{"id":742,"date":"2015-11-17T12:28:05","date_gmt":"2015-11-17T12:28:05","guid":{"rendered":"\/\/www.bonninsanso.com\/discoverymenorca\/?p=742"},"modified":"2015-11-17T12:29:09","modified_gmt":"2015-11-17T12:29:09","slug":"buying-a-home-in-menorca-for-a-foreigner","status":"publish","type":"post","link":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/","title":{"rendered":"Buying a home in Menorca for a foreigner"},"content":{"rendered":"<p>One in every two house purchases (50%), made in Menorca is by a non-resident in our country. This percentage that the Bonnin Sans\u00f3 group has recorded and which, more recently, has in fact gone above 50% (a little more than one in two purchases), leads us to talk today about <strong>mortgages for foreigners <\/strong>and to provide a list of always useful recommendations:<\/p>\n<p><strong>WHAT ARE THEY?<\/strong> They are a type of loan that the credit entities make to non-residents (foreigners or Spanish people whose tax residence is outside Spain) so that they can finance property purchases in this country.<\/p>\n<p><strong>NIE<\/strong>: Before starting any process, it is recommendable for the non-resident to obtain an NIE, the Foreigners Identification Number. It can be processed personally or through a representative of the Government Delegation office and\/or Foreigners Office. This document facilitates opening a bank account in any finance entity in this country.<\/p>\n<p><strong>FINANCING<\/strong>: the maximum finance that is usually offered by banks to buy a home is 70% of the purchase value or valuation, and the repayment time is usually a maximum of 30 years. As always, each entity may be prepared to skip this regulation according to the type of client or operation.<\/p>\n<p><a href=\"\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/home-167734_640.jpg\"><img loading=\"lazy\" class=\"aligncenter size-bd-normal wp-image-736\" src=\"\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/home-167734_640-640x330.jpg\" alt=\"Financing \" width=\"640\" height=\"330\" \/><\/a><\/p>\n<p><strong>DOCUMENTATION<\/strong>: To evaluate the awarding of a mortgage, the bank asks for specific economic documentation, which in the majority of cases, the bank itself will translate to avoid the costs of sworn translations.<\/p>\n<p><strong>COSTS TO TAKE INTO ACCOUNT<\/strong>: The costs and taxes that arise from a house sale are generally, Value Added Tax (VAT), or Capital Transfer Tax (CTT), depending on whether it is a new property or second-hand, Stamp Duty (IAJD) and finally, the notary, registry and bank fees. We are speaking of an approximate amount that may be between 12 and 14% of the total. These costs are the same for a resident as for a non-resident.<\/p>\n<p><strong>NOTARY AND REGISTRY<\/strong>: When the mortgage is awarded, the sale contract will be signed before a public notary and then the documentation sent to the Property Registry to record the operation. This type of procedure is usually done by the <em>gestor\u00eda <\/em>or legal agency, the equivalent of the high-street solicitor.<\/p>\n<p><a href=\"\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/notario.jpg\"><img loading=\"lazy\" class=\"aligncenter size-bd-normal wp-image-734\" src=\"\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/notario-660x330.jpg\" alt=\"notario\" width=\"660\" height=\"330\" \/><\/a><\/p>\n<p>Did you know that in <a href=\"\/\/www.bonninsanso.com\/discoverymenorca\/en\/bonnin-sanso-menorcas-leading-estate-agency-making-dreams-a-reality\/\">Menorca<\/a> the British are the people who buy most, more than 30%? They are followed by the French, with close on 15%, Italians, almost 10%, Germans, almost 7% and then other nationalities such as Swedish, Swiss and Belgians.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One in every two house purchases (50%), made in Menorca is by a non-resident in our country. This percentage that the Bonnin Sans\u00f3 group has recorded and which, more recently, has in fact gone above 50% (a little more than one in two purchases), leads [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32],"tags":[611,609,405],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buying a home in Menorca for a foreigner<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buying a home in Menorca for a foreigner\" \/>\n<meta property=\"og:description\" content=\"One in every two house purchases (50%), made in Menorca is by a non-resident in our country. This percentage that the Bonnin Sans\u00f3 group has recorded and which, more recently, has in fact gone above 50% (a little more than one in two purchases), leads [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog de Menorca de Bonnin Sanso\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-17T12:28:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-11-17T12:29:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/G0026736-1024x640.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bonnin Sans\u00f3\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/#website\",\"url\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/\",\"name\":\"Blog de Menorca de Bonnin Sanso\",\"description\":\"Informaci\\u00f3n sobre playas, zonas, rutas, tiendas y planes que hacer en Menorca.