A mortgage proposal which tells you how much you could borrow.

Expert, personal advice and the best professionals to see you through all the stages of buying a house in Spain.

Why UCI should be your first choice when purchasing in Spain?

Because if you are a Non Resident (European Union citizen) wishing to purchase a residential property in Spain, we provide you with the most appropriate solution.

Floating Rate Mortgage

We finance up to 60% of the value of your new home(*).

You can use your savings to pay off part of your loan, at no cost if the amount prepaid in any year is equivalent to 2 monthly payments.

We offer longer terms, of up to 40 years, so that you can pay off your UCI Sun Mortgage at your convenience(*).

(*) Maximum loan amount: 300.000 euros

Fixed Instalments Mortgage (up to 3 years)

Another characteristic of our variable mortgages is to offer you the option to set the monthly payments for the first few years. Variable rate mortgages are linked to variations in the reference rate, but with UCI you can choose the type of payment that best suits to your budget.

You can choose between progressive or fixed instalments.

With progressive instalments, you have smaller monthly payments at the beginning, when you most need the money. With the fixed instalments, you pay the same monthly amount during the first three years.

Moving home

Having a house in Spain, if you wish to move to a new one, there is no need to wait to sell your existing property.

You can have all the money you need to buy your new home while selling your current home without pressure. At the same time you pay a similar instalment that you would pay assuming you had sold.

How? With one loan we provide you with 60%(*) of the value of both properties. If you sell your existing home within the first three years, no fee will be charged on the agreed repayment amount.

If the sale does not go through during the first year, then during the 2nd and 3rd years, until sold, you would pay interest-only (**).

Options:

- To pay nothing during the first three months (i.e. no interest or capital payments).

(*) Maximum loan amount: 500.000 euros
(**) Minimum instalment will be the amount paid in the previous year.

Practical Advice

1. HELP AND ADVICE
   Buying a home in Spain can be stressful, but our team is here to help you every step of the way. We provide a mortgage proposal which tells you how much you could borrow from us, subject to a satisfactory appraisal of the property and provided the information you have given us is correct.



2. START HOUSE-HUNTING
   If you haven´t yet found a property, you can contact one of the Estate Agents, who will help you through the process and make sure that the property has been legally declared fit to live in.



3. MAKING AN OFFER
   If you are interested in a property, make an offer to the seller´s estate agent. If it´s accepted, you must make a down-payment and sign the deposit or reservation contract.



4. APPLYING FOR YOUR MORTGAGE
   Your mortgage adviser will help you to choose the best product to suit your needs and give you as much advice as you need to get you moving.



5. ARRANGING A HOUSE VALUATION
   A surveyor authorised by the Bank of Spain will check that the purchase price is adequate.



6. ADDITIONAL EXPENSES FOR THE BUYER:
   
   • House valuation fees
   • Land Register fees
   • Notary fees
   • Solicitors



7. TAXES:
   • Transfer tax (when you buy a second-hand property: generally 6%-7% of the declared value)
   • VAT (when you buy a new property: 7% of the contract price)
   • Stamp duty (generally 0.5% on the purchase and around 1% on the mortgage)
   The expenses and taxes (that have nothing to do with the lender) usually amount to approximately 10% of the purchase price.



8. CONVEYANCING
   After our solicitor has checked the legal title and made appropriate searches to check that there is nothing that would adversely affect the property and its value, he will arrange Conveyancing in a notarial deed and cancel previous outstanding debts, if any.

   Our solicitor will also check that the previous owner has paid all Property and Capital Gains Taxes and Owners´ Association contributions.

   If you wish, you can request optional services, such as checking due payment of basic utility bills (the cost depends on the service).




9. INSURANCE
   You are obliged by law to take out a Multi-Risk Home Insurance Policy on the property, naming as beneficiary the entity that grants the loan. You are also strongly recommended to take out adequate Life Assurance.