I need to arrange a Spanish Mortgage

iwannamotorbike

Hi

Anyone done this recently? Can it be arranged in this country?

What's the simplest and most cost effective way?

Will I need a Spanish will if I buy property in Spain?

Can I arrange that in this country?

Thanks


Allan

Pink.

Hi iwannamotorbike,

As you haven't had any replies on the I wanna board I'll move your thread over to the House Buying, Renting, Selling & Property Prices board to see if you can get some help there.

Pink

Scaredy_Cat_3

Hi

I know nothing about this subject (sorry!), but I used to work for Abbey/Banco Santander and I THINK they offer mortgages for Spanish properties. Worth an enquiry, I think.

Good luck!

kenshaz

try this website www.bancoandalucia.es/eng

I have directed you to the site in English and it has a free phone number to English speaking operators.Before you can obtain a Spanish mortgage you will need to open a bank account in Spain.

brainiac44

simply go to barclays and ask them. they have a range of specific packages for this kind of deal. if your earnings and savings are in sterling its better to get a uk mortgage deal and purchase in spain with the funds from that. they will help you manage this operation without too much fuss.

Madmel

My sister has one with Halifax. They have a product specifically for UK people buying in Spain, and I know she deals with a UK/English speaking callcentre.

Ian_W

As do LTSB, Norwich & Peterborough, RBS - to name but a few more. Many UK lenders have in recent years started to lend on properties in established overseas markets like Spain/Portugal.
The general rule of thumb when we bought several years ago was if the earnings you'll be using for the payments are in Sterling use a UK or UK offshore lender as you don't have currency fluctuations with your repayments. If they're in €uro, for example from a letting contract, use a Spanish lender.
In any case you will probably, almost certainly, need a Spanish Bank account as Kenshaz says, for utilities and local tax payments. It's often the first thing a Spanish EA will help you arrange if you make an offer on a property.

MortgageMamma

I use a company called Conti financial services ltd

Why use Conti Financial Services Ltd?

Over 12 years experience of conducting business overseas

No cross selling of any other financial products

Loans available in over 40 countries

Over 225 mortgage packages available

Fully independent with more lenders and more choice

Competitive and exclusive lending terms

Introductory commission paid for all successful loans on completion

Free pre-qualification of client's application

In-house processing and underwriting by specialist teams, dedicated to each country, who know the exact requirements for each lender

Use of Conti's extensive database of professionals; lawyers, surveyors, currency exchange and offshore company formation experts.

iwannamotorbike

Hi

Thanks to all the posters. Plenty to go at there, that should keep me busy.

Will I need a Spanish will if I buy property in Spain?

Can I arrange that in this country?


Allan

MortgageMamma

First of all, get yourself some independent financial advice from someone who specialises in overseas mortgages, they will be able to advise you on someone who can do your will

alba37

iwannamotorbike wrote:

Hi

Thanks to all the posters. Plenty to go at there, that should keep me busy.

Will I need a Spanish will if I buy property in Spain?

Can I arrange that in this country?


Allan

It's not mandetory, (well wasn't in the past) but much better to have one. (no matter how old you are) Saves complications if something were to happen. I would expect it would be cheaper doing it there. Where are you buying?