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"es\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#primaryimage\",\"inLanguage\":\"es\",\"url\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/G0026736.jpg\",\"contentUrl\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/G0026736.jpg\",\"width\":3000,\"height\":1874,\"caption\":\"Property in Menorca\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#webpage\",\"url\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/\",\"name\":\"Buying a home in Menorca for a foreigner\",\"isPartOf\":{\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#primaryimage\"},\"datePublished\":\"2015-11-17T12:28:05+00:00\",\"dateModified\":\"2015-11-17T12:29:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/#\/schema\/person\/86d5c633ce3acf13ffeaecde4ff5615f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Buying a home in Menorca for a foreigner\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/#\/schema\/person\/86d5c633ce3acf13ffeaecde4ff5615f\",\"name\":\"Bonnin Sans\\u00f3\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.bonninsanso.com\/discoverymenorca\/#personlogo\",\"inLanguage\":\"es\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/46355795ed22261561d4a50f8da7577a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/46355795ed22261561d4a50f8da7577a?s=96&d=mm&r=g\",\"caption\":\"Bonnin Sans\\u00f3\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Buying a home in Menorca for a foreigner","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/","og_locale":"es_ES","og_type":"article","og_title":"Buying a home in Menorca for a foreigner","og_description":"One in every two house purchases (50%), made in Menorca is by a non-resident in our country. This percentage that the Bonnin Sans\u00f3 group has recorded and which, more recently, has in fact gone above 50% (a little more than one in two purchases), leads [&hellip;]","og_url":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/","og_site_name":"Blog de Menorca de Bonnin Sanso","article_published_time":"2015-11-17T12:28:05+00:00","article_modified_time":"2015-11-17T12:29:09+00:00","og_image":[{"width":1024,"height":640,"url":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/G0026736-1024x640.jpg","type":"image\/jpeg"}],"twitter_card":"summary","twitter_misc":{"Escrito por":"Bonnin Sans\u00f3","Tiempo de lectura":"2 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/#website","url":"https:\/\/www.bonninsanso.com\/discoverymenorca\/","name":"Blog de Menorca de Bonnin Sanso","description":"Informaci\u00f3n sobre playas, zonas, rutas, tiendas y planes que hacer en Menorca.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bonninsanso.com\/discoverymenorca\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"es"},{"@type":"ImageObject","@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#primaryimage","inLanguage":"es","url":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/G0026736.jpg","contentUrl":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-content\/uploads\/2015\/11\/G0026736.jpg","width":3000,"height":1874,"caption":"Property in Menorca"},{"@type":"WebPage","@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#webpage","url":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/","name":"Buying a home in Menorca for a foreigner","isPartOf":{"@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#primaryimage"},"datePublished":"2015-11-17T12:28:05+00:00","dateModified":"2015-11-17T12:29:09+00:00","author":{"@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/#\/schema\/person\/86d5c633ce3acf13ffeaecde4ff5615f"},"breadcrumb":{"@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/buying-a-home-in-menorca-for-a-foreigner\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/www.bonninsanso.com\/discoverymenorca\/"},{"@type":"ListItem","position":2,"name":"Buying a home in Menorca for a foreigner"}]},{"@type":"Person","@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/#\/schema\/person\/86d5c633ce3acf13ffeaecde4ff5615f","name":"Bonnin Sans\u00f3","image":{"@type":"ImageObject","@id":"https:\/\/www.bonninsanso.com\/discoverymenorca\/#personlogo","inLanguage":"es","url":"https:\/\/secure.gravatar.com\/avatar\/46355795ed22261561d4a50f8da7577a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/46355795ed22261561d4a50f8da7577a?s=96&d=mm&r=g","caption":"Bonnin Sans\u00f3"}}]}},"_links":{"self":[{"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/posts\/742"}],"collection":[{"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/comments?post=742"}],"version-history":[{"count":2,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/posts\/742\/revisions"}],"predecessor-version":[{"id":744,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/posts\/742\/revisions\/744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/media\/730"}],"wp:attachment":[{"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/media?parent=742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/categories?post=742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bonninsanso.com\/discoverymenorca\/wp-json\/wp\/v2\/tags?post=742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}