english mortgage or spanish

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Tuesday, May 15, 2007 nickid Parcela I'm in west midlands brought in san cayatano murcia I've made 22 posts Send private message to nickid	please help we are in the process of thinking about buying in spain (inspection trip to be arranged) but I am confused about mortgages. our english mortgage has about 15 years left and we think our english property is worth about 100 thousand pounds more than we paid. Do people remortgage their own property or take money out of the property so we than then pay for the spanish property in cash. It would seem easier to just have 1 mortgage. Also where do you find independant solicitors, are they in spain or england ? We are very new to the whole spanish property situation so any advice would be useful Thank you. Spam post? If so please click here to report it
15 May 2007 5:09 PM JeansSis EOS Superstar I've made 2511 posts Send private message to JeansSis	This message was last edited by JeansSis on 5/18/2007. _______________________ Be respectful to other members who try to help. Read forum rules Spam post? If so please click here to report it
16 May 2007 7:40 AM nickid Parcela I'm in west midlands brought in san cayatano murcia I've made 22 posts Send private message to nickid	thank you for replying, we are hoping to buy around Murcia, we did originally want to go to Vera area however people are saying that rental may not be as good as it closes down in the winter and it may be too quiet an area for our children as they get older(they are 12 and 15 years Spam post? If so please click here to report it
16 May 2007 9:00 AM EOS Team Moderator I'm in Costa del Sol I've made 2026 posts Send private message to EOS Team	nickid Did you hear the interview I did with Smiley about mortgages? Just click the "Interviews" link in the menu above to listen to it. It's long but very interesting. Or, download the free ebook version of the interview if you want a hard copy: Mortgages ebook Justin _______________________ Spam post? If so please click here to report it
16 May 2007 11:38 AM georgia Villa I'm in Algorfa (As seen on TV!!!) I've made 1092 posts Send private message to georgia	Hi nickid, I have just sold to clients who asked me the same question I do not pretend to be an expert but i can give you their example. They wanted to release £100,000 from their UK home to purchase a property in Spain,they did this by taking an interest only mortgage on their home for the full amount here,this kept their payments down and allowed them to purchase without selling,i think they were offered about 5.5% from an UK high street lender. They had a lot of equity in their property in the UK allowing them to finance the purchase here. They seemed pleased with the offer and payment terms they received,if i could offer advise it would be speak to your bank before you come to Spain and then at least you will know the budget that is affordable and you are comfortable with. Smiley is the expert on Mortgages here and maybe he could offer advice on the Spanish side of things as he obviously knows the best deals avaliable. Remember,Smiley for mortgages,Georgia for buying property!!!! Regards Georgia _______________________ "if you tell the truth you don't have to remember anything" Spam post? If so please click here to report it
17 May 2007 11:26 AM Smiley EOS Superstar I'm in Nueva Andalucia I've made 2045 posts Send private message to Smiley	Hi Nickid - to be honest the decision really should lie with you and your own personal circumstances. Without doubt arranging an equity release on your UK property is very straightforward but a lot depends on where you want the debt and long term plans for perhaps moving to Spain. Generally Eurozone rates are lower than in the UK and for long term tax planning it can prove more advantageous to have a mortgage charged on the property in Spain. Ensure that you consider all your options and make sure you are doing things right at the outset as it can be costly and much more complicated to arrange an equity release on Spanish property after completion. Loan to value ratios are generally lower than for a purchase. If you need more specific information then I need more specifics and we would need to have a chat for 45 minutes or so. Rgds _______________________ *Smiley* - patrick@marbellamortgages.com www.marbellamortgages.com *Sarcasm is the lowest form of wit .....but any form of wit is an achievement* NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK. TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING! Spam post? If so please click here to report it

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