Mark,

 We too have a mortgage with caja murcia bank.

 Basically this is how it works,  if say you completed & started a mortgage in Jan, you will pay the euribor rate + typically 1%, this is fixed for 1 year, then after a year the new rate you will pay in our case is the average euribor rate + 1% 2 months prior to Jan, this then is fixed for a year ,this is repeated until the repayment of the mortgage.

There may be variations of this but thats the case with our mortgage , we have just gone from paying 5% to our new rate of 2.224 % a difference of € 200 per month. GREAT.

Hope this helps

Dave

www.rodagolfdreams.co.uk

Hi ,

If you click onto the roda golf & beach resort forum on here , you can find a thread ' driving to Roda ',its on page 7 ,this will give you all the info you require.

Regards

Lynda & Dave