A 10 of the new declared value on the escrtitura. They are as follows: Transfer Tax 5 ((Impuesto sobre Transmisiones Patrimoniales y Actos Jur?dicos Documentados- Mod 600) when you buy a RESALE property from a private owner. Title Deed (Documented Legal Acts Tax) (Impuesto de Actos Jur?dicos Documentados) 0.5 of the declared value Notary Fees This fee is about 0.75 of the purchase price may be requested. Plus Valia Tax The Plus Valia Tax is a type of capital gains tax, based on the increase in value of the land and not the increase in value of the property. It is strictly speaking, a tax payable by the seller, but in practice the purchaser is normally asked to pay all fees and taxes due on transfer of property, this can be negotiated at the time of sale. This is a tax levied by the Town Hall and is based on the surface area of the land and is calculated at various rates on the annual increases in the value of the land since the previous sale, on the cadastral value and on the date of the previous escritura. Guide to Mortgages Non-residents can obtain between 60 to 70 mortgage opening commission Insurance will vary from 120? to 240? per year. Notary and registration of the mortgage
Advantages: Provided you submit the requested financial information, it should be in place within 10 to 15 working days. The financial information required is minimal Amongst the lowest interest rates in Europe, currently approximately 3.75% Banks in the Canary Islands will finance you a percentage of the valuation, NOT of the real selling price, sometimes higher than the buying price Frequently asked questions
What is a sales agreement? A private document signed between the buyer and seller. It must reflect true ownership, legal definition of the property, the exact dates of payment, currency of the transaction (euros, pounds, dollars etc) completion dates and penalty clauses. We strongly recommend that the vendor commits to paying double the amount of the deposit paid should he withdraw from the contract. There would also be a penalty paid by the purchaser in the amount of the deposit held should he withdraw from the agreement. Is it easy for a foreigner to obtain a mortgage? Yes, Provided you can submit basic financial information to them, getting a mortgage here is much easier than in most European countries. Other costs involved in owning a property in Tenerife
LOCAL RATES Local rates are payable annually, and are calculated from the rateable value of the land assigned by the local Tax Office. RUBBISH COLLECTION The rubbish collection rate is applied by the Town Hall according to the property and payable every 6 months. WATER RATES Water consumption is calculated by the water meter and is payable every 3 months. Payment can be made directly at the Town Hall or by bank with direct debit instructions COMMUNITY FEES Properties on some complexes will have an annual community charge to cover costs of general maintenance, pool care, gardens, reception etc. Depending on the size of the development and the services offered, this can vary between ?800 and ?1200 per annum. Other complexes will not share services and there will be a minimal fee to cover street lighting etc. ELECTRICITY Charged bimonthly with minimum rates applicable (whether you are in residence or not). Don't forget you use a lot less electricity in Tenerife as no heating is required. TELEPHONE Charged monthly. Standard rates vary according to equipment installed, but can be in the region of ?9 per month including a touch-dial telephone. Broadband internet connections are available in Tenerife. These guidelines are meant for guidance only and describe a straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take.
One of the memorable occasions for the newly wed couple is a honeymoon vacation. Heavy preparation and planning are required for a wedding. The ideal way to relax and enjoy is to go for a honeymoon trip. A major decision is to be taken to choose an appropriate honeymoon destination. Your honeymoon must have full of love and romance and so you must look for a romantic honeymoon destination. Spain is a great place for making a honeymoon trip. You can enjoy the scenic beauty of Spain by going to a National Park, hiking trails, walking and motor excursions. Such things are ideal for exploring the beauty of the marshes, wetlands, mountain peaks, coastal dunes and the Atlantic beaches.
The Canary Islands are located in the Atlantic Ocean under the Kingdom of Spain with seven islands of volcanic origin. The Canary Islands are located in the northwestern African coast and were formed due to the past volcanic activities. The Canary Islands have always offered the newly wed couples an ultimate romantic honeymoon experience. The Canary Islands are called as Spain's paradise. The weather is generally sunny and warm round the year. This is the best place if you hate winter.
You can visit Lanzarote, Tenerife and Gran Canaria in the Canary Islands. The best way to visit the Canary Islands is by air. These places have good airports and receive a lot of international flights. You can also take a flight from any of the European cities, apart from Spain.
A trip to the Canary Islands is a real getaway for newly wed couples who want to strengthen their marital bond by tasting the three 'S’s: the sea, the sand and the sun.
Here are a few tips to locate a honeymoon venue in the Canary Islands:
Step One: Research on your own. Identify the spots that you wish to visit and want to know more details about them. You can do this online by any search engine.
Step Two: You can visit online travel sites, which offer honeymoon vacation packages. You can compare the amenities, prices etc. here.
Step Three: You can also check with your local travel agent. If you get some prior idea of how much you have to spend to book a Canary Island vacation package, then you can visit the travel agent in person and know more on the vacation packages offered by him. You can then compare with the details obtained on the Internet and can decide the best among them.
Step Four: You can decide after weighing the options based on your needs. You have to book in advance if you plan to make an agency or online booking.
Step Five: Enjoy your romantic honeymoon vacation in your chosen destination.
Both Anthony Riley & Lesley Lyon are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Anthony Riley has sinced written about articles on various topics from Home Remodeling Ideas, Property Guide and Real Estate. Anthony Riley is a consultant to . Anthony Riley's top article generates over 18100 views. to your Favourites.
Lesley Lyon has sinced written about articles on various topics from Sauna, Finances and computers and the internet. discusses the most popular honeymoon destinations in detail. Lesley Lyon's top article generates over 90500 views. to your Favourites.