CHOICE OF PROPERTY
Welcome to the urbanization of La Marina. Located within
a twenty minute drive of the airport of Alicante. Close by is a superb stretch
of the Costa Blanca´s
golden coast line. You will find that our urbanization is self contained
offering all amenities one would need, international supermarkets, national
health doctors surgery, private clinic, pharmacy, optician, restaurants,
swimming pools and weekly market. Regular bus and taxi services from all
points of the urbanization.It is recommended that you spend at least a week
here to obtain a feel of the area and the facilities in which it has to offer.
During your stay a member of staff will accompany you to all of the properties
in which you have chosen to view. We will advise you on all aspects of purchasing
a property in Spain.
BANK ACCOUNTS
Before purchasing a property it is recommended that you open
a Spanish bank account. A member of staff will be happy to accompany you
and assist in this matter. You will find all representatives of the bank
are most helpful and with a fluent command of English.
MORTGAGES
Barclays Properties
will assist and arrange the right mortgage for you. It is possible to arrange
mortgages up to 70% of the valuation price. You will find the interest
rate at approx 3.95%. The required documents for this procedure are: a
photocopy of your passport, P-60 and last three wage slips. If you are no
longer in employment then your pension income is accepted.
DEPOSIT CONTRACT
Once you have found your chosen villa a 10% deposit is required
to secure the property. A completion period of between 2-3 months to be arranged
between all parties. And an exact date of completion to be arrived at by
Barclays Properties to the satisfaction of all.
LEGAL PROCEEDINGS
Calculated
on 10% of the value declared on the title deeds:
This consists of:
7% Stamp
duty.
3% Notary fees, registry of the title deeds, the solicitor to act on
the conveyance of the morning regarding the purchase of the property. This
involves two searches to be carried out (ensuring the property is free of
all debts and encumbrances. To obtain your N.I.E numbers, identification
number for non-residents, the solicitor will arrange an appointment with
yourselves to take you to the police station in Elche to sign these, three
passport photos are required).To translate the deeds into English, to transfer
the electric, water and rates into your name. To arrange standing orders
with the water and electric company.
NOTARY
The role of this person is to ensure
that the purchase you are about to make is lawful and meets with certain
criteria laid down by the Spanish government. They will check the property´s
deeds to ensure that all parties are represented correctly and that the ownership
will pass to the buyer upon completion either freehold or in conjunction
with a mortgage. The Notary is required by Spanish law to witness the payment
of agreed money and signing of all relevant documents. The Notary also instigates
a second search on the property minutes before the deeds are signed.
LAND
REGISTRY
The land registry is where the deeds are inscribed. The original
copy of the deeds signed at the Notary are taken here by the Solicitor to
be transferred into the purchasers name. A legal copy will be given to the
purchaser when the deeds have been registered. This procedure generally takes
approximately 6 months.
WILLS, POWER OF ATTORNEY AND PREPARING OF COMPLETION
Power
of attorney: If you feel you are unable to return to Spain for the completion
of the property, alternatively you can arrange to leave a power of attorney
with the Solicitor. The Solicitor will act on your behalf for the morning
of the conveyance. The cost of the power of attorney is 181 €. This
document will need to be signed in front of the Notary. A member of staff
will accompany you to the Notary regarding this matter.
Wills: Whether or
not you have made a will in the U.K. It is strongly recommended that you
make a legally notarised will in respect of your property and assets in Spain.
This will ensure you and your loved ones are safeguarded should the inevitable
occur. Our staff will be able to assist you in the making of a Spanish will
which will then be prepared and translated by the Solicitor, and signed in
front of the notary, at the cost of 210 € per person. Preparing of completion:
Being a non-resident in Spain you are obligated by law to be represented
by a fiscal representative / solicitor. Once you have chosen your property
Barclays Properties will introduce you to a reputable firm of English speaking
solicitors who will oversee your transaction from start to finish.We work
closely with your solicitor on all of our conveyances.Your solicitor will
carry out the necessary searches on the property to ensure the property is
free of debt and encumbrances. The next step after having arranged a completion
date with Barclays Properties is to transfer the remaining balance for the
purchase of your property to your bank account here. It is recommended that
you transfer the money in sterling, this way you will receive Spanish commercial
rate when it reaches your Spanish bank account.
N.I.E (Identification numbers for non-residents)
This number
is required if you would like to purchase a property or a car in Spain. This
is included in our legal package (the Solicitor will go with you to apply
for this and will collect it for you 21 days later).
If you have left power of attorney to the Solicitor to purchase the property on your behalf and have not had time to apply for the N.I.E number you can obtain a number by contacting the Spanish Embassy in London. This would be explained by a member of staff on purchase of a property.
CONVEYANCE
The procedure on
the morning of the conveyance is as follows: A member of staff will accompany
you to the bank to arrange the collection of your monies (Barclays Properties
will have arranged prior to this date the required orders / cheques etc.)
Once you have completed all transactions at the bank, we will assist you
in the checking of the property´s inventory. If you have left power
of attorney, a member of Barclays Properties will check the inventory on
your behalf on the morning of the conveyance and collect the keys.On signing
the title deeds at the Notary you are now the proud owner of your new home
and take possession of the keys.
TRANSFER, STANDING ORDER & INSURANCE
Once
the conveyance is completed the solicitor will ensure that the water, electricity
and rates are transferred into your name and arrange standing orders with
each company. Insurance is strongly recommended for building and contents.
Your solicitor can also arrange this for you.
AFTER SALES
Having purchased
your property, Barclays Properties are on hand to assist you in any matter
with which you have a problem understanding. Our after sales services are
available to all of our clients old and new, should you require a little
advice or just a general enquiry we will be only too happy to assist you.We
offer translation services, photocopying, faxing …We are here to help
you in any way that we can. Telephone connection Barclays Properties can
arrange the connection of a land line to your new home, required is a photocopy
of your passport and bank details for the arrangement of a direct debit.