Category Archives: Mortgage services

When buying in Spain having a financial mortgage approval will greatly enhance your ability to negotiate on price and ensure you know your exact maximum budget, the costs you must consider and ongoing monthly commitment your purchase will entail. Most buyers will incur costs of flying to Spain and accommodation whilst there when searching for […]

Obtaining information about Spanish Mortgages before making a commitment has in the past meant researching across a number of web pages, information sites and banks. Often each provider of information was unable to give a full overview of all the considerations that a potential buyer should consider. To help buyers understand fully in a one […]

August saw the first; all be it small; Euribor ( European Interbank offered rates) rise for 12 months. The level of Euribor rates which has been at a historical low for many months is predicted to rise by about 1% over the next year. It was unrealistic to believe the rates could remain as low […]

Ahead of its UK counterparts from October the 1st the two banking arms in Spain Lloyds and Halifax will come together as one. From October 25th all Halifax branches will be re-branded to Lloyds. At present there still remains a few differences between the two in lending criteria. Lloyds minimum loan size is € 100k […]

Mortgage product improvements in Spain Having almost removed themselves entirely from the non resident market by lowering loan to values to 50% and increasing rates two years ago one Spanish Bank has recently changed its Spanish Mortgage product portfolio to attract new business. By far the best of their new products is 5-year fix at […]

Many Expats working places like the Middle East of Africa see Spain as an ideal half way house for vacations and a final place to settle when current contracts or early retirement beckons.

The last few weeks have seen mixed messages coming out of Spain and the Spanish Mortgage market. Bancaja who reduced loan to values to 60% at end of last year and removed interest only have in recent days said that they can consider on a case-by-case basis up to 65% loan to value for non-resident […]

Back a few years ago it was common practice for buyers in Spain to pay to sellers an element of the transaction in cash and declare the value of the property at completion at a lower amount than actual purchase price. Clearly, this activity was illegal and an avoidance of transfer tax on behalf of buyer and […]

  Banks in Spain become estate agents More and more banks in Spain are offering discounts to current valuation on properties they own or are in the process of repossessing. Bank stock now provides probably the widest and most cost effectively priced property you can find and can allow for higher loan to value Spanish […]

For many years the banks in Spain have worked off affordability ratios rather than multipliers of gross incomes. The FSA in the UK who are looking at changes to be implemented this year after the credit crisis of 2008 and 2009 are looking like they will insist in future lenders in UK work on affordability […]