Q: What is the cost of a property in Mallorca?
A. It will be fair to mention that Mallorca is a bit more expensive than the mainland Spain. The Prices will begin at around 110,000(Euros) (£76,000) all these for a single bedroom apartment that may rise depending on with the property size. The larger and luxurious it is, the higher it will be in terms of cost. While purchasing the property located in Mallorca then you have to include a 10% value to the buying price to act as rough estimates for the purchasing costs as, survey fees, tax, etc.
Q. Is it easy to buy a property in Mallorca?
A. Very easy. The guides will be introduced to you and will therefore guide you through the process by a friendly, warmly and efficient way. These all reside in Mallorca. They are entirely professional all are fluent in English. They as well possess vast experiences when handling the people like those living in the United Kingdom. We assume those who have never purchased a place anywhere abroad before. They will help you go through the entire steps for the Mallorca process of property sales.
Q. But how can the deal be trusted?
A. Use those people who will introduce you to save the wasted time and possible anguish. This will end up taking away the worries of trusting these people. There is personal experiences all of them and otherwise we would not be recommending them as this will risk our reputation as well as our entire whole business if they were at all shady. The Mallorca Properties Majorca gives a guide and also deals with the issues that you may not understand from the onset to the end of sale.
Q. What nature of deposit do I need?
A. Once you locate a property in Mallorca then you can purchase it using the agreed cost via the agent. This is handled a lawyer who introduces you to the means for spend a 10% of the buying price to the client account that is held by the agent. Purchase Contract once signed and deposit sent you can expect to finish the deal by the stated date. It is crucial to negotiate it properly by the lawyer. If you don’t finish the deal in the given period you can lose the 10% deposit.
Q. Is it possible to access mortgage and open a bank?
A. Yes. Concerning the mortgage, you have to show proof of the income by way of pay slips or the P60. If self employed then get a copy of the latest accounts. The bank lends close to 70% of the buying price for the first Mallorca property and additionally a 60% of the buying price if you purchase more than a single property. Account opening is very fast and easy. Show your own passport other forms two of them of your ID. Requesting for credit and the debit cards is there and then done almost instantly. Initially bank will give you an introduction of expectations. It will be ensured that the banks are aware of your visit.