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My Home In Lanzarote finance information"

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Terms & Conditions

My Home in Lanzarote and proud to be associated with Currencies Direct.They provide a refreshing alternative to traditional banking and give

• Competetive exchange rates
• No Commission
• Express transfers
• Regular, monthly payments and friendly, professional service.
  

All you need to do is to complete a simple registration form which you can find here.
Registration costs you nothing and is a one-off operation. Even if you are not ready to use their services immediately, you can register now by post, telephone, fax or online.

Once registered, you can call Currencies Direct for help, advice and rate information as little or as often as you like.
Then, when the time comes for you to make transfers, your account is all set up and ready to go.
They also offer a superb, personal, one to one service where you will have your own dedicated team member looking after you. It is like having your own Personal Banker, but without the cost!

They can give you a more competitive rate on currency exchange than your local bank – and you don’t have to go through a call centre in order to speak to someone.

If you draw a pension and are concerned about receiving payments in Lanzarote, you can receive it every month just the same by using Currencies Direct.

They are justifiably proud of the fact that 70% of their business comes by referrals and word of mouth and My Home In Lanzarote are pleased to spread the word too!

If you would like a chat with Currencies Direct, you can contact:

Andy Karayiannis        
Email:           andrew.k@currenciesdirect.com
Phone:          +44 (0) 207 847 9467 (Direct line)
Fax:              +44 (0) 207 847 945
www.currenciesdirect.com

Mortgages (Back to top)

Whilst we are not affiliated to any bank over another, we recommend the services of Solbank and La Caixa.
Both of these banks have personnel who speak English and they can provide you with sound mortgage advice.

Typically, banks will loan up to 70% of the valuation of a property to a non-resident and up to 80% of the valuation of a property to a resident. We can arrange an appointment with a branch manager where you can be guided through the mortgage process and even have your mortgage application initially approved within 24 hours! You can also set up a bank account and internet banking at the same time. If you would like an information pack on the services these banks are offering, please click here and one will be sent to you.

Below you will find a typical example of a mortgage to purchase a property giving all the fees payable for both setting up the mortgage loan and other expenses involved.

Note that there are separate charges relating to both the bank loan and the purchase itself. This example does not take into account lawyers fees.

This is meant to provide you with a good idea of related costs and should be used as a guideline only.

Based on a 15 year term on a Variable Rate Mortgage.
Amount of mortgage:	125.000,00 euros or approximately 86.000 pounds sterling
Cost of home:	205.000,00 euros or approximately 141.000 pounds sterling
Interest rate initial period (typically 6 months):	3.5%
Monthly payment in initial period:	893.61 euros or approximately 617 pounds sterling
Interest rate in remaining years:	Euribor Official + 1%
Loan arrangement fee (typically 1%):	1.250,00 euros
Estimated Expenses of the Mortgage
Transfer Tax:	987,50 euros
Notary:	468,79 euros
Land Register:	336,57 euros
Gestoria:	204,34 euros
Land Register Check:	20,88 euros
Valuation:	223,00 euros
Total:	2.241,08 euros Total
Loan Estimate Expenses of the Purchase
Purchase Tax:	11.275,00 euros
Notary:	492,83 euros
Land Register:	396,67 euros
Gestoria:	210,35 euros
Total:	12.374,85 euros

We can provide you with an example such as this based on your individual requirements normally within 1 working day.

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Lawyers (Back to top)
If you would like to make contact with an English speaking Spanish lawyer, we recommend the services of :	Gorka Centeno Retolaza Calle Fajardo1, 35550 Arrecife Lanzarote Tel: (0034) 928 813 775 Fax: (0034) 928 806 049 E-mail: pcabogados@icam.es
Tax Advisors (Back to top)
If you would like to make contact with an English speaking Tax Advisor, we recommend the services of:	Karl Fuchs Auditax NL S.L. Calle Ruperto Glez. Negrin, 3-1 Post Box 164 35500 Arrecife Lanzarote Tel: 0034 928 811 662        0034 928 807 641 Fax: 0034 928 812 855 E-mail: fiscalidad@auditaxnl.com
Shipping Company (Back to top)
We recommend the services of:	T.C. Freight Services Ltd. Unit 4, Falcon Way North Feltham Trading Estate Feltham Middlesex TW14 0UQ Tel: 020 8890 7888 and ask for Tim Cordell or Cathy Jamieson Fax: 020 8890 9555 E-mail: sales@tcfreight.co.uk www.tcfreight.co.uk
	C&K Haulage Services 12 Calle Doctor Fleming Tias Lanzarote Tel: 0034 928 524 523       0034 928 524 190 UK Tel: 01279 452 444 e-mail: ckhaul@aol.com http://www.ckhaulage.com