I was wondering whether anybody has had similar expriences to me. I have recently bought a brand new property in spain and it feels like i am continuosly paying out fees. Where i think i have underbudgeted are with the notary fees for the buying and the mortgage. I have already paid approx 5000 euros in notary fees end of July although i do believe this includes stamp duty and escritura etc etc but i have now received two more bills. both approx 600 euros for the aduedo-entidad factura-fra notaria compraventa and the other aduedo-entidad factura-fra notariaptmo hipotecario. It all just seems so expensive on a flat bought for 162k with 93% mortgage in the Costa del Sol. I have accepted these costs although will be interested in other peoples experiences. So far my costs incurred for buying this property including mortgage fees have come to around 14.5%.
The icing on the cake today was a phonecall from the ayuntamente saying that my water contract is ready and will be about 200 euros…. surely not!!!
the normal costs are 10% without a mortgage and 12% with a mortgage – the reason being that you effectievly have two notarial signings when you have a mortgage – the first to grant you the mortgage and the second for the actual property itself.
There is also a 1% opening cost for the mortgage but this does vary from bank to bank and can be as high as 3%.
As for your water bill – you will have to pay for the installation of the water meter – which should only have cost you about 100 euros but as I dont know your town hall or water board I couldnt say. You will also find you have to pay a start up cost to Iberdrola for your electricity – this may well be a further 200 or so euros as well as your upcoming community costs.
Yep the Spanish way of life is much cheaper than the UK – until you actually buy a property here of course
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