Thursday, October 19, 2006

The mortgage game in Spain

Getting a mortgage in Spain is no easy task!

Somehow most of the banks here seem almost unwilling to lend you money, even if you have a house or apartment in Spain already.

I guess one of the reasons is that there is just not enough competition. They are very unflexible when it comes to borrowing money, even though you would think that bricks and mortar would be a very safe investment for them.

Our bank in Marbella just drives me nuts. Never pick up the phone or answer email which means that everytime you want something sorted you have to drive all the way down there and turn up in person. Only to find out that the person you need to see is on holiday...

Im going to turn to one of those mortgage companies soon! Must be an easier way of lending money on the Costa del Sol.


Anonymous Anonymous said...

Have you tried talking to Scottish Widows? They were very keen to lend me money at a good rate up to 70 per cent LTV. Both euro and sterling options.


12:57 am  

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