Spanish mortgages
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My husband and I and our two sons are buying an apartment overlooking Campoamor Golf Course. The problem is our two sons have a Spanish mortgage but in the two years since they took it out it has risen nearly double from just under 3% to nearly 6%. Does anyone have any ideas what would be the best way forward, they have young families and mortgages in England,where they live, so cannot carry on paying these increases. None of us want to sell our apartment but my husband and I are not in a position to help either with the extra mortgage.
Many thanks
This message was last edited by normascott on 9/18/2007.
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How about trying to rent it out for a few weeks a year?
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