Weekender Alicante North Issue 120

32 FRIDAY 6TH DECEMBER 2019
www.weekender.news
Good time for mortgages
Homeless
figures
rising for
women
THE Valencian housing
and shelter charity Casa
Cariad have said that 40%
of the people it is helping
are now women, a figure
that has been rising
steadily over the last few
years.
The charity said that this
is a concern as the females
they help are more vulnerable
and highly subject to
exploitation outside of a
stable family and home environment.
In the past many people
who used the centres, over
half, were Latin American
by Simon Russell
males moving to Spain for
economic reasons and using
the shelters temporarily until
they got on their feet.
The increase in the number
of female users have
various reasons, including a
lack of affordable housing,
unstable work situations
and being unable to both
work and care for children.
In the last survey 49% of
the users were Spanish nationals,
just under 10% native
Valencians.
SPAIN is one of the best
countries in Europe to get
a property mortgage, with
many good deals around,
along with low costs
and flexibility.
After the new mortgage
law came into force in June,
buyers are in a better position,
certainly in theory.
Banks now have to pay the
setup costs over a mortgage
including the Actos Juridicos
Documentados(AJD) tax.
In the past, the house purchasers
were in charge of
paying the registration fee,
stamp duty, and the notary
by Alex Trelinski
fees, but now the bank assumes
that cost.
On buying a property, the
two things to will have to
shell out for are:-
The valuation fee that the
bank needs to realize in order
to assess the real value
of the property. That is a
fixed fee of between 300 and
500€.
Arrangement fee, which
varies from bank to bank,
but usually is one to oneand-a-half
per cent.
There are some banks that
are even assuming these two
costs, making it even a better
deal for you (but not all of
them will).
Other factors in play in
getting a good mortgage
deal are Spain’s low interest
rates, which are the lowest
for some three decades, but
on the downside with everything
that has been mentioned,
banks are generally
only financing up to 70 per
cent of a property.
In Spain there are three
main types of mortgages:
variable (adjusted with the
Euribor interest rate), fixed,
and mixed (a combination
of both).
Buy-to-let and interest-only
mortgages are not available
in Spain.
Mortgage terms are usually
from five to 40 years
maximum, and if you are a
non-resident you will be at
the lower end of this range,
as opposed to being a fulltime
resident.
It will take up to a couple
of months to get a mortgage
done and dusted, and
you will be able to enjoy
your property.
BUYING OR SELLING
YOUR PROPERTY?
SWISS PEOPLE,
SWISS VALUES!
• Experience
• Quality
• Timeliness
• Friendliness
Trust us to sell your property
CALL TODAY TO LIST YOUR PROPERTY
www.benimo-villas.com
Av. de La Marina 44
(Calpe Moraira Coast Road)
03720 Benissa
(+34) 965 74 78 74
(+34) 667 449 421
info@benimo-villas.com