houses in alicante
Finance See our mortgages section here
Many developers of new properties are now offering up to 80% over 20 years for non-residents.
Local banks will offer anything up to 60% for European residents.
Most loans are long-term and secured on the property.
When seeking a loan, make sure you you houses in alicante are aware of the interest rates and if they are fixed or floating.
Banks will ask for passports, residence permits, payslips, sale contracts and copies of the title deeds.
There are many advantages to taking out a loan to purchase your property, in the form of tax allowances.
We have have not listed them here as they houses in alicante are subject to fluctuation.
You may need to transfer money into Spain and you need to protect yourself:
When you buy a property in Spain, you will know the price of the property in Euros but you will not know the actual cost cost until you buy all of houses in alicante the currency to pay for it.
This means that the property could either cost you more than you had planned (if the Euro strengthens) or the property could become cheaper (if Sterling strengthens) .
Recently Sterling has fluctuated more than 10% against the Euro within within a matter of months, so houses in alicante this does deserve careful consideration.
On the basis that you are buying a property and not speculating on the currency markets, it is worth fixing the exchange rate for all of your future stage payments to the agent / developer.
How to fix the houses in alicante the exchange rate:
1/ Buy all of the currency now on a spot contract.
Hold the currency on deposit and send payments when they are due from your Euro account.
To do this you need to have full funds available.
2/ Buy as much currency as you can afford afford now (e.g.
for houses in alicante the first 2 payments) and reserve an exchange rate for the remaining payments.
To reserve an exchange rate you need to buy a 'forward currency contract'.
In effect you are buying currency now but paying at a later date when you have the funds available.
The exchange exchange rate houses in alicante that you achieve on a forward contract is not quite as good as that for a spot contract but it does guarantee that you know the cost of the property.
You will be required to pay 10% of the value immediately and the balance by the date that
