The Latest Spanish Property News from Kyero.com
May 24th, 2007
Many Britons dream of owning a property in Spain, but research shows that when buying property abroad, only three in ten Britons have a survey carried out.
Banco Halifax Hispania believes that the importance of having a survey carried out cannot be overlooked when buying a property in Spain, as there are a number of things that could go wrong with the property which are not immediately obvious to the untrained eye.
Although surveying fees will increase the purchase cost, this sum is a relatively small price to pay for peace of mind, compared to the expense of trying to sort out unexpected difficulties in the future. It also makes sense to know exactly what you are buying into.
A professional surveyor will be able to identify signs of damage or causes for concern. Finding out about these potential problems at an early stage of buying may even help the renegotiation of a cheaper sales price to reflect the cost of repairs.
Banco Halifax Hispania has an approved panel of English speaking Spanish surveyors who can assist you during your property purchase. Banco Halifax Hispania can also recommend English speaking Spanish solicitors who will ensure that all aspects of the purchase, including planning permission, title deeds and other legal requirements are satisfactory and will investigate the property as thoroughly as possible. They will also be able to carry out searches and legal investigations and check that there are no outstanding debts on the property.
This process is likely to be much smoother if the surveyor in Spain is fluent in English and has local knowledge and experience of acting for British customers. It is also good practice to use an independent solicitor rather than one that has been appointed by the agent that you are buying property from, to protect your best interests.
Ian Smith, head of European Operations at Halifax said: “Our approved panel of independent solicitors and surveyors are all experts who can provide sound guidance and reliable advice and we recommend that anyone intending to purchase property in Spain arranges a consultation as early as possible. Few people would consider buying a property in the UK without instructing a solicitor or surveyor and the same care and consideration should be taken when buying abroad.”
Banco Halifax Hispania offers a range of current account and mortgages for Britons looking to buy a holiday home in Spain. It also provides an English speaking helpline within the UK for customers who wish to sort out their financial options prior to arriving in Spain. The helpline answers queries about what’s involved in buying in Spain and can arrange for the completion of mortgage and bank account application papers.
