anyone got a loan? (mortgage?)

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spanish_lad
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anyone got a loan? (mortgage?)

Postby spanish_lad » Sat Feb 04, 2006 10:56 am

i´m asking because my parents are looking at buying a shop, and would need a loan of around 60k, secured on the shop.

has anyone done anything like this ? does it work the same way as the uk? the business is the "collateral" or would that have to be our house?
Alhaurin el Grande since ´99, working at the airport since 2011.

katy
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Postby katy » Sat Feb 04, 2006 3:54 pm

If the shop premises are only rented then the loan would have to be against the house.

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meseta
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mortgage

Postby meseta » Sat Feb 04, 2006 4:44 pm

Generally Spanish banks don't simply rely on collateral, they are more interested in proven ability to repay the loan.

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spanish_lad
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Postby spanish_lad » Sat Feb 04, 2006 5:29 pm

katy wrote:If the shop premises are only rented then the loan would have to be against the house.

leasehold with monthly rent.

is that what you mean ?
Alhaurin el Grande since ´99, working at the airport since 2011.


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