Category Archives: Mortgage services

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 […]

Mortgages in Maroc and Cabo Verde International mortgage solutions announced today they are finally raising the white flag and surrendering on mortgages for people buying in Morocco and Cape Verde. Why are IMS pulling out of arranging mortgages in Cape Verde Cape Verde banks are volatile, unreliable and have no set criteria’s. What you are […]

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 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 […]

A number of clients who currently hold CAM bank mortgages and are in arrears have recently received letters in the UK from a lawyer firm telling clients that should they fail to bring the mortgage up to date it is possible CAM Bank may pursue assets in the UK. Whilst clearly the bank has the […]

Increasingly all banks in Spain have been adding compulsory and for them profitable products to their mortgage offers. It is in fact not legal in Spain for the banks to tie clients into products outside buildings insurance and a bank account unless the client gains a rate benefit for doing so. This seems to however […]

Over the last few months the Lloyds Spanish group including Banco Halifax Hispania Lloyds TSB es Lloyds international have as part of their integration planning been discussing bringing their Spanish Mortgage criteria’s into line with each other so that whichever arm of the group a client accesses the terms and risk assessment are the same. […]

Whilst many bargains exist in Spain low exchange rates are negating some of these benefits. Many cash buyers are torn between accessing property at low purchase prices versus the real cost given current Sterling to Euro rates. Whilst setting up a Spanish euro mortgage to overcome this is one solution many buyers are put off […]