Will it make a difference????

I have been contacted by a rep. from Banco Pastor who appear to hold the present mortgage on the Apartments in Hacienda Casares. In offering to advance me the mortgage on my apartment their offer appears better than any other I have been able to source so far. Based on 60% of the purchase price they are offering a rate of EBOR + 1% and a start up fee of 0.5% of the loan amount There is no penalty for partial early paymnet - full early payment incurs a charge of 0.5% - and there is an offer of an "Interest Only" element for the first 3 years. They require you to open an account with them and to insure the property with them as well.

Anybody else been contacted by this Bank and if so what are your thoughts on this offer?

Is this Banco Pastor in Estepona?

David

Hello all,

 I have this offer for non resident from a bank in estepona:

 Opening commission: 1%

First Year Interest Rate: 5,5%

Interest Rate: Euribor +0.7%

Partial Cancellation: 1% (if the amount is more than  20% of the capital per year)

Total Cancellation: 1%

Years: Max. 30 years, with chance of a increased mortgage 1,5 per year.

Amount: 70% of the minor price between buy and valuation.

If someone is interest please send me a private message.

Regards

Juan

Hi Juan, I would be interested to know more as I am chasing around all the banks at the moment looking for the best deal.

Regards

David Deacon

This is the new offer i have for a bank here in Estepona for non residents:

• Opening comision:1%
• Interest  Rate until the first revision 5,45% (with the actual Euribor value)
• Variable Interest Rate after the first revision Euribor + 0.68%
• Partial Cancelattion: 1%
• Total Cancelattion: 1%
• Credit Amount: Up the 80% of the valuation price (doesnt mean what it figures in the buying contract)
• Interest only: Up to 15 years (depends the amount of the credit)     
• Up to 40 years mortgage

So if you finance between the:

•  80% and the 71% of the valuation price you get 1 year interest only.
•  70% and the 61% you get up the 5 years interest only.
•  60% and the 51% you get up to 10 years interest only.
•  50% or less you get up to 15 years interest only.

Whit this bank are other mortgage options, as always any question you have, you can send me a email or a P.M.

Best Regards.

Juan