MORTGAGE LENDING

Mortgage lending is the best way for you to embody your dream into reality today, not putting it off until the best times.

Our company guarantees that you will obtain a credit on mortgage within the shortest possible time with the best banks of Spain. We shall ensure the credit quantity up to 80 % of the real estate value.

The credit is given for a period could be of 45 years. The credit rates can be fixed or floating. In case of a fixed rate, the interest on credit remains constant during all the period of its repayment, in case of a floating rate, the interest on credit is subject to the market conditions, refinancing rate of the Central European Bank, general economical situation. In practice flexible interest rates are proved to be more profitable, at use of the long-term credits.

In order to receive a credit on mortgage you must give the following documents to the bank assistant:

• passport for travelling abroad
• income reference of any form

In Spain, according to the law, monthly repayment of a credit can not exceed 30 % of monthly income amount, declared in the reference.

You have right of repayment of the credit before the nominated term, but thus the bank raises 0-1 % of the prematurely returned sum.

One of the obligatory procedures for receiving a credit on mortgage is the real estate insurance against all unforeseen circumstances. The given procedure is made by the insurance company (Correduria de seguros) which belongs to the bank or to the other reliable company.

Bank payment for a credit is made rather simply. You will open a private account with the bank, and monthly or quarterly the identical sum is written off from your account, depending on the specified mortgage in the contract. The amount of payment of a credit consists of the sum of mortgage repayment and the bank interest.

The bank has the right to increase the annual interest rate of crediting up to 25, in case there is no money on the account. Further, the bank can address to the court with a requirement of reimbursement and auction sale of your real estate, in case the money will not be transferred to the account within the next three or four months. If you have time to make all the necessary payments prior to the beginning of the proceeding, all the initial conditions are kept.

As a rule, a credit on mortgage is registered officially during 6-8 days.

DYNAMICS OF THE REAL ESTATE COST INCREASING

 The annual price increase at the coast of Costa Blanca makes up from 4 to 10 percents.

SPANISH LEGISLATION

Spanish legislation in sphere of the real estate comprehensively protects property and proprietors. The real estate can be bought by both juridical person or by one or several private persons. The proprietor is to be the one whose name is written down in the official document – (Escritura Publica).

COMMERCIAL USE OF THE REAL ESTATE

Buying the real estate in Spain, you should think, how frequently you are going to use it. You can come with all your family for a summer holiday, or buy a peaceful place beforehand, to ensure quiet old age. It is hardly probable, that the real estate will be used by you or your relatives the whole year.

TAXATION

Taxation of a property depends just on the real value of this property, wich is quite different if it´s a new or a second hand property.

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 IF YOUR ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES, THEN GIVE US A CALL.

WE OFFER A LOCAL, FRIENDLY SERVICE AT A COMPETITIVE RATE (WE WORK IN THE WHOLE MARINA BAIXA AREA)

WE´RE AVAILABLE FROM MONDAY TO FRIDAY FROM 10.00  A.M., TILL 20.30 

TEL  646 09 70 12  ALSO BY MAIL AT: eva@BenidormCity.com  

SKYPE: EVALIA ENTERPRISING SL

    
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