Mortgages

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casaizbor
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Joined: Mon Jul 21, 2008 5:32 pm
Location: Yorkshire

Mortgages

Postby casaizbor » Thu Jan 26, 2017 10:52 am

Firstly, apologies to those of you who regularly answer my queries but then find I am asking about something completely different next time.
This time I am looking into the possibility of a mortgage, preferably interest-only, in order to purchase a Spanish property. Do interest-only ones exist for such a purpose?
Does anyone have experience of doing this? Did you go for a Spanish lender or UK one? Will Brexit affect my choice? Bearing Brexit in mind, should we still be considering buying in Spain? Anything we buy now will be used for holidays for a few years until we can spend extended periods of time out in Spain.
We have a Spanish solicitor who says they will look at three lenders to find us the best deal.
Any advice, recommendations etc gratefully received, as ever.
Many thanks.
Ali

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costakid
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Joined: Sun Feb 13, 2005 11:55 am
Location: malaga este

Re: Mortgages

Postby costakid » Thu Jan 26, 2017 11:03 am

So if I am correct you want to borrow money to buy a house and pay no interest? When you find that deal please let us all know and we will all have a bit of that deal. I do not need a mortgage but free borrowing does not exist. Did you mean interest only??
There is a saying, Nothing for nothing.

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gus
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Re: Mortgages

Postby gus » Thu Jan 26, 2017 11:27 am

Costakid,
I think you are missing something ? Interest only mortgages have been around for many years....pay the interest on the loan and repay capital from an insurance or investment policy. (Unless the OP has edited their post)

casaizbor
Andalucia.com Amigo
Posts: 25
Joined: Mon Jul 21, 2008 5:32 pm
Location: Yorkshire

Re: Mortgages

Postby casaizbor » Thu Jan 26, 2017 2:34 pm

I did edit it but hoped I'd done it before anyone had noticed - I wasn't quick enough! I just wondered if interest-only were available in Spain as I've seen on some sites that they are no longer available.
Thanks.

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gus
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Joined: Wed Jun 16, 2004 12:11 pm
Location: Bucks./Fuengirola (varies) :-)

Re: Mortgages

Postby gus » Thu Jan 26, 2017 3:58 pm

I should have known Costakid wouldn't get it that wrong!


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