View Full Version : Mortgage - Wealth Tax ?????

08-11-2005, 06:24 PM
I am resident in the UK but have a holiday home in Spain which I still have a mortgage on.
Do I still have to pay Wealth Tax although my house does not yet belong to me?
Many Thanks

Expert advisor
08-16-2005, 09:15 AM
The fact that there is a mortgage on your property does not mean that the property is not yours, which in fact it is. The only difference is that you have guaranteed the credit company (moneylender) the repayment of the mortgage with the property itself in case you do not pay the monthly repayments.

Being the owner of a Property in Spain, you are forced to pay the Non Resident Wealth Tax .

I hope this information meets your approval and we remain at your entire disposal to any matter you require.