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theSpanishBrick.com

I am positive about the property Spanish market. I believe it's still a good one for investors and people who want to have a place in Spain. The good point of the current crisis is that prices still have a way to drop. Probably we will see better opportunities for everybody.

Homebuyers trapped by Banks Swaps Strategy
21 October 2010 @ 14:53

www.thespanishbrick.com

It could be dozen of thousands of Spanish mortgage borrowers who have been affected by Swaps products commercialized by Spanish Banks between 2007 and 2009. So far, there are more than 4,000 already registered as affected, but only Banks know how many there are. La Caixa, Santander, Bankinter, Caixa Galicia and BBVA are the ones that most widely sold this product.

Banks in Spain have a well-earned bad reputation. The main points to consider when dealing with Spanish Banks for mortgages are:

1) Do not sign any extra document linked to the mortgage.

2) Make sure you understand the cancellation cost properly -both total and partial cancellation. It usually varies from 0.5%-1% on top of the remainder of the mortgage.

Read the full article about Spanish Banks mortages




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