Idealist.com reports one in three foreign home buyers in Spain finance their purchase in our country, and two in three pay in cash.
According to Engel & Völkers Finance Spain, the reason for this is that the mortgage offer is more competitive than what they can find in their home countries. The company explains that financial entities are tremendously active in their mortgage offers.
Yourspanishmortgage.co.uk works with UK brokers and Spanish lenders so it is possible to compare whether it makes sense to refinance UK properties to buy in Spain with cash. Or secure a Spanish mortgage.
Although there are indeed more “cash” operations in the high-end residential market than in the middle-income segment, clients with high purchasing power are the first interested in financing their purchase, maintaining their investments without becoming decapitalised and assuming the fiscal impact of undoing such investments.
If you are looking to secure a Spanish mortgage to buy in Barcelona, Madrid, or on islands such as Mallorca and Ibiza, private banks offer large mortgage loans.
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