search the banks and financial institutions to find the best mortgage deal for your circumstances.

Spanish banks offer competitive mortgages with low rates of interest, to both non-residents and residents of Spain. Typically, the banks will grant up to 80% of their valuation of the property for a term of up to 35 years.

Spain offers several kinds of mortgages including fixed and variable rates or a combination of both. Endowment or pension-backed mortgages are not available, although some lenders are now offering interest-only mortgages.

The Bank will need documentation from you to be able to consider your mortgage application including a bank reference, copy bank statements, copy income tax returns, copy salary slips or, copy accounts if you are self employed.

If you are buying Off-Plan the developer may already have a mortgage in place, which you can simply take-over on completion, subject to your financial status.

I have heard about an NIE number - what is this and how do I get one?

N.I.E. means Numero de Identificación de Extranjeros. The English translation is Foreign Resident's Identification Number. All foreigners with financial dealings in Spain must apply for an NIE tax and identification number at the police station and this can be organised through your lawyer.

If I come to Spain to view properties what do I need to bring with me in terms of a deposit?

Once you have found the right property the first step is to pay a reservation fee. This can be paid quickly and easily by cash or credit card and is typically between 3.000 and 6.000 Euros.

Do I need to be in Spain throughout the buying process?

No, you can instruct your lawyer to act on your behalf, even for the final completion. Lawyers in Spain are responsible for chasing up all information required by their clients. Any information you require can be requested direct from them or from us at Insight Spain. We will keep you informed of every step.

Do I need a Spanish Bank Account?

Yes. Opening an account in Spain is very easy and we will be happy to help you on your first visit. A Spanish Euro account for utility companies to collect payments for water, electricity etc, by direct debit will be required. Developers will usually require payments to be made through a Spanish Bank Account.

Many banks now offer internet banking so you can access your account in English at all times from the UK, check statements, transfer funds and generally keep an eye on things - all without speaking a word in Spanish.

How do I change my money into Euros to carry out the purchase of my property?

Insight Spain can recommend a currency exchange company who will give you a competitive commercial rate.

What happens about my U.K. Pension?

UK State Pensions can be paid direct to your bank account in Spain - usually monthly. The Benefits Agency can provide the necessary forms and further advice. If you have a private pension you will need to speak to the pension provider as regulations vary.

Should I make a Spanish will?

This is advisable. If you, or a relative, should die whilst resident in Spain, Spanish law is responsible for your estate. Your lawyer will be able to take you through the process without difficulty and we can recommend a reputable one for you.

Is Spanish property a good investment?

Property prices on the Costa del Sol and low Spanish mortgage rates are only two of the reasons why. Read our Why Spain? section for more information.

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