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Whatever your reason for purchasing Brighthouse Overseas will ensure you receive total satisfaction from your property.
It’s not difficult to see why thousands of foreign buyers choose to invest in southern Spain every year. With its miles of golden sandy beaches, incredible scenery, tranquil villages and bustling coastal resorts, this diverse and beautiful region has something for everyone. Buying a property in Spain isn’t tricky, just some of the processes are a bit different to other countries. Many processes are similar, but with different names – and, of course, it’s all in Spanish but don’t panic. Everything can be done in your own language, including translated contracts and other documents, so that you know exactly what you are signing.
What can I afford?
Decide your budget before you start looking - not forgetting to add 10-12% of the purchase price for the fees and taxes. Interest rates in Spain are significantly lower than in the UK and other parts of the world, therefore your money could go a lot further than you realise. |
And when it comes to arranging a mortgage, you could be in for a pleasant surprise once you find out how much you can afford.
Buying Off-plan enables you to select the most sought after properties on any of our developments. The best units offer higher capital appreciation in the smallest time frame and often demand the greatest rental incomes. |
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But what is Off Plan?
Off plan is buying a property from the development plans before construction commences. It gives you the benefit of purchasing at the lowest price. The price will then be increased during construction until the final price at completion. Buying property Off-plan is proven to be a superb method of investment.
At Brighthouse Overseas we constantly seek new investment opportunities for our clients, but, more importantly, we have a comprehensive set of exit strategies in place (ways of realising your investment) to ensure that you make the best possible profit on your investment at the right time.
We will be delighted to go into the detail of purchasing off plan with you personally without any commitment.
Construction Progress:
As the development is constructed, the value of the units begins to rise.
Price appreciates as more units sell:
As more units are sold, the price of the remaining units will rise. Many buyers prefer to see the actual product they are purchasing and pay a higher price. They often buy to rent. Off plan purchases achieve this and capital growth. Off plan investment is an excellent choice especially in Spain and we are dedicated to sourcing the best investment options for your particular needs.
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We will gladly help you generate personal wealth through safe and intelligent off-plan investment.
Reserving a property:
When you have decided on the property you wish to purchase, it will be necessary to place a deposit of €3,000-5,000 depending on developer. *This may be paid via credit Mastercard/Visa, cheque or cash (Euros). This deposit will reserve the property for you and will have it removed from the market. The holding deposit is fully refundable for a period of 30 days, unless otherwise stated. This will give you sufficient time to visit Spain and view the property. If you cannot visit during this period you will be expected to make your holding deposit definite, i.e. non-refundable. Alternatively, if you decide not to proceed your deposit will be refunded in full.
Mortgage:
When buying an off plan property it is possible that the developer will offer you a mortgage for your property with favorable terms and conditions.
However, there are alternative ways of financing your purchase/multiple purchases, such as;
i; An alternative Spanish mortgage with a different bank/lender
ii; A UK mortgage
iii; An equity release on your UK proper
At Brighthouse Overseas we will be able to introduce you to an experienced mortgage adviser that can assist you with your decision and ensure that you choose the most suitable form of financing, taking into consideration various factors including your personal circumstances, your age, the deposit you have available, the amount of capital you need to raise etc.
The terms and conditions of mortgages differ depending on the specific lender. However, all lenders will require some form of proof of income (P60, Annual accounts, copies of Income tax returns etc.) and a deposit varying from 10% to 40% of the value of the property. We recommend that Tax issues be discussed with an independent tax advisor. |
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Sterling Exchange - Foreign Exchange Made Simple
When making an overseas purchase, currency exchange may not be the first thing on your list. It can be equally as important as the purchase price though, as the exchange rate has a direct and noticeable impact on your bank balance. With this in mind Brighthouse Overseas recommend Sterling Exchange for all of your foreign currency needs.
As one of the fastest growing currency providers in the UK, Sterling Exchange will provide you with your own dedicated account planner from start to finish taking the hassle out of foreign exchange. Ensuring you receive the best rates of exchange available our planners will watch the market for you and can update you every step of the way on any sized transaction. Sterling Exchange will also be able to find you the best payment plans to suit your needs.
Why Sterling Exchange?
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Free transfers on any sized transaction
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Superior exchange rates to the high street bank
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Account opening facilities with leading banks from our office in the UK,
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Quicker payments via SWIFT international payments
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Fixed Exchange rates for up to 2 years
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A 24hr Information desk
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Personal account manager
Based in the heart of London’s financial district with over 20 years market experience, Sterling Exchange is in a prime position to offer you a cost effective alternative to your bank’s foreign money transfer service.
For further information please click here – Client information brochure.
Or contact Robert Groves on
Tel 0207 329 9977
Fax 0207 329 9332
email robert@sterlingexchange.co.uk
Web www.sterlingexchange.co.uk
Additional Costs:
We recommend that you budget for an additional 10-12% of the purchase price to complete your purchase; this amount will include 7% IVA (Spanish VAT), Mortgage fees, Solicitors fees and Notary fees.
Finding a Lawyer:
We can recommend an experienced, English speaking lawyer that will be able to assist you with your purchase. Their unique service ensures that correct procedures are followed to ensure a smooth property purchase in the Spanish property market.
Your lawyer will undertake all the necessary due diligence and checks on your chosen property and safeguard your investment.
If you do not wish to visit Spain to complete, a Power of Attorney can be given to your Lawyer who will arrange the completion on your behalf.
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Guaranteed Rental Returns:
Spain is currently, without doubt, still one of the best property hotspots. A superb country with miles upon miles of glorious sandy beaches, top golf courses and a warm welcome wherever you go. Blend these features with top quality homes at terrific prices and you have the perfect investment.
At Brighthouse Overseas will ensure that your property is at its best for rental. We can advise on professionally selected furniture packs at best value for money. You will have the opportunity to purchase properties with BANK guaranteed rentals. Also, certain developers of top resorts offer guaranteed rentals.
We can advise you to the best rental management companies for your destination. Your property will be head and shoulders above others for renting.
At Brighthouse Overseas we will only offer these if they are fully satisfied that they are achievable. Ask us for further details. |
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Spain
