What is the best way for me to finance the purchase of Spanish home?
	What extras should I expect to pay on top of the price of the property?
	What about the running costs of a home once I have purchased it?
	Is the Spanish legal system the same as the UK and should I use a UK based solicitor?
	Can we have our pensions paid to us in Spain?
	What if I become ill, what is the health care like in Spain?
	What is an inspection visit and will I be under pressure to buy?
	Property prices seem to keep increasing, how long can that last?
	We are planning to purchase in Spain in a couple of years but with the prices rising we will not be able to afford to – what can we do?
	We may wish to let our home out when we are not using it – can Nueva Vida assist in this?

What is the best way for me to finance the purchase of Spanish home?

There are several popular ways to finance the purchase of your home, Spanish mortgages are easy to arrange and are currently cheaper than the UK equivalent. Most UK lending institutions recognise Spanish property as a great investment and are delighted to arrange a UK mortgage on a Spanish home. Alternatively some of our clients prefer to release equity from their existing property in the UK.

Nueva Vida can arrange a private consultation with either a UK or Spanish based expert to discuss your personal requirements and arrange the best solution for you.

What extras should I expect to pay on top of the price of the property?

Most reputable agents like Nueva Vida agree that around 10% of the purchase price should cover the legal costs and taxes.

What about the running costs of a home once I have purchased it?

Obviously running costs depend on usage and the size of your property, generally though running costs are usually around a third less than in the UK. Typical running costs of a two bedroom apartment could be:

Electricity £150 p.a
Water £ 50 p.a
Rates £ 80 p.a
Community charges £150 p.a
Bottled gas is widely available at under £5 per bottle.

Is the Spanish legal system the same as the UK and should I use a UK based solicitor?

The Spanish legal system is different to the system in the UK, it is for that reason that we recommend an experienced English speaking solicitor to help you with your purchase and any other legal issues you may have. All correspondence will be in English and simple to understand.

Using a UK solicitor really just increases your costs as they will need to consult a Spanish based solicitor to deal with the Spanish legalities – basically you would end up paying twice.

Can we have our pensions paid to us in Spain?

Yes – both private and state pensions can easily be paid into your Spanish bank account – your local bank representative can assist you with the arrangements.

What if I become ill, what is the health care like in Spain?

The Spanish health care system is excellent, a new hospital has recently been constructed in Los Altos offering the very latest in technology and health care and is available to all EU citizens – a form E111 which is available from the Post Office will give you more information.

What is an inspection visit and will I be under pressure to buy?

The purpose of an inspection visit is for serious buyers to draw on the experience of a Spanish based property expert to source the best value, properties of the right type, in the right area to suit their lifestyle.

Simple as that really, we exert no pressure whatsoever, our job is to understand what you are looking for and find it for you. With over 400 resale properties and thousands of new build apartments, town houses, duplex’s and villas in every location we are confident of locating the ideal property for everyone.

Property prices seem to keep increasing, how long can that last?

The glib answer to that is ‘so long as the sun keeps shining’, but that is only part of the answer, even with the steady increase in prices over the last few years property prices in Southern Spain and the Costa Blanca particularly are still well below many other areas in Europe which do not offer 320 days of sunshine each year.

We do not have a crystal ball and cannot assume that property prices on the Costa Blanca will continue to grow at 20% each year – all we can do is give you some pointers based on our own experience. In difficult times property prices may slow down, however, long term prospects are always upwards – we believe that while the sun shines in Spain and the rain falls in the UK and Northern Europe long term prospects are good.

We are planning to purchase in Spain in a couple of years but with the prices rising we will not be able to afford to – what can we do?

This is a dilemma many of our clients have found themselves in – watching the cost of property rise at a much faster rate than their savings or investments.

One option that a number of our clients have taken is to put a deposit on a new build development which is not due for completion for 18-24 months – it has allowed clients to get on the ladder and benefit from the growth in property values now without having to invest the full cost of the property for up to 2 years.

Our investment advisors will be pleased to discuss this option with you.

We may wish to let our home out when we are not using it – can Nueva Vida assist in this?

Nueva Vida have a full letting and management operation – we specialise in all aspects of property management and will be delighted to provide suggested letting rates and tariffs for different times of the year.