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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