Halifax cuts Spanish mortgage rates

Amanda Jarvis

March 7, 2003

Mortgage rates of 3.705 per cent for loans up to 60 per cent and 3.955 per cent for loans up to 70 per cent of the value of the property are now available.

With the lighter nights now approaching, this move comes as good news for those people dreaming of sunnier climes. A growing number of Brits are moving permanently to Spain to escape long months of wet British weather, whilst others are buying a property in Spain to spend part of the year there whilst also retaining a property back in the UK.

BHH can also help customers looking for a property in Spain by providing information from the General Land Register, including the current situation with the property and its owners, as well as any pending charges. Once a suitable property has been identified, BHH can arrange for external reports covering the house and it's market price. In some areas of Spain, BHH can also provide legal and tax advice through a panel of external solicitors to assist with the house purchase, obtaining a resident certificate and helping with other paperwork.

Commenting on the latest reduction in interest rates, Ian Smith, Head of Operations (Europe) said,

“We are seeing historically low levels of interest rates in Spain which makes it an excellent time to finance that dream home in the sun. An English speaking helpline in the UK is available to help customers understand the Spanish house buying process as well as explaining the financial options available to them. For many people it’s much more convenient to discuss a potential Spanish purchase from the comfort of their UK home and so we have put initiatives in place to ease the process.”

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