Locations
: Villas : New Developments :
Townhouses : Country Homes : Plots
of land & Investments
Real Estate Majorca
A. Yes. Regarding the
mortgage, you will be asked to show proof
of income in the form of payslips or a P60.
If you are self employed a copy of your latest
accounts will be required. The bank will lend
up to 70% of the purchase price on the first
property and 60% of the purchase price should
you buy more than one. Opening an account
again is very quick and easy. You will need
to show your passport and two other forms
of ID. Opening an account and requesting credit
and debit cards is then done almost instantly.
The bank we will introduce you to will be
expecting you as we will ensure they are aware
you will be going to them.
Q. What type of Majorca
mortgages are available?
A. As in the UK you can have a
fixed rate mortgage or a variable rate mortgage.
The popular option at the moment tends to
be the variable mortgage. With this, your
rate is fixed yearly in advance and reviewed
at the end of each year and adjusted for the
next 12 months.
Q. Do you pay Council
Tax when you own a property?
A. You pay a tax called Town Hall
Tax which is for services such as refuse collection,
etc and amounts to a couple of hundred pounds
per year. Other taxes and costs include a
Wealth Tax which is worked out against the
value of your property, but is very small,
and community charges set by the management
company should you purchase a property within
a complex.
Q. How do I pay the bills?
A. If you open a Spanish bank
account the bank will organise direct debits
to cover all utility bills. Then it is a case
of transferring the funds from the UK which
can be done electronically via your British
bank account.
How do I know my Majorca
property will be safe in my absence?
A. We will introduce you to a
Brit who has lived in Majorca for 30 years
and is therefore fluent in Spanish. This person
can do as much or as little as you want them
to. They will charge a yearly fee for their
services however you decide what you need
them to do. Our contact is very useful for
all types of things such as local information
and advice, key holding, arrangements around
furniture delivery, cleaning, renting, etc.
etc.
Q. Do I need heating
for the winter?
A. Heating is advisable
as winter evenings in Majorca can be chilly.
Air conditioning units are the best as they
cool temperatures in the summer and can be
adjusted to heat room temperatures in the
winter.
Q. How do I get from
the airport to the resort and back again?
A. If you are used to package
holidays transfers to and from the airport
are included and are never an issue. Owning
your own property means you are responsible
for getting yourself to and from the airport
once in Majorca. The popular way is of course
car hire which can be done via the easyjet
website or ringing Avis who we would recommend
(see our link section). To hire a car you
will need to take your UK driving licence
and a credit card. The rental companies are
based in the arrivals hall in the airport
at Palma and the cars are always parked in
the multistory car park on the ground floor.
You should always refuel the car prior to
handing it back and there is a petrol station
at the airport. This is important as you will
be charged over the top for fuel should the
rental company have to refuel the car themselves.
If driving is not for you there are plenty
of taxis at the airport. A tip here would
be to enquire about the price of your trip
before you get into the car. Taxis from the
resorts going to the airport are always cheaper
than taxis from the airport going to the resorts.
