Cheaper international mortgages may be found for Spanish property

Mon, 31 Oct 2011
Britons looking to relocate to Spain may find the value of the international mortgages they use to secure a property in the country is lower than they expect.

This is because Marc Da-Silva, freelance property journalist and founder of PropertyJournalist - a website that produces residential and commercial house market news and features - has suggested many agencies in the nation are eager to sell.

The industry figure observed this sentiment means British property seekers could easily locate a cheap Spanish home at present.

He stated: "Given the Spanish housing downturn, a lot of the vendors have become desperate in their need to sell, so there is plenty of room for negotiation."

Those in the market for an international mortgage may therefore find the Mediterranean nation a suitable option in their bid to invest in the foreign property market.

Mr Da-Silva's comments came after the latest Rightmove Overseas report revealed the most marked monthly increase in searches was recorded for Valencia.

The city witnessed an uptake of 113.94 per cent in such action since the end of the summer holiday season, the study showed.
 
Speak to us - free!
Free enquiry
Speak to an international mortgage specialist - free and easy.