If funding is required against the purchase of Spanish property consideration must be given to Equity Release on an existing property in your home country against the application for a Spanish mortgage. One could be more favourable than the other esepcially with regards to setup charges.

We will only deal here with the Spanish mortgage.

The requirements for a Spanish mortgage are very simple and are as follows:

Proof of Income
If the applicants are employed a copy of the P60 of each is sufficient.

If the applicant is self employed a copy of the company accounts for the previous year or if the accounts of the company are prepared by a Chartered Accountant a letter indicating gross and net income will be accepted.If the husband and wife fall into different employment catagories a combination of the above is sufficient.

The interest rate prevailing at the point of purchase is usually fixed for the first year and variable thereafter at 1.50% above Euribor. ( European Interbank Offer Rate )
The joint income of husband and wife can be taken into consideration. The period of the mortgage will depend on the age of the applicants and the amount to be borrowed. Usually up to the age of 70 is accepted.

• No medical is required.
• Bank Reference
• A reference from your bank simply indicating that you handle affairs in an orderly manner.
• Property Valuation
• A valuation requires to be carried out on the property and it is on this figure that the loan amount will be based. Up to a maximum of 70% of the valuation will be available.
• Cash can usually be available within two weeks

Insurance
We are insurance agents and can provide cover for Buildings, Contents, Car etc.

If there is a mortgage involved it is not uncommon for the bank to insist in placing the Buildings policy with themselves. This is to ensure that cover does not lapse without their knowledge. When selecting an agent it is important to select one who will assist you in the event of a claim and not simply give you a claims form.

If a claim is made, quotes must be prepared and submitted for the cost of repairs or replacements and someone must be available to deal with the Loss Adjuster when he comes to inspect the damage.
Usually they only speak Spanish.Care must also be taken as to the cover put in place as there can be gaps as to what is covered by the Buildings policy and what is covered by the Contents policy. We advise all our clients on the type of cover required and also deal with all matters relating to quotes and Loss Adjusters.
At no extra charge

Legal Services
We have excellent legal backup available to our clients at much lower than the normal cost.

Property Conveyancing
The purchase of a Spanish property is usually your first contact with a Spanish abogado ( lawyer). He will conduct a search which will include the Land Registry, the Community, Tax Authorities and all the service departments such Electricity, Telephone, Water etc. to establish any outstanding debts.
If you have confidence in the agent you are dealing with it would be convienent to use his abogado. If not make some enquiries and select someone who comes recommended. There are other areas which would require the services of an abogado which are as follows.

Will
The making of a Spanish Will is a very simple but very important task and should be done as soon as possible after the purchase. The Spanish authorities will accept the wishes of an existing Will in an overseas country. However, the process is lengthy and will cost more than setting up a Spanish Will..

Power of Attorney
The majority of properties are purchased in joint names e.g. husband and wife. When it comes to selling the property both parties require to be present at the Notary. This may not always prove convienent due to employment or health comittments. As a result it is common that both parties grant Power of Attorney giving each other power to sign in the absence of the other. This means that only one of the parties requires to be present. The Power of Attorney could of course be given to the abogado, in which case neither of the parties require to be present at the Notary.

The cost of a Power of Attorney will be cheaper than a trip to Spain.

Spanish Residency
If your immediate or eventual aim is to become resident and possibly set up a Spanish company your abogado will be in a position to advise on the procedures and requirements.

Good legal advise will save you time and money.

After Sales Services
We are in a position to provide all the after sales services likely to be required, such as Property Inspections, Keyholding, Maintenance, Rentals, Cleaning&Laundry, Garden &Pool Care, Rentals etc.etc.

Having been in the property business on the Costa del Sol since the early eighties we have at our disposal a very dependable team covering all the areas mentioned above.
We can tailor a packge to suit your own personal requirements and at very reasonable rates.

Your account with oueselves would be managed on a professional basis with monthly statements issued. In addition to the above please bear in mind that we will also be available to advise on and assist with any problems which may arise during your own or your family/ friends visits to Spain.

Casa Care
The peace of mind of your property being in capable hands.