The purchase of a home in 2026 remains a complex transaction in which tax, banking, contractual and planning issues all converge. Recent regulatory changes and the updating of the official reference value are leading to more inspections, more litigation and more collapsed transactions.
At Cubero Abogados, a law firm specialising in Property Law, we have prepared this updated guide so that buyers and sellers know exactly what they must take into account before signing.
1. Tax changes affecting the purchase of a home in 2026
The tax framework for residential property in 2026 keeps its overall structure, but includes adjustments that directly affect the final cost of the transaction. The three most relevant are:
Review of Property Transfer Tax (ITP) rates in several Autonomous Regions
The Property Transfer Tax (ITP) continues to be set at regional level and, in 2026, several Autonomous Communities have announced increases in the general rate applicable to resale residential properties.
This particularly affects areas with high property pressure such as Andalusia, the Balearic Islands, the Valencia Region and Catalonia.
In practice, this means that a home costing €250,000 may become several thousand euros more expensive purely because of this tax increase.
Adjustments to Stamp Duty (AJD) on mortgage transactions
The Stamp Duty on Notarial Acts (AJD), which is levied on the formalisation of the mortgage, also shows significant adjustments:
-Certain brackets for transactions involving subrogation and novation are increased.
-Existing tax reliefs for young buyers and specific groups are maintained, but with more restrictive conditions.
This particularly affects those who refinance or amend existing mortgages in order to purchase a new home.
Updating of the Cadastre reference value
The official reference value is updated again in 2026. This implies that:
-If the price stated in the deed is lower than the reference value, the Tax Authority (Hacienda) will assess ITP or AJD on the higher value.
-Checks and supplementary assessments increase.
-The buyer must plan the real cost of the transaction much more accurately.
Professional recommendation:
Before concluding the negotiation, check the reference value and verify whether it matches the valuation and the agreed price. This helps avoid penalties and later tax disputes.
2. The most common legal mistakes when signing a reservation/earnest money contract (arras) in 2026
The reservation/earnest money contract (“contrato de arras”) is the phase where most mistakes are made and where most transactions fall apart. In 2026 we see recurring problems such as:
Signing generic templates downloaded from the internet
These templates usually do not take into account:
-The actual land registry status of the property.
-Charges, community debts, pending works or easements.
-Realistic timelines for obtaining mortgage finance.
-Planning conditions or unregularised alterations and refurbishments.
An earnest money contract must be tailored to the specific case. If not, the buyer is left without effective legal protection at critical moments.
Not correctly identifying the type of arras
This continues to be one of the main sources of conflict:
-Confirmatory arras: they confirm the contract but do not allow either party to withdraw.
-Penal arras: they add financial penalties in the event of breach.
-Penitential arras: they allow withdrawal, but with a financial penalty.
Confusing these types can result in the loss of the sums paid or even an obligation to complete the purchase even if the bank does not grant the mortgage.
Unrealistic deadlines for financing or verifications
Very often the buyer accepts deadlines that the bank is simply unable to meet. The result: penalties, termination of the contract and loss of the amounts paid on account.
Not preparing banking documentation on the source of funds
Given the strict controls on money laundering, delays in justifying the origin of the funds may prevent completion of the purchase or block the process.
Conclusion:
Before paying any money, the contract should be reviewed by a specialist property lawyer. It is the stage with the highest financial risk for the buyer.
3. What to check in a purchase contract in 2026
The purchase contract must be analysed carefully, as it determines the obligations of both parties. In 2026 it is especially important to pay attention to:
Land registry status and existing charges
Previous mortgages, embargoes, easements, tax charges or registry entries may prevent the transfer or create liabilities for the buyer.
Consistency between the deed, the Cadastre and the physical reality
Discrepancies (built area, unregularised extensions, differences with the cadastre) can delay completion, block financing or lead to planning penalties.
Liability for hidden defects
It is essential to define clear clauses on possible defects, outdated installations, aluminosis, damp or structural problems.
A poorly drafted clause may leave the buyer without effective remedies.
Allocation of costs and taxes
Although the law lays down general rules, many developers or sellers try to shift certain costs onto the buyer.
Everything should be clearly set out in writing.
Financing conditions precedent
Without a clear condition precedent, the buyer may end up obliged to complete the purchase even if the mortgage is not granted. This is one of the most costly mistakes.
4. The new mortgage landscape in 2026 and its legal risks
The mortgage environment in 2026 is characterised by:
Predominance of mixed-rate mortgages
Banks are steering clients towards mixed products, with fixed and variable periods.
Problems arise when the clauses governing the transition between periods are ambiguous or may be detrimental depending on how the market evolves.
More complex fees and hidden tie-in products
Some lenders are introducing:
-Tiered early repayment fees.
-Obligations to take out linked products (insurance, credit cards, pension schemes).
-Penalties for failing to maintain certain conditions.
These practices must be reviewed very carefully.
Stricter solvency criteria
Banks are taking longer to assess applications and many transactions are delayed. This can conflict with deadlines agreed in earnest money contracts.
5. Problems with property valuations in 2026
The valuation remains decisive for the mortgage transaction and often causes difficulties:
Valuations below the agreed purchase price
If the valuation is lower than the agreed price, the bank reduces the amount of finance and the buyer must contribute more funds. If they cannot do so, they may lose the earnest money paid.
Unregularised alterations or extensions
Many properties have enclosed terraces, extensions or internal changes that do not appear in the Land Registry or Cadastre.
This lowers the valuation and may even prevent the mortgage from being approved.
Conditional valuations
Where the surveyor identifies substantial defects, the finance may be made conditional on prior remedial works, which delays or blocks the transaction.
Conflicts with the Cadastre reference value
The 2026 update increases the likelihood of discrepancies between the valuation, the deed price and the official reference value.
The purchase of a home in 2026 requires solid legal knowledge and a thorough review of every document. Tax changes, new mortgage conditions and adjustments to the Cadastre reference value turn any purchase into a process that must be handled with specialised legal advice.
At Cubero Abogados, we support both buyers and sellers at every stage: earnest money, valuation, contracts, financing, checks on charges and assistance at the notary.
