Understanding Real Estate Law in Spain: Expert Insights
In this exclusive interview, Mark from Fluent Finance Abroad sits down with Alex Radford, the founder of My Lawyer in Spain, to delve into the intricacies of the Spanish real estate market and the impact of Brexit on property transactions. With over two decades of experience as a bilingual lawyer, Alex sheds light on various aspects, from legal considerations to the evolving landscape of residency options post-Brexit.
Alex’s Background and Motivation:
Alex shares his personal journey, growing up in Spain, studying law in the UK, and eventually returning to establish My Lawyer in Spain. Motivated by a desire to bridge the gap between English-speaking clients and the Spanish legal system, Alex emphasizes the importance of being a cultural intermediary, fostering a team dedicated to clients, colleagues, and community.
Evolution of My Lawyer in Spain:
The discussion unfolds into the evolution of My Lawyer in Spain, detailing its expansion from two offices to a network of 15 offices covering various regions. Alex explains the strategic decision behind opening offices in response to client needs and the success of providing specialized legal services such as conveyancing, inheritance, and taxation.
Insights into Spanish Property Transactions:
Mark delves into the nuances of buying property in Spain, exploring differences from other jurisdictions. Alex provides valuable insights into the role of notaries, the significance of thorough contract review, and the unique challenges posed by unregulated agents. The conversation highlights the need for clarity in contractual terms and the differences in the legal systems between Spain and the UK.
Regulation of Spanish Lawyers:
Alex sheds light on the regulatory framework for Spanish lawyers, discussing the role of the College of Lawyers and acknowledging the need for stronger regulation. He emphasizes the importance of clients choosing lawyers registered with the College to ensure professionalism, accountability, and proper coverage.
Impact of Brexit on Spanish Property Market:
The conversation pivots to the post-Brexit scenario, exploring changes in residency requirements and the impact on property transactions. Alex outlines the challenges and restrictions non-Europeans, including Brits, face in terms of residency duration and the need for visas. He details the three main visa options – non-lucrative, Golden Visa, and digital nomad – and the complexities associated with each.
Navigating Spanish Mortgages:
Mark and Alex discuss the role of independent mortgage brokers and the advantages of seeking their expertise. Alex emphasizes the importance of clients obtaining the best mortgage deal through independent professionals, highlighting potential pitfalls in dealing directly with banks.
The Need for Regulation in the Spanish Real Estate Market:
Both experts weigh in on the necessity of regulating the Spanish real estate market, with Alex expressing support for standardized regulations across regions. The conversation emphasizes the importance of instilling best practices in real estate agents to protect both consumers and the Industry’s reputation.
Watch the video for further insights and contact the team at My Lawyer in Spain for valuable independent legal advice.
