Mortgage Tax and Costs

A lot has been said over the last three weeks regarding the costs and taxes associated with a mortgage in Spain. The following is from the Money Saver Spain website and is worth a read.
Spain's Supreme Court decided this week, in a reversal of their initial decision, that it should be the client and not the bank that pays the tax when taking out a mortgage.
Consumer organisations, amongst others, are outraged. It was hoped that the Supreme Court would maintain their original decision but without backdating it, thereby removing the possibility of an avalanche of claims. 
The Government has announced that they will rush through a change in the law for all new mortgage clients making banks responsible for the tax payment. But banks are expected to make mortgage conditions less favourable for new clients.
Now it remains to be seen what will happen when the case is taken to the European Court of Justice. When this happened with the mortgage "floor clauses", the ECJ sentenced in f…

Ultimate Homes Spanish Property News

So the Spanish property market continues to perform well though August was quiet (as it always is due to summer holidays and being very hot) but WOW... September has really kicked off well. Offers for properties, lots of viewings, and plenty of interest from buyers.

Here's a list of the properties which we have had offers on, plus we are working on two more.
Beniarbeig - 3 bed townhouse priced at 102,000 EurosAlbir - 4 bed townhouse priced at 170,000 EurosBeniarbeig - 3 bed apartment priced at 42,000 EurosBeniarbeig (again) - 2 bed apartment priced at 69,500 EurosFinestrat - 2 bed townhouse priced at 159,000 Euros We're speaking to many new buyers in the area, they've enjoyed their summer holidays and are now looking at buying a home in the area. And these buyers are coming from all over Europe and the USA.
We've also been asked to sell some truly amazing properties recently too: Finestrat (Golf Bahía) two bedroom townhouse priced at 139,000 EurosAltea (Mascar…

How would a ‘No deal’ Brexit affect British Owners of Spanish Property?

A guest post by Alex Radford of My Lawyer in Spain, based in Marbella, Malaga with whom we have collaborated with in the past, and more importantly has written an article which is worth a few minutes of your time. Alex can be contacted on +34 951 203 094 if you would like to speak with him, or of course Steve or I (Barry) would also be delighted to hear your thoughts / comments. Anyway, read on.
On 29 March 2019, the UK is expected to leave the EU, with or without a deal. There are many different types of potential deals being floated around at the moment by the various Westminster political parties and the EU is warming to Theresa May’s Chequers plan or parts of it. However in this article I consider how a Brexit no deal would affect British owners of Spanish property.  Initial details of the ‘no deal’ Brexit have been issued by the British Government here with Theresa May advising more are to come. It is important to distinguish between British residents in Spain and those who are …

If you’re not a resident in Spain, what are your mortgage options?

The Spanish property market is hotter now than at any other time in the last ten years, and we are regularly asked about mortgage deals currently available, especially for non-residents. Many non-residents believe the mortgage process to be difficult, but it's not impossible. Most Spanish banks are happy to lend money to people living abroad, whether Spaniards or non-nationals. But it is important to know the ins and outs when borrowing to avoid unpleasant surprises.
First of all, you are going to pay more

Non-residents and Spaniards living abroad will pay higher interest rates than they would if they were resident here. A fixed-rate mortgage, the usual option in this case, around 2.5% for 20 years, and a variable rate, the fixed part added to the Euribor index is between 1.1% and 1.25%. Buyers will have to take out life and home insurance
The reason non-residents pay higher interest rates is because they are buying a second home and will find it harder to meet some conditions th…

Penthouse Apartment In Gran Mirador - 85,000 Euros (plus taxes)

We are delighted to offer this modern penthouse apartment with a huge terrace and roof top solarium, with access to a communal swimming pool, outdoor picnic area, and padel tennis court, located in the area of Mutxamel (Muchamiel)  just 15 minutes from the center of Alicante.

View of the complex from the pool
The property is located in a gated complex with beautifully maintained gardens, communal swimming pool, picnic area and padel tennis court. There is vehicle access via electric gates and the property has a private parking space and store room.

Picnic area and gardens
This is a penthouse apartment in a 3 storey block. The road level is on the 1st floor so there is only 1 flight of stairs to the front door of the property. It is a bright and modern apartment with large patio doors from the living room and external, south-west facing windows in both bedrooms.

Living Room leading to terrace
The living room leads to an open, south-east facing terrace of some 30m2. From here there are bea…

World Cup Special

Good morning!

To celebrate the fact that we're only a couple of days away from the start of the FIFA World Cup in Russia, we're going to play a little game of our own.

1. First of all, we want a referral from you, whether it be someone you know looking to buy or sell in this wonderful part of Spain, and then,

2 What is the record for the highest attendance at a FIFA World Cup match?

All entrants will enter into a sweepstake, and the lucky winner will win a crate of locally produced Althaia Artesana beer to enjoy when you're watching a game.

So don't delay, if you know the answer and have a referral for us, we will hold the draw and notify the winner on Friday.

And in the meantime, check out this video of this house offered for sale, located in between Benidorm and La Nucia.

Price 450,000 Euros (plus taxes) - more information here
As always, do not hesitate to contact us regarding your property needs in Spain -  Barry 657 960 480 Steve 657 958 094

Ultimate Homes - Privacy and a Hot Javea Promotion

We at Ultimate Homes (many of you know us personally as Barry and/or Steve) really appreciate your interest in property in Spain and value you as an email subscriber. We send our emails to keep you up to date with the latest Spanish property news, tips and offers. Indeed, many of you who receive our email newsletters have become good friends.
That said, tomorrow is the 25th May 2018, and  the General Data Protection Regulation (GDPR) will come into effect. We are taking steps to ensure we comply with this new EU regulation that relates to how personal information is stored and processed.
You are currently on our mailing database as you have either expressed an interest in a property offered for sale by Ultimate Homes, you have either purchased a property with us or you have previously signed up to our mailing list. On that basis, we are assuming that there is a legitimate interest for contacting you. If you are happy with this and wish to continue receiving the latest property news, off…