18Nov

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 […]

13Nov

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 […]

13Nov
13Nov

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 […]

04Nov
04Nov

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 […]