Re-registering English Car in Spain

Would anyone that has completed care to share the fee details with everyone ?



1) Completed with no mortgage ?


2) Completed with builder's mortgage ?


3) Completed with non-builder's mortgage ?


Bit like someone asking you what you paid for your holiday then complaining at you when yours turns out cheaper than theirs  

60% Builders mort  top up to cover fees and costs

STAMP DUTY:

- Murcia treasury (1% of the value declared on the deeds) = 1,368€

- Notary = 1,500 €

- Land registry fee =  528€

- management fees = 264€

 

Costs for the first mortgage of 82,080€:

- Murcia treasury = 0 €

- Notary = 0 €

- Land registry fee = 0 €

- management fees = 0 €

 

Costs for the second mortgage for 13,680€:

- Murcia treasury = 267 €

- Notary = 350 €

- Land registry fee = 170 €

- management fees = 190 €

 

Total CAM fees: 820.80€

Many thanks

Only gotta pay em once i suppose

Hi Shampers

Just received an e-mail from my solicitors with the attached charges needed for completion.  I have gone to Bancaja and not taken the builders mortgage OMG they are cheeky ........... !! they are charging 500 euros to insure the property might have taken that on the chin but they are trying to hit me with 1.5% bank opening commission (1437 euros) what the hell is that can anyone tell me as I don't know what it means apart from taking the p---  !!  This relates to a 3 bed apartment

Hope it helps wish someone would help me............

Jax 

Purchase price		136,800.00 €
IVA Tax (7%)		9,576.00 €
Stamp Duty conveyance(1%)		1,368.00 €
Notary Fees conveyance (estimate)		700.00 €
Land Registry Fees conveyance (estimate)		400.00 €
Legal Fees (1.200 + VAT 16%)		1,392.00 €
Provision for disbursements		400.00 €
Gestoría Fees (estimate)		300.00 €
Mortgage: Loan 95.800 Euros
Mortgage stamp duty (est 2%)		1,916.00 €
Mortgage notary fees (est.)		700.00 €
Mortgage land registry fees (est.)		400.00 €
Mort. legal fees	(0.5% & VAT)	555.64 €
Bancaja opening commission (1.5%)		1,437.00 €
Mortgage insurance		500.00 €
TOTAL CONVEYANCE & MORTGAGE		156,444.65 €

The 1.5% is what we, here in the UK, would call an arrangement fee

Peter

Hi Peter

Surely they should have informed me of this charge on the mortgage offer this is the first time I have heard of it.......

Jax

Hi Jackie,

It's interesting that you have listed these fees for Bancaja as one of our mortgages is with them and I am still waiting for them to let me have a breakdown of the fees.  I have been requesting the breakdown for the last couple of weeks - we were supposed to complete on 3rd June whilst we were in Spain and I was hoping they would be able to give me the breakdown then but the completion had to be cancelled as the Habitation Certificate wasn't ready.  

When we first applied to Bancaja we were told the charges would be around 3900 euros - thought that was expensive enough but just before we left for Spain - in fact just two working days before completion when we finally got the mortgage confirmed by them - they told me the charges would be 4900 euros!!!  Requested a breakdown again this week but still not got the details.  

I have told them we will not take the Bank's insurance - at 500 euros it is extortionate!  No wonder they don't want to confirm the breakdown if they are ripping us off with an arrangement fee like that.

Who have you been dealing with and could you let me have the contact details - we were referred through Parador and have been dealing with Sue Moody - but I am not impressed.  I would really like to get the issue over the fees sorted out before our solicitor completes on our behalf on Wednesday next week.  

As Shampers said, we only have to pay it once but 1000 euros more than we were quoted is rather excessive!  Perhaps it's a word of warning to others to avoid Bancaja!  We have found CAM Bank much better to deal with.

Debbie

Hi Debbie

Have they accepted that you are not taking their insurance or are they using that old chestnut "it's a condition of the mortgage"!!
My Solicitor has been doing the negotiations on my behalf with the bank but the contact name I have been given is Esther Aguilar.
How come they always send anything controversial on Friday afternoon so you can't do anything until Monday but I will be having a tant about these fees as I wasn't told about them......

