Spanish Mortgages: A Review Of Lending December 2009

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 Can You Buy Distressed Property In Spain?

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 Change Their Credit Scoring System

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 […]


Low Rate Spanish Mortgages

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 […]


Halifax Announce Spanish Mortgage Interest Rate Changes

From 9th of November Banco Halifax Hispania will be increasing margins above the Euribor which they charge clients for Spanish mortgages. Halifax are now distinguishing not only between rates applied for interest only but also against loan size and whether 12 month or 1 month Euribor is selected. The pricing is somewhat complicated making decision […]


GMAC Spain Look To Close Down All Their Operations

GMAC who two years ago withdrew their self certified product from Spain are now writing to existing clients to try and reduce their Spanish mortgage book so they can remove their administration centre from Spain in its entirety. GMAC Spain are offering clients a reduction of 10% of the outstanding capital owed and to cover […]