1. What kind of people do I need to hire?

One of the things you have to do is to gather enough money for a holding deposit. If the deal doesn’t push through it will be returned to you.

Then you need to get a real estate agent and a lawyer who’s fluent in English. A mortgage broker can also help you find good financing details.

There’s a lot of paperwork involved when the deal ha been closed. For example you need to sign the official document which transfers ownership of the title deeds and register the property in the land registry. To help you with the paperwork you need a notary public.

2. What’s the process for off plan properties?

With off-plan properties you usually exchange a private purchase contract within 30 days and then hand over your first installment, usually 15-30% of the purchase price. Your lawyer will advise you when further payments are due. On the day of completion, the balance of the purchase price is paid, and you (or more commonly, your lawyer) will sign the title deeds for the property, and the keys will be handed over. You should then allow 1-2 weeks before you can move in, in which time you can ask your lawyer to arrange for utility contracts with water and electricity companies.

3. What are the cheap properties?

Costa Blanca South offers the biggest range of properties to suit lower budgets with apartments from £60,000. Murcia is cheaper still, though the infrastructure is less developed than on the Costa Blanca. Costa Blanca North has a more mature property market and prices are higher. There are still relatively cheap houses and fincas to be found a short distance inland, as the overwhelming majority of foreign buyers still stick to the coast.

On the Costa del Sol, the average house price is £200,000 and you are unlikely to find much for less than £150,000. Villas start at around £500,000. Marbella is the most expensive place on the coast. Cheaper places can be found further east and especially once you head East of Malaga around Nerja and this region of Axarquia.

4. Can I get a mortgage?

You can get either a Euro or Sterling mortgage, though a Euro mortgage is advisable to avoid losing money as a result of exchange rate fluctuations.
• Spanish banks will usually lend up to 70% of the property value to non-residents.