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 […]
Spanish Banks Desperate To Sell Their Growing Property
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 […]
Mortgages in UK To Reflect Mortgages in Spain
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 […]
The Spanish Economy as Seen by the Little People
I am no high flying economist but recent days has seen much activity with the UK press about Spain and the Spanish Economy. Thank god someone is finally asking some questions It is interesting that, until recently, little has been done by the Spanish Press. Unlike UK press Spanish newspapers rarely go on crusades or […]
Low Rate Spanish Mortgages -Update
Further to my article on yen mortgages supplied by Dominion credit I have received 2 further communication inputs from clients who have applied for a mortgage via Low Rate Spanish Mortgages. Over the Christmas period Low Rate Spanish Mortgages pulled back their pay for click and paid for link activity but are back with a […]
3 International Mortgage Pitfalls You Must Be Wary Of
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 […]
Confusion Reigns Over Abbey National’s Spanish Mortgages
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 Go Bust!
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 Spanish Mortgages – Abbey National Buck The Trend On Spanish Lending
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.