Frequently Asked Questions
Why Choose Lanzarote?
The great outdoors, including a dramatic volcanic landscape, can be enjoyed all year round with Lanzarote’s reliably warm weather. The island’s temperate climates are also good news for those with bone/joint issues. And it’s no more than one hour from one end of Lanzarote to the other, making the island one of the more accessible places to live. There is a well-established English speaking community, especially in the coastal resorts. You’ll never feel alone if you’re prepared to make the effort to make friends.
are prices negotiable?
Prices are almost always negotiable; nothing is ever set in stone.
do i need a lawyer?
It is not compulsory to use a lawyer however if you decide this is the option you want to take; we have bilingual law firms which we can recommend.
how do i open a spanish bank account?
You will need a valid passport and a NIE number. We can assist you with this and help organise your first appointment at the bank.
do i need a nie number?
If you are thinking of buying a house in Spain you will certainly need your NIE Number. … It is a legal requirement for all resident and non-resident foreigners with financial, professional or social affairs in Spain – regardless of whether they are EU citizens or from a non-EU country to have a NIE Number.
choosing the property
Think and make a list of what you need out of the property. This can be forgotten in the excitement of the buying process. Take into consideration the location. Do you need to be near a school, would you like to live by the sea, in a village or in a busy resort? There are many things to think about so take your time doing the research.
making an offer
Once you have found the property that ticks all the boxes, you can then make an offer to the agent who will present this to the vendor on your behalf.
extra costs
As a guide allow around 10% over and above the purchase price of any property to allow for all your expenses. This includes notary fees, transfer tax, land registry fees and any mortgage set up fees.
can i apply for a mortgage?
Documents to apply for a Spanish mortgage. NIE number. Proof of employment or income. A pre-agreement with the seller. Proof that the property tax is paid to date. Details of your current debts and mortgages. Copies of all your existing property deeds (in Spain and elsewhere) Records of your
current assets. Obviously, each bank has their own policy, and each client has their own personal circumstances so the paperwork can be different depending on each case.
how long is the process?
In general terms the purchase process takes between six weeks and three months and in general is a procedure which your lawyer will handle with ease.