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The mortgage industry is like a minefield that could blow up on you suddenly, even when you’ve planned everything and done all your research, which is why you must tread carefully when attempting to secure a mortgage to buy a home or other real estate. You need to choose your lender with care and also […]

Further to my article on Abbey Nationals ( now renamed Santander) Spanish offering from their mortgage centre in Bradford it would appear even the staff in the centre are confused about their offering.

Polaris World have announced they are seeking to go into receivership. How exactly this will affect those purchasers, whose properties have no yet been built is as yet unknown. Each phase was funded by a different bank the key banks being Bancaja CAM Caja Murcia Banco Popular Whilst all these banks will have provided Bank […]

Abbey National, who are soon to be renamed and re-branded Santander, are completely in reverse to all other Spanish lenders (who are tightening criterias, lowering loan to values and increasing margins) are offering 80% loan to values at 1.25% above Euribor for Spanish mortgages.

Further to my concerns on Spanish Banks now linking a mortgage approval to taking life insurance it has come to light that taking life insurance in Spain does nothing to assist with payment of any Inheritance Tax (IHT) bill that the death of a client may instigate in Spain.

Despite the current banking issues obtaining a mortgage for buying in Spain is still available. Lenders like Halifax, Lloyds with their UK roots remain committed to keeping a presence in Spain. Spanish banks are also still providing finance. The key change from a couple of years ago is the risk criteria’s are now rigidly followed; […]

When buying a distressed property in Spain you have a number of points at which you can try to secure the property. The first point is when the current owner is experiencing difficulties but before the bank starts any action (where a mortgage is involved). The owner may be willing to drop price significantly to […]

Bancaja the last remaining lender in Spain who as standard allowed a loan size for non-residents to be as high as 80% of purchase price if valuation fell within 70% have tweaked their scoring system so it rejects automatically any applications put to them on this basis. Only cases loaded at 70% of valuation and […]

Minimum loan level increase for re-mortgages in Spain This week on top of rate increases the Banco Halifax Hispania announced it will be increasing the minimum  loan level for its Switch and Save re-mortgage product in Spain to € 140.000 from its current € 100.000. As this product remains, the most cost effective route to […]

This week further to my comments on Low Rate Spanish Mortgages and Dominion Credit, I received a correspondence from a client who has had experience of dealing with them. It would appear my concerns about their Spanish Lending facilities have some validity and there remain many unanswered questions about these two companies. The comments from […]