Spanish mortgages until your 80 years of age

 

Overseas mortgage specialist USHE Overseas Ltd have announced a new Spanish mortgage that can run up to your 80th birthday making thousands of retired individuals now eligible for a mortgage in Spain. The non resident Spanish mortgage is a combination of interest only for the first 15 years reverting to repayment in the latter part of the mortgage making it more affordable in the early years of the mortgage.

 

 

Property in Spain continues to be the most sought after destination amongst overseas buyers from the UK this is despite the attractions of lower property prices offered by the emerging markets. Attractive mortgage options are set to keep Spanish property as the UK’s most desirable place to buy property abroad.

 

 

Anna Brewer director USHE Overseas Ltd “The lower cost of Spanish mortgages and the flexible terms offered by mortgages in Spain is a powerful combination to help those afford to buy a property in Spain. The days of mortgage brokers turning customers away owing to age restrictions seems to becoming a thing of the past and is a welcome development’

 

Full details of the new Spanish Mortgage here

 

Overseas property expert Amberlamb believes that while prices for some properties have come down, the high demand for villas in Spain means that many second home buyers may have to bring their expectations down somewhat in relation to what they can afford.

 

"The popularity of property in Spain has meant that prices for real estate have risen far faster than the average second home buyer can afford which has meant that town houses and apartments have grown in popularity simply because this is what the buying public can afford, " explained the company's co-owner, Rhiannon Williamson

 

According to a leading Spanish property expert, the demand for new courses and attached properties shows no sign of dwindling, despite the extensive facilities that are already in place in the country.

Paul Collins executive of BuyAssociation which deliver impartial overseas property advice through buying guides radio shows and podcasts remarked on the effect that Golf is having on the Spanish markets

 

"Golf tourism is an area of 'strong growth' and is fuelling the Spanish and Portuguese property markets. For the builders to fund the golf courses they build properties around the site. Thus we are seeing more golf property developments appearing in overseas property, even in Spain and Portugal, where there are already large amounts of golf facilities and properties associated with golf courses.

He added that many of the new courses are being designed by well-known current and past players, such as Tiger Woods, Greg Norman and Jack Nicklaus.