Jackie

Thanks for that Jackie.  In our case they only told us about the fees being 4900 euros two working days before completion when I was already in a mad panic anyway!  To be honest by that stage I was just glad to have the mortgage confirmed.  They haven't yet confirmed that we don't have to take their insurance but I intend to argue it with them - although we are running out of time now.  

Will let you know how I get on but am not very hopeful that I'll get very far.  I certainly wouldn't recommend anyone to use Bancaja - we have used CAM Bank for the mortgage on our other apartment and they are much easier to deal with.  

Debbie

Hi Debbie

I have had a reply back from my mortgage broker in relation to the insurance costs of 500 euros, aparently they take 500 euros for the insurance in the first year as they don't know how much the insurance will cost until the property is valued.  They haven't been allowed access to the property to value it as yet as Polaris are saying it isn't ready!!  Once they know the value of the property and therefore know the cost of the insurance they then refund the difference to you.   Mmmmm I think I feel a little bit better but I am not too sure !!!!!!  My completion date is 1 st July but if the property is not even ready to be valued I won't hold my breath that it takes place on the 1st......

Jackie

Yes it does all seem very strange!  They have valued our property which is definitely finished and have still quoted 500 euros for the insurance!  I think they just fob people off with any excuse they can think of!

I am awaiting a response to an e-mail I sent to Sue Moody at Bancaja and will let you know when I hear anything.  I notice from your last post that you are using a mortgage broker - could it be them that is charging the 1.5% commission/set up fee?  It will be interesting to see what figures Bancaja give me in the breakdown as we have gone directly to them rather than through a mortgage broker.

 

No its definately the bank thats charging it I have had it from my solicitor and he was sent it by the bank......

Jackie

Hi All,

Anyone out there bank with CAM?

Need to transfer over the final payment ( >50K Euros ) has anyone else done this?  Was there a charge made by CAM?
Has anyone completed with a Bankers Draft from CAM?  if so what was the cost of getting the draft?

Thanks

Phil

Phil,

We transferred our funds about 2 weeks ago into our CAM account and as far as I know we haven't been charged for it by CAM.  They have charged us 2.50eur for "account maintenance" though - whatever that is!

We completed yesterday and CAM had confirmed several weeks prior that they would have a representative at the completion to handle bank drafts for us.  They made no mention of a charge for this.  I e-mailed them just before completion to check again if there would be any charges for the drafts but no response!  I haven't had time to call them which seems the only way to get a response at the moment.

If I hear any more I'll post it on this thread.

Tim

Thanks Tim,

CAM are coming to the completion!  I assumed they would just hand you a draft at the bank.

Which leads to the next question,  can you get the draft from any branch or does it have to be the one where the account is held.

Tim.  we too have just been charged a 'maintenance fee' but we paid 7.5euros?

 

Phil

Sorry Phil, should have said we didn't go to the completion - did it by POA.  I don't know if that makes any difference.  I'm afraid I don't know either if you can get the draft from any branch.  I can only suggest calling them to be sure.

You must have more cash than us if they are charging you a higher maintenance fee!!!!!   Any idea how they calculate it?

Tim

Hi
I completed yesterday using a bankers draft from CAM. You can get it from any branch but you need to have your passport with you. Fee is 0.2%. I had some difficulty getting the draft as the original branch couldn't provide it when they said they would so had to go to the next town and they didn't speak any English but all ended up OK in the end. I was also charged the €2.50 and asked about this. It's the annual maintenance fee - normally €30. They review your account and if you have money sitting there and funds going in they sometimes reduce the €30 to a fee they decide!!! All sounded pretty weird to me but that was the explanation!
Gail

Hi all, 
      We got charged the 2.5 euro's as well, when i asked cam about the charge they just said that "maybe" it's a charge for the account and that there won't be any charges again after the mortgage has been activated. Confusing.
                                          Chris,

We have finally heard verbally from CAM about our mortgage. As is mentioned elewhere on the thread there seems to be no response at all to emails and when we tried to fax an enquiry the line was closed. Finally got through by telephone (but this is not always possible when at work- had to get pemission) I was then advised that Eva, who we had been dealing with and emailing, has left. So we wondered if that explained some of the lack of response. Two weeks ago we got through to Alfonso who told me then that Eva was 'elsewhere in the world' which I took to mean on holiday but now I think he was telling me she had left CAM!