The Buying Process
Buying a property in Spain is very straight forward. Mercers always recommend you use a lawyer to oversee the transaction and to carry out the necessary searches.
We have compiled some important information below but if you feel that you would like to learn more about buying property in Spain or have any questions, then please do not hesitate to contact us.
If you are not in a position to purchase at the moment, you may feel that you would like to be kept up dated and informed on our wonderful range of Spanish properties and what is happening in the Spanish property market.
We highly recommend that prospective clients go on a Mercers inspection trip, as they are without doubt the best way to view property. These are dedicated 2/3 day viewing trips, during which you will be able to see the area in detail, as important as the property & of course look at our new developments and/or re-sale properties. Our trips include airport transfers in Spain, hotel accommodation for 2 nights on a B&B basis.
At Mercers we have always followed a simple philosophy. Treat prospective purchasers as you would like to be treated yourself. This might sound obvious, however in the real world things do not always happen as they should.
Buying a property in Spain should be a pleasurable experience and at Mercers this is what we strive to achieve. We could fill pages with endorsements from our own clients, thanking us for an enjoyable and un-pressured Inspection Flight. This is how it should be and it is gratifying to know that our clients back up our claims.
An Inspection Flight with Mercers is something that you will not regret, in fact you may even recommend us to your friends, many of our clients do and this surely is the best form of endorsement.
Call Now to arrange a visit - +44 (0) 845 0177 805
If you are travelling independently or are simply on holiday and wish to view property during your stay, we can arrange for an appointment with one of our team. We will show you around a selection of properties together with the highlights of the surrounding area.
The day will be designed to your individual requirements and is highly recommended as you will be shown the properties of your choice plus the surrounding area.
Mortgages for Spanish Property
Due to the Global financial crisis the majority of Spanish banks are reluctant to grant mortgages in excess of 50% loan to value (LTV) on privately owned property.
If the property is bank owned or is been sold by a developer with bank funding, then loans of up to 100% are possible.
We recommend that buyers try to source funding in their home country, as this is more likely to be successful. This funding would be dependant on holding an asset (in the home country) that can be used as security against the loan.
As with all mortgages and loans proof of income will be required.
Whilst bank funding is tougher now to secure, the property prices in our part of Spain have come down by around 60%, therefore the prices are exceptionally good value for money and make the hard work of obtaining finance all the more worthwhile.
Mercers and Currencies Direct
Whatever your foreign currency requirements, whether you are transferring savings for your new life in the sun, investing in property abroad, making regular currency transfers overseas or needing holiday money each time you travel, we understand that you will want to get as much for your money as you can. That's why Mercers has teamed up with Currencies Direct to offer you the best service and the most competitive foreign currency exchange rates available today. With years of experience providing financial solutions, Currencies Direct have developed an innovative range of products and currency transfer services that can help to minimise your foreign exchange risks and take the hassle out of international payments.
Available products and services
Buying a home abroad: No matter what the reason you're buying a property overseas for, don't forget the importance of the foreign exchange rate on your purchase.
Emigration: If you're in the process of emigrating, getting the best exchange rate and therefore the most for your money is crucial to your new life.
Overseas Education: Sending your children overseas to study can be daunting. We'll make sure that paying those fees in a foreign currency won't add to your worries.
Buying something special: Importing a new car, a boat, antiques or even wine? We'll make sure the foreign exchange doesn't spoil the pleasure of your purchase.
Regular Transfer Plans: Thousands of customers have joined the Overseas Regular Money Transfer Plan and enjoy the many financial benefits.
Online payments/transfers: Easy, fast, secure online payments. Manage your foreign payments from anywhere you have an internet connection.
It has become imperative that all overseas property agents carry out their own Due Diligence, before even contemplating the actual marketing and selling of the properties.
This is especially true in the case of new builds and urbanisations.
What does Due Diligence actually mean and what do Mercers do?
Due Diligence means to carry out various investigations into (in this case) a property or new development. This is designed to look into every aspect of the property and to make sure that what we are selling is in fact what you will buy.
We need to satisfy ourselves that everything is legal and above board. How do we do this?
We use a firm of highly specialised lawyers to look into:
Once we are satisfied that all of the above have been 'ticked' we then look into the project to make sure that we are happy with the overall concept and securities put in place and only then do we then start to market the properties.
Of course as an experienced agent, carrying out this level of Due Diligence, should be the norm. Unfortunately it is not and that is why we all read about horror stories in the press.
We recommend that you use an experienced lawyer to carry out the conveyance procedure and to help with other aspects of the purchase.
Who you choose is entirely up to you, however we do recommend you use a Spanish, bi-lingual lawyer, who knows the procedures and is experienced in them.
At Mercers we work with a number of very good independent Spanish lawyers, we are happy to recommend them to you.
With Mercers Due Diligence checks and our Mercers Guarantee, you can rest assured that your purchase in Spain will be as it should be - enjoyable, stress free and hopefully profitable.
Living in Spain
Living in Spain
Spain is a full member of the European Union or EU and as such, we as British nationals have freedom of movement throughout the EU. This means that we can live and if required work in Spain without great difficulties
UK Government pensions are payable directly into your Spanish bank account by the relevant agency.
Once registered as a resident in your chosen location, you can also enjoy the full benefits of the Spanish health care service, assuming you are of pensionable age or are working. There are also numerous private health care companies in Spain and normally these are cheaper than the English equivalent.
There are many international schools in Spain. These are private day schools, where the teaching is predominantly in English.
The majority of these schools follow either the International baccalaureate or the IGCSE exams.Spanish state schools are very good and follow the Baccalaureate system. The teaching (as you would expect) is in Spanish.
Young children tend to pick up Spanish very quickly and are therefore ideal for the Spanish education system. Older children tend to take a little longer and are normally put in a school year below their UK equivalent, as it often takes 6-12 months to master the language.
As you would imagine the climate in Spain is ideal for outdoor pursuits. All sports are available with golf, tennis, football, sailing and swimming being the prime examples.
Spain also has excellent (and cheap) skiing in the Sierra Nevada mountains (Granada).
The Mediterranean offers a wealth of options to the scuba diver, with Mazarron having two very good diving schools.
Due to the close proximity to the sea, seafood is always a favourite option. One of Spain's traditional dishes is of course Paella and this comes in many guises depending on the region.
In the winter months Andalucia produces wonderful game, such as wild boar, venison and partridge.
Olives and olive oil are a must as are the abundant and very cheap oranges and other citrus fruit.
oth Murcia and Andalucia are well known for their "peasant food". This normally comes in the form of hearty stew, with Gabanzas (chickpeas) or rice as a base. Served with fresh crusty bread, drizzled with local olive oil and washed down with a robust red wine.
Call the office on +44 (0) 845 0177 805
Get In touch
Hi Sylvia and all at mercers.
Thank you very much for the
quick sale of my property in spain.
Exellent service and communication
all the way through,it made selling
on my behalf stress free by your
Mr F Dorrington | Camposol