Posted: Wed Feb 26, 2020 2:42pm
Hi Roy,
Bank insurance is generally more expensive than going direct to a general insurance company, such as Liberty Seguros, but depending on what the bank is charging for transfer of the purchase funds, it may be worth taking their insurance for the first year, then switch at your first renewal.
Alternatively, if the funds aren't in Spain yet, you could do what Peter suggests - transfer them direct to your abogado and let them arrange an electronic transfer for the day of completion. We did this with the 10% deposit when we bought our property, but had already transferred the balance of the purchase monies to our Spanish bank before completion - then Sabadell charged us Eu 100 for a Banker's draft covering the balance to take to the Notary's office. That was almost 4 years ago and I've heard they now charge a % of the purchase price for electronic transfers, so worth double-checking precisely how much the charge will be.
By the way, congratulations!
Kind regards,
Kim