Need mortgage for overseas property-asap

bunny_3

Hi, I am about to buy a property in Spain, need to borrow £100,000K, on a interest only or fixed whichever is the best. Can anyone give advice on best company to approach and any info on rates would be great.

I need to sort this out in the next day.

Many thanks for anyoner who can help.

rach29

Are you planning to rent the property out?

If not Natwest/RBS offer the Real Mortgage in either Euro or Sterling. You would probably need to consult one of their Premium Banking Managers.

Ian_W

If you need QUICK why don't you enquire with your own UK bank? I know LTSB, RBS, Abbey, HSBC etc now lend on Spanish property.

You could also try:
http://www.mortgagesabroad.co.uk/

http://www.mortgagesoverseas.com/country.asp?Country=141

No experience of using either but when I needed one a good few years ago the latter one seemed quite expensive fees wise but if you're in such a hurry they have been around a long while so should know their stuff. We ended up going direct to RBS [Gibraltar] - unless thinghs have changed they certainly don't do quick!!

Presume you don't have enough equity in your UK property to remortgage it? That would probably be the quickest option.

HTH & BoL.

Father_Karras

You can try a Spanish bank. Interest rates are half of those in the UK. There are English speaking staff in most branches near the major touristic areas. Also you can try the spanish division of the Halifax.

Good luck

Ian_W

Father Karras wrote: You can try a Spanish bank.

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
SPANISH ... BANK .... QUICK .... Not words that easily live togther, IMHO.

Still thanks for making me smile.

canny_yorkshireman_2

It is true even though the rates have risen in europe they are still a lot more favourable than the current british rates to give you an idea of the savings I would have had to pay another £200 per month for the same amount in england so it is worth considering seriously the down side is the language barrier and the time it takes to arrange as the above poster has mentioned are you time restricted if not raise 30% in the uk and the rest with a spanish bank
hth

moaner12

Cam Bank offer 3.25% and on 88,000 euros or appx £61500 it's £350 / 501 euros per month over 20yrs. 2% setting up fee. House insurance from them re Spanish property appx £169 (243euros)contents and buildings pa.

Their online banking blinds any I have ever used here in the UK.
English speakers.

Moaner12