ITP Property Transfer Tax - Going round in circles

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ITP Property Transfer Tax - Going round in circles


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Old 26th April 2016, 08:12 PM
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Default ITP Property Transfer Tax - Going round in circles

Evening...

I'm sure someone can answer this one for me. We are signing off on our house (with a mortgage) in three weeks.

I seem to be going round in circles with what clearly is a straightforward question.

When are is the ITP paid, how and by whom. When I say whom, I know me but is it directly by me or by the bank direct by frank draft or indeed by some other way.

Like I say, sorry if it's daft but I'm darn baffled by it!

On a side issue, the same with payments to Notary and Registry all of which quoted on the mortgage documents?

Thanks!

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Old 27th April 2016, 06:56 AM
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Originally Posted by piersuk View Post
Evening...

I'm sure someone can answer this one for me. We are signing off on our house (with a mortgage) in three weeks.

I seem to be going round in circles with what clearly is a straightforward question.

When are is the ITP paid, how and by whom. When I say whom, I know me but is it directly by me or by the bank direct by frank draft or indeed by some other way.

Like I say, sorry if it's daft but I'm darn baffled by it!

On a side issue, the same with payments to Notary and Registry all of which quoted on the mortgage documents?

Thanks!


When I purchased property in Spain, I was given a bill by the Notary when I signed the paperwork - as in, on the day of completion. These bills included ITP, Notary, land registry etc.

I'm not sure what your last statement is asking as there seem to be words missing but our mortgage papers did NOT mention land registry or Notary fees.
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Old 27th April 2016, 07:12 AM
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Originally Posted by snikpoh View Post
When I purchased property in Spain, I was given a bill by the Notary when I signed the paperwork - as in, on the day of completion. These bills included ITP, Notary, land registry etc.

I'm not sure what your last statement is asking as there seem to be words missing but our mortgage papers did NOT mention land registry or Notary fees.
Sorry, I did word it poorly.

Thanks for the information regarding the bill on signing, did you (do you) pay that immediately, within a period of time or otherwise?

Just want to have the right money in the right place.

The mortgage papers I refer tour those supplied by the advisory papers supplied at point of application by the bank.

Thanks

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Old 27th April 2016, 08:10 AM
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I didn't buy from a bank. My lawyer asked me to lodge a sum amounting to 10% of the purchase price with her, which was to cover the ITP, notary fees, and her own legal fees. There was approximatley 800 left over after completion which was refunded to my account very promptly.

A form showing that the ITP has been paid will be attached to the escritura when it is issued by the notary

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Old 27th April 2016, 11:16 PM
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We gave four bankers drafts to our solicitor, agency fees, the ITP, the solicitors fee and the notary fees.

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Old 2nd May 2016, 05:01 PM
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We gave four bankers drafts to our solicitor, agency fees, the ITP, the solicitors fee and the notary fees.
Thanks for that, think I've got this now. Appreciate everyones help.

Pedro

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