Guardamar - Playa Los Tusales

Shampers

Another No hassle option maybe ??

Get some one else to do the running around for you - we used the excellent and very obliging Patrick Robinson (smiley on this forum) up at Marbella Mortgages

Sure he charges a fee but he has got us a mortgage with Barclays Spain in record time, (1st 3 years at  interest only) and we are all sorted now with no grief or tears

Planning to complete with POA end October, wanted to do it faster but PW said no !

See you all in the sun !

Mark

Option 2 ,and already completed.
Everything organised by bank and PW.No problems on the day,just turned up and signed.
Not for everyone of course.
John 

Option 9, but like you shamper would not like to invest so much without legal presentation.


Alison & Simon

 

Option 5, limit & spread the risk if one exists and pay off later when exchange rate improves with no penalty. 

Phil

Started at option 1 - Then thought option 2 - Considered option 5 + 9 and have now decided option 9 - But with all wouldn't even contemplate spending that much without a solicitor ( That's for 2 apartments ) Personally think it would be frightening going it alone without a solicitor on side

9 for me

Hi all,

I don't think anybody has answered Tony's original question regarding the methodology of paying the addtional fees associated with Completion....Notary, Land registration etc.  

I am also interested in how others have approached this task.  The stream seems to have devolped into another question..... is it advisable to buy / complete with or without a solicitor ? (which of course it isn't!!).

Any offers?

 

 

Option 1 for me............. 5 years int only and then 25 year term

Pay it off at some point after 5 years once our bloody stock market has gone back up again.........

Hi

Another option would be to add it onto the mortgage.

Linda

Hi Tony/Skell,

Going back to original thread I too would like to know what is the best way to pay notary fees, transfer costs etc. Can you pay by card or does it have to be by cash?

Lisa

why dont you ask the people you think you owe the money to?

Lisa, I was told you could pay by cheque on the day, the amount they told me would be 3500 Euros and you will be refunded at later date if it doesn't amount to that.

Dan

We are completing by POA  & our solicitor has quoted us a cost for all additional fees (2800 euros). We will transfer this with the final balance to their account and they are sorting everything out. 
Not for everyone but we're happy to let them do the leg work.

my additional costs are zero!

George, how can you be paying nothing? - surely you still have notary, registration and utilities to pay, mortgage or not, solicitor or not

im not using a solicitor.pw provide their own and pay notary and solicitor costs,i did an increased  uk mortgage as it works out cheaper.
utilities are a seperate option as is suma
if anyone wants spanish or english mortgage quotes please ask me.
this is my 3rd spanish purchase since 1989 and not my last.

George

Even if you completed just with Polaris surely you still had to pay the stamp duty, notary & land registry fees. These are set out in the Polaris completion paperwork and will cost you 3500€ although they do say that this includes 300€ fee for their service, they will then justify the invoices and reimburse any overpayment.

Hi Mike,

I am sure you are right about the fees.  It is a legal requirement in Spain to pay those fees - do you really think PW will pay those for us on our behalf?.......No chance.

In fact these fees increas do actually increase if you take out a Spanish mortgage (pro rata on the size of the mortgage), so I think there is merit in taking borrowing from the UK side now, as Gerge suggests, particularly as the gap between the Eurobar & B of E Base rate is narrowed significantly.  My solicitor is quoting approx €3200 for the fees - excluding his own, with Stamp duty being the biggest - 1% of purchasing cost

Nick

Just to clarify the figure quoted earlier includes the stamp duty etc. This is our first purchase abroad and we really don't see the need to add to the stress of long distance buying by going it alone.
If people are comfortable to do that great but there seems to be a little embelishment here if they seem to think they can avoid stamp duty...if there is magic loop hole then please do let us all in on the secret as we could all do with saving euros right now.

Michael et al - you are correct.  George will avoid the lawyer's fees, but will have to pay the Notary, Stamp Duty, taxes and Land Register fees.  Polaris will take €3,500 to cover these, charging €300 for the service (and apparently give you back what is left over!!), or you can use your solicitor, bank or try and do it all yourself - visiting town halls etc. - but either way you pay.  I was thinking about doing it myself, but after a little thought, and checking on internet, decided that the €300 was worth getting rid of the hassle.

As far as method of payment, if using Polaris they want a draft on day of completion, but may take other forms if requested - they do state not cash!

George - Check your paper work, one thing you talking rubbish Saturday morning on the golf course, but you are giving these nice people duff information!!

Ted