What are the bank and notary costs?

Bank and notary-related costs when buying a property with mortgage finance can generally be divided into two groups:

Bank costs, which include analysis and approval fees, property valuation, account maintenance, insurance (life and home) and any charges linked to credit intermediation.

Notary and registry costs, which include notarial fees and registration charges for the acquisition and the mortgage at the Land Registry, with some of these steps potentially handled through services such as Casa Pronta.

In practice, these costs are an additional outlay at the time of purchase and should be considered on top of the down payment and taxes.

For example, for the purchase of a EUR200,000 property, bank and notary costs may broadly fall in the EUR2,000 to EUR4,000 range, depending on the bank, the property and the terms agreed.