Category Archives: Mortgage services

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 […]

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 […]

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 […]

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 […]