Overseas property...

View information on...

Homes Go Fast

Free News Service

Subcribe to property news

Embed this content on your site

Subscribe in a reader

Property Sales Enquiry Line

For UK Residents call free on:

0800 043 00 96

For visitors out of the UK call:

+44 207 099 33 92

*property references are required

Overseas property news

We are dedicated to bringing the best and most up to date overseas property news to you daily, why not sign up for news alerts by email.

Homes Overseas Tip Slovakia For 2009

Brazil Plans New Wind Farms

Canadian Home Sales Continue to Slow

Sellers of overseas property cash in

UK Retail Sales Weigh on Pound

Overseas Property You Tube

Overseas Property

blogarama.com

Homes Go Fast

Spain Initiates Mortgage Fund

The government of Spain has approved the creation of a €30 billion fund to buy mortgage debt from banks in a bid to help stabilize the industry and keep credit flowing. The fund could be extended to €50 billion if necessary, according to the government.

Deputy Prime Minister Maria Teresa Fernandez de la Vega said that “This is a way to re-establish the normal functioning of our financial system, a decisive way to reactivate the economy and encourage the creation of jobs.”

According to the government, the fund will cost taxpayers zero because they will only purchase quality assets and not bad mortgages. Once the markets settle down, the government plans to resell the assets, said the Deputy Prime Minister. “Therefore, the state is going to recover all the money it will have injected into the system," Fernandez de la Vega said. "It is an investment, not an expenditure."

In addition to the money to help keep credit flowing, the Spanish government also approved an increase in the guarantee limit for bank deposits from €20,000 to €100,000. This increase is part of a broader European effort to shore up confidence in the banking industry across the continent.

Useful Resources

Spanish property blog

Property for sale in Spain

SpanishHomes4sale.co.uk

Overseas Property For Sale

Spain France Portugal Turkey Bulgaria Cyprus Italy United States Greece Malta Egypt Dubai Brazil Cape Verde Hungary Croatia Thailand Germany Poland Morocco