Time is right to take out a mortgage on your ideal home in Spain

Time is right to take out a mortgage on your ideal home in Spain

Low interest rates, rising prices and signs that the economy is strengthening continue to attract property buyers to Spain. Property prices are still very attractive and with more mortgages being approved, all the signs indicate that now is a great time to buy in Spain.

Mortgage approvals rose 19.8 per cent last year, according to the National Statisics Institute and it is possible to borrow money with rates as low as 1.9 per cent for up to 70 per cent of the asking price.
For example, you could borrow €50,000 over 20 years at 2.5 per cent interest with monthly repayments of €264.95 or a €200,000 mortgage over 25 years at 1.9 per cent interest would cost €838.01 each month.

You could take out a mortgage to part-finance a brand-new, bespoke home in Spain. You can design and build a home which is perfect for your way of life.

If you are looking to move to Spain or want an investment with a high rental yield, please get in touch to find out more. 
Posted by: Nigel Salmon on Friday 3rd June 2016



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