Firstly if you are due to complete and worried then the answer is simple.Take out a mortgage for the balance and let the banks do the worrying.also make sure your kids are on the mortgage deed.if you cant get a mortgage due to age then put the house in the kids name-the reason-has anyone ever discussed spanish inheritance tax with you?if they havent -seek advice -NOW!you will be shocked.
im not an expert in the inheritance tax field so please ask dringman or someone else.however if you want spanish or uk mortgage advice feel free to contact me.what i do know is that you dont pay inheritance tax on the value of the property with the mortgage on-only the equity.so another reason for a mortgage-and with rates as low as 2.5% and set to stay low for the next few years imho then you can even borrow the money and invest it for a profit! not bad eh.so its win win -except the set up fee which is high unless you have a property over 240k in which case its possible to do a fee free remortgage.
please pm me if you want any further info.
This message was last edited by georgeh on 30/12/2009.