Meta Search Engine Navigation


Look For It  




Spanish Mortgages Explained



by Joseph Kenny

ARTICLE REPRINTING IS PERMITTED

Does the thought of negotiating a property deal in Spanish bring you out in a cold sweat? The complexities of mortgages are confusing enough; let alone considering a different language and legal system.

Never fear though, as there are experts who can guide you through the process and do the negotiating on your behalf. Most will speak fluent English, and have a thorough knowledge of the Spanish market and house-buying process. As it has become more and more popular to buy abroad, the options have increased. You can now take out a 'Spanish mortgage' with some of the high street banks and building societies, specially aimed at those buying abroad.

Brokers

The mortgage system and broker system is very different from that of the UK. When it comes to dealing with local bank managers and solicitors, a good broker could make a world of difference, simplifying the process and making sure that you clearly understand all the Spanish terms. Be aware that brokers in Spain are not regulated - anyone can set up as one. You should look for one with an office, and that is SL registered (similar to a limited company). You can also request to see copies of certificates and qualifications. You will probably need to set up a bank account in Spain, or a multi-currency account.

Law Professionals

You'll need a qualified solicitor or lawyer, who is bilingual and experienced in the legal process of buying in Spain. Anything that requires a signature or payment should be checked with your solicitor first. If you are not going to be resident in Spain, you'd do well to appoint a 'fiscal representative' to deal with correspondence from the government while you're away - your lawyer is an ideal choice. You may choose to employ a 'gestor', a local who takes on the task of legal form filler and can assist with permits, licences and importing possessions, as well as financial matters. You may also want to consult a UK professional, such as a financial advisor, to check on tax issues. This will be particularly true if you intend to rent out your property.

Estate Agents

Officially registered, licensed estate agents can be your most useful contact throughout the whole process - with a good local knowledge they can advise on both finding and buying a property. The internet will provide a vast amount of agents dealing in Spanish property - check that they are fluent English speakers and fully licensed.


Information About The Author

Joe Kenny writes for the UK Loans Store where you will find information and reviews of the latest loans and offer more information on secured loans and other loan topics available on site.
Visit Today: http://www.ukpersonalloanstore.co.uk


Published by Meta Search Engine LOOK-4IT.COM.




You can reprint this article for FREE at your web site. Doing this you agree to keep all texts and hyperlinks unchanged.

Please keep reference to LOOK-4IT.COM meta search engine as well, if you decide to use this article as a free content for your web site.

Back to article category: Mortgages

Additional Mortgages Articles

Mortgages, loans and refinancing made easy
You can get a loan from a lender if you are not qualified for getting a credit. There are some tips you should take into account and they will help you get the loan you need for a new house, for instance.

Mortgage refinance top tips and ideas
A mortgage refinance actually means applying for a new loan which will replace your present loan. Learn how to make the most out of this and how to make your financial future easier and safer.

Mortgage Rate Shopping
Although it may not be natural for many to haggle with a broker or lender; concessions are many times offered for those who are willing to fully utilize an independent mortgage broker that can shop multiple lenders.

Can't Pay the Mortgage Payments
When you bought your home you had a good job with a steady paycheck. Your spouse also was working. There was no problem in paying the monthly mortgage payments. Now the situation has changed. Your company has downsized and you are unemployed. Your savings has run out and your mortgage payment still has to be paid every month. You have received letters from the mortgage lender regarding the late and missing payments. What should you do?

Cutting your mortgage cost through cheaper insurance
Don't just look at your mortgage rate. Look at your insurance costs too.







Home  |  Submit Article  |  Link to Us  |  Directory  |  Free Content  |  Contact Us  |  Privacy Policy  |  Terms of Use

Copyright © 2005-2006, LOOK-4IT.COM. All rights reserved.

All trademarks, icons, and logos, shown or mentioned at this web site, are the property of their respective owners.
The information in the articles is provided without any warranty and must by used by the reader at their own discretion.
A professional opinion should be sought before taking any of the advice.