We are waiting for spanish mortgage offers from our IFA as we had one offer to take over the builders mortgage - subrogation mortgage, but cannot accept this because the fees are astronomical (approx 5500 euros) and ontop of that they are not offering the 70% loan to value that we thought they were going to offer.
can anyone confirm if it is usual for spanish banks to offer 70%, or not? we thought it was normal.
also, do we need to get a new valuation since we put the deposit down 3 years ago, and the property market has decreased in value by some 40%, so would we now be able to get a mortgage based on the builders original valuation? does anyone know how to go about getting a new valuation?
also, if the mortgage companies say no, does this give us power to bargain on the price based on the current market?