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Spanish Property Finance - Your Questions Answered.
There are a number of ways financing your Spanish Property can be achieved. www.Spanish-Property.ws explains some options.
(PRWEB) April 13, 2005 -- Lots of people come to www.spanish-property.ws asking the best way to finance their dream home in Spain. Well, as with most money matters one size does not fit all. There are a number of ways in which the purchase of a property in Spain can be funded. We have a great deal of experience in helping our clients find the right deal for them.
Equity Release:
Due to the rise of property prices in the U.K more and more people are choosing to fund their spanish property through an equity release loan. Low interest rates make this a very affordable option indeed.
Typical interest only rates are as low as 4.59 per 1000 borrowed.
e.g.
Amount Raised Cost Per Month
50,000 229.16
60,000 275.00
75,000 343.75
100,000 458.32
Spain the Easy Way (www.spanish-property.ws) can offer you:
o Up to 90% equity- no proof of earnings required.
o No penalties.
o Can arrange a mortgage either before or during an inspection tour - Please call for details.
o Funds usually available in 4-6 weeks.
Many people who have purchased holiday homes use the services of a Spanish letting agent to rent out their homes when they are not using them. This can provide an excellent source of income which can be used to pay off your mortgage. Spanish Property.ws have golf properties on their list too. These are a favourable buy to let, as often they can rent out nearly the whole year round. Spain the Easy Way can also advise on qualified Spanish Letting Agents.
Spanish Mortgage:
Spanish mortgages are currently a very popular option due to the low interest rate of the Central European Bank.
o Up to 50% can be arranged for non- residents (+costs of 11%)
o If required during the inspection visit Spain the Easy Way can accompany you to the bank and assist you in arranging a mortgage.
o proof of income require (last three payslips and most recent P60.)
o Mortgage is arranged on the final stage payment for your property.
E.g.-Approximate cost of Capital and Interest repayment mortgage based on 3.9%.
Amount Term Monthly Cost
30,000 15 years €503.85 p.m
50,000 10 years €365.35 p.m
Your Own Savings:
You may wish to use your own savings and transfer capital to Spain to purchase a property. If so if it is vital that you get a good currency exchange deal to maximise the amount of euros your pound will buy.
Spain the Easy Way can introduce you to Global Currency Exchange, a U.K company who specialise in buying currency for their clients at commercial rates and transfering it around the world safely and cost efficiently.
Their service includes:
o No commission.
o Commercial exchange rates (benefit from bulk buying)
o Low transfer charges.
o Guranteed exchange rates.
o Courteous efficient and very effective service.
www.spanish-property.ws was created by www.lazymagic.com as a guide for English buyers looking to buy a holiday or retirement home in Spain. They provide information on places to buy, styles of home available and the buying process in Spain. They promise a personal service with access to real people" to answer questions and guide you through the whole process.*All data supplied by Spain the Easy Way.com and correct at time of release. www.spanish-property.ws would like to advise customers that the value of property can go down as well as up. Please consult your financial advisor if in doubt.
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