A mortgage for property in spain?
Discussion
Just trying my luck here ... can anyone on here recommend someone to talk to regarding getting a mortgage (any type normal/buy to let etc) on a property abroad....(spain)... my broker over here said he cant help and may have to do everything over there. can do 50% loan to value - and if possible may buy 2 apartments to let while the £ is strong....
The spanish banks will lend you with 50% to put down. Allow 12-15% of sale price for fees etc.
Banco sabadell are a good shout with English speaking advisors and will guide you through the process. I can put you in touch with some good agents and reputable also as I currently live in Spain.
Which areas were you thinking of?
Banco sabadell are a good shout with English speaking advisors and will guide you through the process. I can put you in touch with some good agents and reputable also as I currently live in Spain.
Which areas were you thinking of?
Excellent........ couple of issues ... it's for my father (72 years old) currently having a break from work but may go back full time.... he has a property owned outright 160k value ....and 2 buy to let properties here (interest only mortgages) bringing in about 800 per month profit....owns probably 35% in equity in each.
Has enough in stock/ savings etc to buy outright (looking at around 80-90 thousand euro mark) 2 bedroom properties to rent out - maybe in Cabo Roig area. - I would prefer for him to mortgage one or two properties if possible rather than have all the money tied up in one.
Has enough in stock/ savings etc to buy outright (looking at around 80-90 thousand euro mark) 2 bedroom properties to rent out - maybe in Cabo Roig area. - I would prefer for him to mortgage one or two properties if possible rather than have all the money tied up in one.
lambo666 said:
Excellent........ couple of issues ... it's for my father (72 years old) currently having a break from work but may go back full time.... he has a property owned outright 160k value ....and 2 buy to let properties here (interest only mortgages) bringing in about 800 per month profit....owns probably 35% in equity in each.
Has enough in stock/ savings etc to buy outright (looking at around 80-90 thousand euro mark) 2 bedroom properties to rent out - maybe in Cabo Roig area. - I would prefer for him to mortgage one or two properties if possible rather than have all the money tied up in one.
What income does he have,apart from rental income?Has enough in stock/ savings etc to buy outright (looking at around 80-90 thousand euro mark) 2 bedroom properties to rent out - maybe in Cabo Roig area. - I would prefer for him to mortgage one or two properties if possible rather than have all the money tied up in one.
ha ha .. debt..... only got the buy to let properties 2 years ago....hence "debt" anyway they are doing well..... as previously stated he has plenty of savings and can buy one property outright ...but would it not be better to borrow some money and buy 2 and have them both let out receiving more income...
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