Docstoc

simulator

Document Sample
simulator Powered By Docstoc
					                                                          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!

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:11
posted:5/19/2012
language:English
pages:1
fanzhongqing fanzhongqing http://
About