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
Mortgages
Re: Mortgages
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.
There is a saying, Nothing for nothing.
Re: Mortgages
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)
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)
Re: Mortgages
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.
Thanks.
Re: Mortgages
I should have known Costakid wouldn't get it that wrong!
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