Re-mortgages

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07 Jul 2012 19:30 by JayTB Star rating. 7 posts Send private message

 Hi guys,

wish I'd seen this site years ago!

Very simple question really,

are there simply any banks that do re-mortgages on country properties now in Spain?

I've looked for months now and keep getting replies from brokers saying, banks are not doing re-mortgages on cortijos/country properties, even if there is no current mortgage on them.

 

Any ideas?

 

Cheers

 

Jay

 





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08 Jul 2012 11:12 by rod Star rating in Uk and Spain. 469 posts Send private message

Basically the banks have no available funds for this type of proposition and this is likely to continue for some time

Have you tried to utilise any offshore assets ie remortgage your UK property or access your pension as a last resort

Rod



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08 Jul 2012 13:01 by JayTB Star rating. 7 posts Send private message

Hi Rod,

All my assets are property related (I know I know, too many eggs in one basket), so releasing equity in them in the UK is nigh on impossible.

I may go down the route of 'selling' the property to my business partner (who I have my UK properties with),

that way I can release funds through the mortgage he would get, in fact I am going to post this in a new window for advice on how much tax he/I would have TO PAY.

I have heard that if I form a limited company I can postpone the capital gains tax for upto 5 years?

 

Have you heard this?

 





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