Looking for a rental

Hi Everyone

We have received a letter today from Bancaja offering  "preferential" mortgage terms for the purchase of our apartment.

We had initially intended to sell the apartment we already own in La Manga to fund the purchase at Altea, but unfortunately this property still remains on the market. We have therefore been considering alternative financing options.

The letter from Bancaja states that there is a transfer tax of 2.880 euros payable by using another bank whilst using Bancaja there is no tax to pay. Does anyone know about what this transfer tax is?

We will probably raise money through a UK Bank anyway but I seem to remember we were told a the time of buying that if we did not take over the developers mortgage on the property there was an extra cost involved at the time of completion. I may have misinterpreted what was said at the time but does anyone know about this  and is it connected in any way with the transfer tax mentioned by Bancaja.?

kind regards

Nigel and Marian

Hi there,

we had the same letter but are in the dark over it at the moment.We are trying to get more info out of Ballester about the mortgage and completion but are not having much luck.Please let us know if you hear any more news and we will do the same.

Best wishes