Category Archives: Mortgage services

Mortgages in Spain linked to purchase price After years of selling Spanish properties and advising clients to under declare purchase prices (to avoid the full buying taxes but without informing client of capital gains tax exposure at a later date) some Spanish estate agents have done the complete reverse and are now convincing buyers and sellers […]

In an effort to try and offload some of the property stock that many Spanish Banks now hold on their books due to developers going bust; a number of banks are looking at discounting heavily the properties and providing virtually no cash in deals to the right clients. Amongst the banks considering this are Sol […]

Unlike Spanish mortgage advice, which is unregulated and could be given to clients by someone with no experience or knowledge, the repossession process in Spain is highly regulated. The Spanish Repossession Process The repossession process in Spain is very different to that of the UK. The rules applied by the Bank of Spain on banks […]

The latest rumours coming out of Spain suggest Caxia Catalunya may be experiencing problems. Heavily involved in development funding Caxia Catalunya hope not to follow Caja Castilla La Mancha who have had the Bank of Spain step in to run and restructure it. Caja Castilla La Mancha like Caxia Catalunya was a large regional bank […]

Buying activity appears to be increasing, as property bargains become a real reality in Spain. Apartments previously marketed at knocking € 200k can now be picked up regularly for € 100k  making the dream of having a Spanish holiday home more achievable even in today’s troubled times. The 12 Month Euribor, which most banks use […]

Whilst the banks in Spain’s treasury and investment arms were not actively involved in the sub-prime market, they have not managed to stay completely without issues. Falling pound and high interest rates which many people are still tied into until their next annual review has meant the delinquency rate on their existing mortgage books has […]

Spanish Mortgage Product Last week saw another two Banks lower loan to values for non residents and tighten risk criteria’s. Nat West Gibraltar having already lowered loan to values last year from 70% to 60% moved to a maximum of 50% and withdrew its two year discount product. Bankinter who have previously been very active […]

Sales of property in Spain are exceptionally low at present. The upside of this market is that for those fortunate enough to still be able to contemplate buying a second home deals can be struck and bargains secured. The whole process of buying from selling agents and developers through to the legal advice you can […]