Hi All,
I have looked into mortgages also and think probably the easiest way to do it is throught the builders mortgage. I have attached a couple of extracts from emails i have received from the CajaMurcia bank. Hope it helps.
First
APPROXIMATE COSTS
1. That mortgage is based upon a valution the builder did when starting the development.
2. Every chear, the interest rate of your mortgage is revised. They look at Euribor price and add 1 to its value in that moment.
3. We can ask for more than 20 years, but the authorisation depens on the age of the client.
4. We can do interest only mortgages for one year. 2 or 3 years ( at maximum ) must be authorised, maybe modifying something.
5. The set up fee is paid once the mortgage is finished. Normally, people pay this with money from their accounts, but if you want, you can ask for more money to your mortgage and include the costs, but for more than a 140.720 €, we have to ask for a new valuation, that will cost around 300 €.
6. There are other costs non related to the bank. I can tell you some approximated figures, it is not exact:
For a 140.720 €, the costs would be:
- Notary: 914,68 €
- Land registry: 609,79€
- Taxes: 1.407,20€
- Gestoria: 204€
- Diverse: 100€
General total: 3.235,67€
PAPERWORK REQUIRED
we need some papers to start preparing everything:
- passports
- P60
- Bank statements ( 2/3 months)
- Last 3 salary slips
You can bring everything when coming or sending everything by post.
TIME TO GET MORTGAGE SORTED OUT
It depends on when you agree the purchase at the notary with the builder. Anyway, if you do not need more money and there is nothing strange, everything can be ready in just one week, so if you think there is time enough since you are coming till you are signing at the notary, perfect then.
In relation to the paperworks, we need to justify all your incomes to our headquarters, so everything you bring to clarify numbers is good. You can ask at your bank how is the best way to declare those incomes.