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Buying off-plan with a Bank Guarantee in Tenerife

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Something that came up recently with a client of ours who we were arranging a Spanish Mortgage for: Upon checking the documentation on the off-plan property there was a discrepancy in the price. the price on the purchase copntract was €4,000 higher than the price the property had originally been advertised for. I asked my… Read More

Buy direct from the owner? Great idea or not so clever?

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Buying direct from the owner is one way many purchasers choose to buy property in Tenerife. There are a number of advantages: You speak directly to the owner, not through an intermediary You can arrange your own visits to suit your schedule – not the estate agents The price is usually lower – in some… Read More

Estate Agents Commission – are YOU paying too much???

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Estate agents in Tenerife are commission based, most people are aware of this. What may come as a shock though is that this commission is not fixed at any level and there is no-one imposing a maximum amount. The way it works is like this: A seller approaches an agent and asks them to market… Read More

Mortgages in Tenerife – reduce your payments by half

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Mortgage rates in Tenerife look set to drop following the recently announced ECB (European Central Bank) rate cuts on 4th December. The ECB cut the base rate from 3.25% to 2.5% as a measure to lower inflation across the 15 countries that use the interest rate. It is the largest rate cut since the inception… Read More