Buy to let may be on the decline in the U.K but could it be the way to go to get a new home in Spain? I think it just might be!
A product of the recession here in Spain is a reduction in interest rates and therefore repaymenst on mortgages. The mortgage rate is around 2% way down on the earlier rate which was upto 6% this means the average mortgage is now around €500 a month cheaper and although this has slowed the number of repossesions there are still bargains to be had both repossesions and people who want to sell for all manor of reasons.
The banks are cautious to lend but subject to fullfilling the criteria mortgages are available and at good fixed rates to tie in the value of the low interest rates.So where do I find an ideal property I hear you ask? Well there is no doubt there are far fewer agents than there once was but each area will still have some and just the fact they have survived should indicate that they are a good business. There are also many agents who specialize in sourcing property and there are the banks themselves.
Spain is still a beautiful country to live in both for a lifestyle choice and for the weather which will always attract those from colder climes.
A product of the recession here in Spain is a reduction in interest rates and therefore repaymenst on mortgages. The mortgage rate is around 2% way down on the earlier rate which was upto 6% this means the average mortgage is now around €500 a month cheaper and although this has slowed the number of repossesions there are still bargains to be had both repossesions and people who want to sell for all manor of reasons.
The banks are cautious to lend but subject to fullfilling the criteria mortgages are available and at good fixed rates to tie in the value of the low interest rates.So where do I find an ideal property I hear you ask? Well there is no doubt there are far fewer agents than there once was but each area will still have some and just the fact they have survived should indicate that they are a good business. There are also many agents who specialize in sourcing property and there are the banks themselves.
Spain is still a beautiful country to live in both for a lifestyle choice and for the weather which will always attract those from colder climes.
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