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Crown Financial Solutions MORTGAGE AND COSTS ESTIMATOR Illustration prepared for MORTGAGE REPAYMENTS Just enter the appropriate figures in the 4 boxes below (in blue), and the program will do the rest! THIS SIMULATOR GIVES AN APPROXIMATE GUIDE TO THE COSTS OF BUYING IN SPAIN. THE INFORMATION IT PROVIDES DOES NOT FORM THE BASIS OF ANY CONTRACT, DIRECT OR IMPLIED. YOU MUST GET EXACT QUOTES FROM US AND YOUR LAWYER AT THE APPROPRIATE TIMES. Our current interest rates are: For loans up to: 70% of value 3.000% For loans between: 71 and 80% of value 3.000% For information: Please enter your purchase price (see note 1): 70% = 80% = 0 0 0 Please enter 1 if new, or 2 if resale: 1 Please enter the amount you wish to borrow (see note 1): MAX: 80% #DIV/0! 0 (see note 2) Please enter the term you wish to borrow over: MAX AGE: 70 0 The interest rate for this loan is: 3.000% Your monthly repayments will be (see note): #DIV/0! Note 1: The simulator works independently of currency: if the price & mortgage amounts entered are in euro, the repayment and costs below will be in euro; if the amounts entered are in sterling, the results will be in sterling. Note 2: 100% of the price - if off-plan and 80% of the end value is more than the price in the contract. ESTIMATED COSTS FOR OBTAINING THE MORTGAGE Application fee (charged to your current account on completion) 0 Estimated valuation fee (paid in advance) 200 Total payable to bank 200 Stamp Duty on the Mortgage (in most coastal provinces except Balearics & Catalunya = 1.8%) 0 Notary & Property Registry & Gestoria Fees for Registering the Mortgage (estimate only) 750 (Notary fees vary by province, are based on multiple sliding scales, and include a charge per page, so cannot be exactly estimated. This estimate is based on the rates in Málaga province and on a high scale, so should be more than the actual amount due. We hope that the figure quoted will be within €100 for amounts up to €500,000, and €200 up to €1m.) Total Government Taxes & Fees Payable 750 Crown arrangment fee 0 Total Costs for Obtaining the Mortgage 950 ESTIMATED COSTS FOR PURCHASING THE PROPERTY Stamp Duty if new property at 1.0% 0 VAT if new property at 7% 0 Transfer tax if resale at 7% (in some areas this is still at the old rate of 6%) 0 Notary, Property Registry & Gestoria Fees for Purchasing the Property (estimate only) 625 (Notary fees vary by province, are based on multiple sliding scales, and include a charge per page, so cannot be exactly estimated. This estimate is based on the rates in Málaga province and on a high scale, so should be more than the actual amount due. We hope that the figure quoted will be within €100 for amounts up to €500,000, and €200 up to €1m.) Total Costs for Purchasing the Property 625 OTHER PROBABLE COSTS Plus Valia Tax 0 (this cannot be estimated, so is here only as a reminder to check it with your lawyer - see buyers guide for details) Your lawyer's fee 0 (this is estimated here at the typical rate of 1% of the purchase price, but you need to obtain a quote for this) Total Probable Other Costs: 0 TOTALS TOTAL COSTS 1,575 (This total amount includes a 1% estimate for your lawyer's fee, and a notional amount for plus valia tax) AS % OF PURCHASE PRICE #DIV/0! TOTAL "PROVISION OF FUNDS" REQUIRED FOR THE MEETING AT THE NOTARY 1,375 (THIS IS THE APPROXIMATE AMOUNT THAT YOUR LAWYER WILL REQUIRE BEFORE COMPLETION - LESS THE TOTAL OF ANY PAYMENTS ALREADY MADE. NORMALLY THE AMOUNT TO PAY THE TOTAL COSTS SHOULD BE TRANSFERRED TO YOUR BANK ACCOUNT, AND THE NOTARY WILL THEN SEND THE BILL TO THE BANK FOR PAYMENT) Mortgage Estimator Monthly Repayments: Rate Monthly Term Term Amount Monthly If Rept is € Annual Rate (Years) (Months) Repayment Conv. To £ Cost 0.68 3.00% 0.0025 0 0 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0!
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