Buying Advice

What is an NIE Number?

An NIE is your tax identification number in Spain, and you will need it for everything that involves an official process, for example, buying a house or buying a car. It´s also used to process your tax and get connected to utilities.


How do we get an NIE Number?

You can apply yourself by filling in the EX-5 forms, along with supplying your

passport & photocopy, including paperwork that justifies why you need an NIE, or you can apply via a notary or lawyer.


Can we apply for a mortgage, and what are the basic terms?

The simple answer, is yes, you can apply for a mortgage, and the terms will depend on whether you are an official resident or not. For official residents, Spanish banks typically lend up to 80% of the value, whereas, as a non-resident they will lend up to 70%


Do we need to have a Spanish Bank Account to buy?

It´s more than advisable to have a Spanish account when you buy, as it will be much easier to pay any tax, utilities & expenses etc. It will also be much easier to justify the origin of the funds for money laundering purposes) and the final payment to the vendor must come from your bank account in Spain, already opened in your name.


What are the additional costs involved?

There are additional costs when buying a property in Spain, and you need to include these as part of your budget. Generally the costs on top of the purchase price will be 12 to 14% and will cover you for transfer tax (re-sale properties), IVA at 10% (new builds), Notary Costs, Title Deed Tax, Land Registry and Legal fees.


What is the current healthcare situation like in Spain?

Spain has one of the best healthcare systems in the world, and if you are living/working in Spain you will likely have access to Free State Spanish healthcare, paid partly by social security payments. If you don´t have the right to state healthcare, then you can organise private health insurance to cover you.


What protection do we have from buying an illegal build?

With Paramount Properties, our legal team do all the due diligence on our promotions to ensure that they are fully legal, before coming to market. This is Paramount to us.