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Can I complete the purchase of a property in Spain without a NIE?
In a clear homage to my youngest daughter’s favourite cartoon: yes you can! I am talking about NIEs and not laying bricks but contrariliy to what happens in the Bob the Builder’s cartoons, the lack of NIE will not necessarily lead to a happy ending. A NIE number (tax number for non-residents who either…
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What is a “cedula hipotecaria”?
You may have heard about the “cedulas hipotecarias” or covered bonds. A “Covered Bond” is a financial product guaranteed by the whole mortgage portfolio of the bank itself with an interest linked to it. This is a safe product in a normal economic climate and it could be quite profitable (in fact, during the property…
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Fire in the Costa del Sol- How do I claim for losses and damages?
You may have heard about the terrible fire that affected the Costa del Sol last week. The fire started on August 30th at 7 pm somewhere between Coin and Mijas (Barranco Blanco area) and it spread towards other towns such as Marbella, Ojen, Monda. The fire stretched out with a length of over 30 km among five municipalities: Alhaurín el…
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Spanish Consulate in Edinburgh- Powers of attorney
I have received several phone calls in the last few weeks asking me whether it would be possible to sign a power of attorney at the Spanish Consulate in Edinburgh. My understanding is that a new Consul will arrive shortly, probably in the next two weeks. Until such time,…
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Changes to the Spanish Tenancy Law- Hit or miss?
The current Spanish Government is betting for a surge in rentals as a way to compensate the stock of properties for sale that cannot be currently absorbed by the market. For this reason it has implemented a project of law that, in the Government’s opinion, will revive the rentals…
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Changes in obtaining NIE in Spain
Good news! There has been a relevant development in Spain and from now on it is possible, again, to apply for a NIE numbers in Spain through a representative. This means that those British nationals who require a NIE in Spain can give power of attorney to someone based in Spain and enable him or…
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What can be bought these days for less than 150,000 Euro?
This is a question that I have asked myself in several occasions. I am obviously talking about Spain, the main subject of this blog. Some experts state that the market is full of bargains. Lets see if it is true. 150,000 Euro is a relevant amount of money. This amount can buy you…
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Dacion en pago for non-residents. Do we have a deal?
If you have read the Spanish press this week you will probably have seen plenty of articles on the Government’s new proposal to solve the current problems with those who cannot pay the mortgage. Luis de Guindos, Minister of Economy, will announce this week some new measures to enable consumers to surrender their properties back…
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Lets talk about gifts
In this space I have talked about wills and inheritances very often but never, as far as I can recall, about gifts. Is it generally a good idea to gift assets in Spain? The answer is also generally no. Why? For one simple reason: taxes. A gift will always be subject to gift tax…
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Ok, marriage is over. Now what do we do with the property?
Many Brits own property in Spain. In most of the cases, the property is owned by a married couple. So, what happens when the couple divorce or, more specifically, who gets the Spanish property? The most normal thing is for the Judge who deals with the divorce to make a provision in the…
Do you have any questions?