Malaga & Costa del Sol legal and financial advice with Inmobillium
LEGAL & FINANCIAL ADVICE
We are dedicated to helping our clients to find their ideal property. We are able to recommend you independent legal and financial advisors to help you feel comfortable through all the purchase process.
The solicitor’s main responsibility is to check that the property has the correct paperwork, that it is correctly registered with the Land Registry, and that it is being sold with no outstanding debts attached.
He/ she will keep you informed of the progress of the sale and will organize the date for completion in accordance with all parties.
Spanish banks offer mortgages, however the lending criteria have become stricter, the main criteria are the property details and the buyer’s financial situation.
You can obtain between 60% and 80% of the purchase price or bank valuation. Depending on the property and if the buyer is resident or non resident.
Once you have found the property you wish to purchase, the bank will send a valuer to the property to do a valuation. The value calculated is based on the quality of build, the size and location of the property, and its legal status. This is called the “Tasacion” and is the document .the bank will use the value calculated to make you an offer. From the time that you present all the paper work requested to the bank and that the bank has approved the mortgage and is ready to sign, the time scale is about 4 weeks.