Use the following table to calculate the overall cost of buying property in Spain with a mortgage loan (in this case from Bankinter). That includes the price of the house, extra expenses, taxes and mortgage costs according to the terms offered by Bankinter for non-residents or for foreign buyers with Spanish residence permit.
All estimations are in Euros. To
convert euros to pounds click here.
|
Property
Price
|
167,000
|
200,000
|
| Mortgage
|
100,000
|
120,000
|
| Monthly quota 1st year
|
567.20 |
680.63
|
| Quota other years (estim.)
|
576.94
|
692.33
|
| COSTS |
| Notary
(purchase & mortgage) |
1,238.08 |
1,316.21 |
| Register (purchase & mortgage) |
528.90 |
601.02 |
| Valuation |
237.80 |
237.80 |
| Lawyers' Fees |
360.60 |
360.60 |
| Arrangement Fee (1,00%) |
1,000.00 |
1,200.00 |
| Commission (study) |
0,00 |
0,00 |
| Total Costs |
3,365.38 |
3,715.63 |
| TAXES |
| Legal Taxes (purchase & mortgage) |
3,050.00 |
3,656.00 |
| VAT (7%) |
11,690.00 |
14,000.00 |
| Total Taxes |
14,740 |
17,656 |
|
Property
Price
|
233,000 |
267,000 |
| Mortgage
|
100,000
|
120,000
|
| Monthly quota 1st year
|
567.20 |
680.63
|
| Quota other years (estim.)
|
576.94
|
692.33
|
| COSTS |
| Notary
(purchase & mortgage) |
1,370.30 |
1,400.35 |
| Register (purchase & mortgage) |
619.05 |
655.11 |
| Valuation |
237.80 |
255.20 |
| Lawyers' Fees |
360.60 |
360.60 |
| Arrangement Fee (1,00%) |
1,400.00 |
1,600.00 |
| Commission (study) |
0,00 |
0,00 |
| Total Costs |
3,987.75 |
4,271.26 |
| TAXES |
| Legal Taxes (purchase & mortgage) |
4,262.00 |
4,878.00 |
| VAT (7%) |
16,310.00 |
18,690.00 |
| Total Taxes |
20,572 |
23,568 |
|
Property
Price
|
300,000 |
333,000 |
| Mortgage
|
180,000 |
200,000
|
| Monthly quota 1st year
|
1,020.95 |
1,134.39
|
| Quota other years (estim.)
|
1,038.49 |
1,153.88
|
| COSTS |
| Notary
(purchase & mortgage) |
1,442.43 |
1,460.46 |
| Register (purchase & mortgage) |
673.14 |
685.16 |
| Valuation |
255.20 |
255.20 |
| Lawyers' Fees |
360.60 |
360.60 |
| Arrangement Fee (1,00%) |
1,800.00 |
2,000.00 |
| Commission (study) |
0,00 |
0,00 |
| Total Costs |
4,531.37 |
4,761.42 |
TAXES |
| Legal Taxes (purchase & mortgage) |
5,484.00 |
6,090.00 |
| VAT (7%) |
21,000.00 |
23,310.00 |
| Total Taxes |
26,484 |
29,400 |
| Property
Price |
367,000 |
400,000 |
| Mortgage |
220,000 |
240,000 |
| Monthly quota 1st year |
1,247.83 |
1,361.27 |
| Quota other years (estim.) |
1,269.27 |
1,384.66 |
| COSTS |
| Notary
(purchase & mortgage) |
1,496.52 |
1,496.52 |
| Register (purchase & mortgage) |
727.23 |
727.23 |
| Valuation |
278.40 |
278.40 |
| Lawyers' Fees |
360.60 |
360.60 |
| Arrangement Fee (1,00%) |
2,200.00 |
2,400.00 |
| Commission (study) |
0,00 |
0,00 |
| Total Costs |
5,062.75 |
5,262.75 |
| TAXES |
| Legal Taxes (purchase & mortgage) |
6,706.00 |
7,312.00 |
| VAT (7%) |
25,690.00 |
28,000.00 |
| Total Taxes |
32,396 |
35,312 |
