mortgage advice for Spanish property
This articles is a bit long but quite handful and the author, Mark Mountney, organises well the tips that he wants to share.
You may be surprised at how many folk make assumptions and act without any research into the mechanisms of financial life here, and then wonder why things go pear-shaped.
Spain is not the UK, and that applies to most elements of life, whether it is financial or otherwise!
A rather obvious statement you might say, but then you may be surprised at how many folk make assumptions and act without any research into the mechanisms of financial life here, and then wonder why things go pear-shaped.
Whether your involvement in Spain is comprehensive (you have moved here as a permanent resident) or partial (perhaps owning a holiday or investment home), we have seen developments over the last year or so that would have likely impacted your wallet hard! But what to do to ease the pain, if that is possible?
Whilst not all things are, or can ever be, under your control, certain elements to your financial make up are, and it is these key elements that we need to focus on. Any improvement can remove or, at least, ease the position you are in and, not least, the anguish and stress that invariably come with financial pressures!
There’s an old saying that says ‘sometimes you cannot see the wood for the trees’. Translated into financial terms today it can be interpreted as the stress of dealing with everyday worries needs to be stepped back from. You can do but you certainly need to think differently than perhaps you have ever done before. Or get someone to help you!
So here are the areas to look at with the view to reducing costs and/or increasing income!
Please read the full article
1) Existing Mortgages – Payments high or hurting?
2) Bank Assurances
3) Savings gone – Eaten away due to reduced income?
4) Deposit rates through the floor and investment markets down … along with your income?
5) ‘Paid Up’ UK Pension funds
6) Spanish Tax