COMPLETION - La Isla De Condado.

Hi everyone

We are nearing completion and still confused as to who to contact to open a bank account.  we have been told by the solicitor that it is advantageous to get the builders mortgage - have you found this to be correct? but they will want you to open their bank account - not sure how we stand with this one.  Also she wants to charge 1700 euros to file NIE, Power of Attorney, conveyancing services - does this seem reasonable.

What would your advice about mortgages be - such a big decision?

Roll on 2 months when hopefully all will be completed.  Has anyone any further updates with facilities on the island.

Thanks

Sue and Brian

 Hi Sue.

If you go with builders mortgage, you will need bank account to pay for mortgage,and normally they like you to have there own bank account, plus you will need bank to pay for service charges,water, electric, etc, the NIE, completion, you can do yourself, if you are over at time of completion, if not you will need solicitor, to act on your behalf, then you will need to give him/her power of attorney, it sound complicated, but is not, just your preference, if you go with solicitor, then they will charge, sounds about right for fees,if using solicitor.

Regards

Michael and Yvonne

Hi Sue,

1700 Euros sounds right to me for covering that work.  As for the builders mortgage, you can indeed save around 1,000 euros on the set up costs but I, like many people on here who were contacted by Banco De Valencia (if that was who contacted you) about the builders mortgage found them to be very slow in communicating.

Also, as mentioned by Silverfox, you will probably need another bank account with someone else in Spain to set up a direct debit to BDV for your mortgage payments. The reason being that they have no branches here in the UK which means that your bank here would not facilitate free transfers to them which you can get between say Barclays - Barclays Espana or Halifax - Banco Halifax.

Cheers...Julian.

Hi we completed in July and have opened an account with Santander.  We were recommended the bank on Campolsol as they speak very good english and it was completly painless to open the account.  Also we have an Abbey National account and by the end of the year they will be Santander and hopefully transfers will be free (to be confirmed!)

Hope this is useful