The New Mortgage Law Comes into Force

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Jun 19

The new mortgage law is in force from June 17. The law obliges the Notary and the bank to explain the content of the mortgage contract days before the signature. On another hand, and with regards the mortgage set up costs, by law the payments would be as follows: – Notary fee. Is paid by the bank. – Gestoría fee: Is paid by the bank. – Stamp Duty tax .AJD: Is paid by the bank….

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Property sales in Portugal ‘have never been at this level’

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Mar 28

Statistics institute INE has released figures showing house sales in Portugal reached ‘a new maximum’ in 2018 “even with prices continuing to rise’. Exactly 178,691 transactions took place, representing the highest number since ‘records (of this type) began’ in 2009. The figures translate into an increase of 16.6% on sales for 2017 and 48% on sales for 2009. The value of transactions came to €24.1 billion, which translates into millions in taxation revenue. The ‘good…

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Update – No Deal Brexit – Driving in Spain

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Mar 22

The United Kingdom Government and the Government of Gibraltar have this morning sought further clarification from the Government of the Kingdom of Spain in respect of the continued use of existing driving licences by UK and Gibraltar motorists. This follows a degree of ambiguity in the substance and the recitals of the Spanish Royal Decree that was published earlier this month. The Spanish Government have confirmed the following: 1. Spain will continue to accept existing…

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Buyer-seller expectation gap widens to 22 per cent in Portugal

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Mar 18

The average price of property rocketed by 15.4 per cent in the space of a year in Portugal. But while real estate continues to result in relatively decent profits for sellers, new data also indicates that their expectations of the property’s worth and its actual selling price have widened further this past year. Expectations in Portugal are usually that a potential buyer of property will offer less than the price listed by the seller. A…

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Validity of the UK driving licences in Spain after Brexit

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Mar 11

Here is the section from the Spanish Royal Decree that covers UK Driving Licences, translated: Within section 4, the purpose of Article 22 is to find an adequate alternative for citizens residing in Spain and holders of a British driving licence, which is currently valid for driving in our country as it is a permit issued by a Member State of the European Union, but that will cease to be so with the withdrawal of…

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All new cars to have speed limiters fitted, rules European parliament

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Mar 07

Speeding kills, but even though speed limiting technology has existed for motor vehicles since the early 1900s national governments have never mandated their use. However, a new ruling by the European Parliament could result in the mandatory installation of Intelligent Speed Assistance (ISA) in all new cars within three years. Some cars – such as the new Ford Focus  – already feature this technology, but it can be easily turned off. The proposed new rules…

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Portugal government approves hard brexit protection measures

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Feb 27

The Portuguese government has taken a step further in the event of the UK’s increasingly likely departure from the European Union without a deal. The Council of Ministers has approved a raft of contingency measures which will now go to the parliament for approval. The measures include the protection of British citizens in Portugal, support for Portuguese companies and more funding for the Portuguese border and immigration office SEF. In addition to the creation of…

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EHIC no substitute for travel insurance

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Feb 14

In light of the hordes of skiers and snowboarders heading to the slopes this winter, comparison website GoCompare has conducted research with some worrying results: namely, that many UK-citizens do not fully understand what benefits a European Health Insurance Card (EHIC) can and cannot provide. Should they find themselves seriously ill or injured, they may be left with hefty medical costs as a result. GoCompare revealed that 59 per cent of UK consumers that have…

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Car registration in another EU country – Portugal

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Feb 05

Registration As an EU national moving to Portugal, you must register your car if you are the holder of the registration certificate, the owner of the vehicle, or a user of a vehicle you do not own (e.g. a family member). As an EU national moving to Portugal, you can use your vehicle here while it is still registered in your previous home country. You have 20 working days to register your car in Portugal,…

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New speed limits now in force in Spain

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Jan 29

As of 29 January, new maximum permitted speed limits came into force on certain roads in Spain. This is the first in a wave of reforms intended on reducing the number of injury and fatal incidents on the roads and is effective on some 7,000 kilometres of the secondary road network. This reform reduces the maximum permitted speed on some of the carriageways of the road network and fixes a maximum permitted speed of 90…

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