Costs of a mortgage

The hiring of a mortgage creates a series of added costs. They are, for example, the Property Registry, valuation, agency and the minutes of a notary.

In addition, there are some that need to pay taxes when a property is acquired:

·  Inheritance Tax (ITP) is applied to the second-hand properties and accounts for 6% or 7%, depending on the Autonomous Community. The Value Added Tax (VAT) applies to new buildings and up to 7%. Depending on whether the home is purchased new or used will be necessary to pay the VAT or ITP.

·  The tax documented legal (IAJD): varies according to the Autonomous Region in which the operation is performed.