Are you having problems getting a mortgage?

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15 Jan 2011 00:00 by Rob in Madrid Star rating in Madrid. 274 posts Send private message

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I've been hearing tons of stories of people having problems getting mortgages, not just foreigners but Spanish as well Anyone out there having this problem?



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Decided after all I don't like Spanish TV, that is having compared both.




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15 Jan 2011 13:33 by georgeh Star rating in condado de alhama sp.... 1462 posts Send private message

 mortgages are easy to arrange on a good ltv (85% or lower) ,provable income and a good credit score.

110% mortgages are available on some bank reposesesions but obv the mortgage is from the same bank.



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15 Jan 2011 14:30 by Rob in Madrid Star rating in Madrid. 274 posts Send private message

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that I'm surprised at, are they British or Spanish? Just had a friend put an offer in on a place (owner asked 220 they offered 180) and yet they got turned down by two banks, haven't heard on the thrid yet. Even though they have good income niether have perment jobs. I don't know the loan ratio but would imangine they put a good downpayment on.

As the the bank repossesions, IMHO it's a great deal for the bank, gets a worthless property off the books and in to the hands of some poor sucker who overpaid and then mortgaged his life to do it.

 Even at the bank (french bank who do mortgages through Barclays) my students said even some employees are having problems with mortgages.


 



This message was last edited by Rob in Madrid on 15/01/2011.

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Decided after all I don't like Spanish TV, that is having compared both.




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15 Jan 2011 15:49 by georgeh Star rating in condado de alhama sp.... 1462 posts Send private message

 income needs to be permanent or they will get turned down generally .

bca populaire is offering these deals on condado de alhama



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15 Jan 2011 19:25 by Rob in Madrid Star rating in Madrid. 274 posts Send private message

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Yeah that's exactly the problem neither had perment income.

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Decided after all I don't like Spanish TV, that is having compared both.




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