Interest Only Mortgage

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06 Jun 2009 00:00 by tonypullicino Star rating. 73 posts Send private message

Hi Everybody,

Just a quick question?

Is there such a thing as a Interest only Mortgage anymore with Spanish banks?

Many thanks

Tony





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06 Jun 2009 12:50 by mojito Star rating in Cupar Fife / San Jua.... 254 posts Send private message

We got an interest only  euromortgage through Leeds BS (Eurostatement)  We bought in December with repayments at 565 euros, it dropped that month to 265 and we've just received another drop to 205.  How good is that!   They're phone no is 01132167381.  The downside is we had to put down 40% but since we had put down a substantial deposit in the first place it was okay.  Good luck!



_______________________

Jo and Jim




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06 Jun 2009 15:07 by mariadecastro Star rating in Algeciras (Cadiz). 8586 posts Send private message

mariadecastro´s avatar

 We have been approcahed by a financial institution which offers up to 15 years only interest mortgages and assume mortgages of other Banks and financial institutions.

If you need more info on this, just contact us through pm or email. I do not want to disclose all the info and details here as it is not accordiong to the EOS style and rules.

Maria



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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07 Jun 2009 08:01 by advisor Star rating in London most of the t.... 311 posts Send private message

mortgages in spain have tightened up considerably and when you look at the uk economy probably rightly so!

I used to have 13 lender son my books not inclduing any "anglified ones" such as rbs, halifax,n&p etc etc this is now down to 7!

Interes tonly is available but tends to be only for those at circa 60% loan to value (or purchase price-lower of the two)

It is possible to get 70% ltv with the first 2 years interest only

 

good luck

 



_______________________

 

Nobody plans to fail, many fail to plan, sadly the result is the same.

 

 




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08 Jun 2009 09:41 by claire T Star rating in Torremendo, Orihuela. 689 posts Send private message

EOS Supporter

Hi - is it possible to get a higher loan to value than 70% these days?  I have a client who is looking for an 80 - 90% deal but I don't think there are any spanish lenders out there offering such a low deposit. 

Does such a deal exist or are they better trying in the UK?



_______________________
Claire



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