SPAIN
FLORIDA
TURKEY
Property: Two-bedroom townhouse
Location: Valle de Alenda development, 15 minutes from Alicante airport
Amenities: Air-con, furnished kitchen, private garden, communal swimming pool
Purchase price €173,500 (£142,200)
One-off purchase costs (with a mortgage):
Deposit (30% of purchase price) €52,050 (£42,700)
Mortgage arrangement fees €4,800 (£3,930)
VAT (IVA – 7% of purchase price) €12,145 (£9,950)
AJD (Stamp duty – 1% of purchase price)
€1,735 (£1,420)
Legal fees (1% of purchase price) €1,735 (£1,420)
Notary fees €867.50 (£711)
Land registry €520.50 (£427)
Total purchase costs €73,853 (£60,558)
Typical mortgage option: Capital and interest repayment mortgage of 70% LTV (€121,450 / £99,500) with an interest rate of 2.19% and a 30-year term.
Monthly mortgage repayment €460.53 (£377)
Property: Four-bedroom villa
Location: Orlando, 20-minute drive from the Disney theme parks
Amenities: Living room, kitchen, dining area, and patio area overlooking the pool and spa
Purchase price $170,000 (£108,970)
One-off purchase costs (with a mortgage):
Deposit (30% of purchase price) $51,000 (£32,690)
Closing costs (5% of purchase price) $8,500 (£5,449)
Legal fees (1% of purchase price) $1,700 (£1,090)
Total purchase costs $61,200 (£39,229)
Typical mortgage option: Capital and interest repayment mortgage of 70% LTV ($119,000 / £76,280) with an interest rate of 6.25% and a 30-year term.
Monthly mortgage repayment $732.70 (£470)
Property: Four-bedroom villa
Location: A small development near Fethiye
Amenities: Three bathrooms, a newly fitted kitchen, off-road parking and communal pool
Purchase price £105,000
One-off purchase costs (with a mortgage):
Deposit (30% of purchase price) £31,500
Mortgage arrangement fees £1,220
Buying costs (Stamp duty, notary fees, land registry, military clearance, legal fees) £10,500
Total purchase costs £43,220
Typical mortgage option: Capital and interest repayment mortgage of 70% LTV (£73,500) with an interest rate of 4.05% and a 20-year term.
Monthly mortgage repayment £452.69
The above are illustrations only. Prices indicated may have changed since publication and the information supplied is only a general guide. Always seek professional advice before buying abroad.
Exchange rates used: £1=€1.22; £1=$1.56
AIPP CONSUMER GUIDE 19
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