Buying Overseas Property FAQ's

What would my annual running cost amount to?
If you allow between £800 and £1,000, you will have more than enough to run a 2/3 bedrooms property.

This includes: Water and electricity (Standing charges),
Fiscal representation (a professional who can arrange to pay your taxes in Spain for you in you are a non-resident),
Local rates and taxes,
Community fees,
Insurance,
Wealth tax.

Education
There are many main stream schools and although these are Spanish states schools you will find that children of all nationalities attend these schools therefore providing teaching for none Spanish children.

Your child will attend the school in the nearest catchment area, as in the UK. The typical school day begins at 09:00 am and continues until 12:00pm. The school day then re-commences after siesta 15.00 until 17.00. School transport is usually provided and school meals for those who required them.

Are there private schools in the area?
You will find various private schools on the Costa Blanca and the Costa Calida, most of which are registered with The National Association of British schools in Spain (NABS) to assure that they are approved by British Inspectors.

What is the health service like in Spain?
Whether you live in Spain permanently or just come for regular holidays, your health is important. Which is why it will put your mind at rest to know that medical treatment on the Costa Blanca and the Costa Calida is of a very high standard. if you have reached the age of retirement, you can receive medical treatment to the same standard as you would in the UK and if you do need treatment, you'll find shorter waiting lists to receive it.

If I only intend to be in Spain for up to three months every now and then, what will I do about medical treatment?
In this case your from E111, which you can obtain from your local post office will be sufficient. If you intend to engage in dengerous sport activities, it may be wise be to take extra travel insurance.

What should I do about my health if I am not retired?
If you are employed in Spain and you are paying into Spanish Social Security System, you and your family will also receive free medical treatment. If you are not paying into the Social Security System and you do intend to stay in Spain longer than six months, it is advisable to take out medical insurance in Spain. You will find this reasonably priced, depending on what type of cover you require and indeed your medical condition in general.

Can I get my pension paid to me in Spain?
Certainly, this is straight forward, all you need to do is arrange to have your pension paid into your bank account in Spain instead of in the UK. You can open a bank account on your inspection trip, so you'll be ready to go!

How will I go about arranging a Spanish mortgage?
It is possible for non-resident, to obtain up to 70% on a Spanish mortgage. All you need is: a P60 (or similar if you are self employed) and your last 3 wage slips or some proof of income. The bank can usually tell you within a few days whether your application has been accepted and your will get your mortgage on the completion of your property. Your Mediterranean Property Consultants reps can help you to arrange your mortgage through one of the banks we recommend in Spain.