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Redemption charge

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  • Redemption charge

    I am selling my 4 year old property, and planning to purchase another property a few miles away.

    as a non resident, will i still have to pay the 3% redemption charge or will that be waived seeing as i will be reinvesting the money into another property.

    If i take a deffered mortgage to purchase my new property until i sell my existing property, will that also affect my redemption charges?

    Thanks
    Phil

  • #2
    Being non-resident in Spain you are bound to pay the 3% as part payment of the Capital Gains Tax even when you are reinvesting the money into another property.
    Furthermore, the obtaining of a mortgage to finance the purchase of the new property will not affect the payment of taxes related to the sale of your property.

    For further information, please contact us.

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