Recent content by PAULIE100

Nice..thanks...hope i have helped!

Its all about relationships with the bank manager Martin..you can have a great bank in one town, and a shite one in another...when we find a good manager we stick to that branch...any help PM me.

Standard requirements are, in general.. if UK based, then tax return/P60..wage slips, 3 mths bank stats, copy of cred report, utility bill...and fiscal number from Spain/Portugal...we can help most clients!

Spain we don't use Caixa, they aren't the easiest to deal with...we use UCI 70%, Cajasur if in Andalucia, Bankinter for higher incomes/more expensive properties, Bankia only 60%, Sabadell 60% but high life ins mandatory...rates 2.5% across board, maybe less if a bank repo....hope that helps:)

The main 'competent' high street banks I deal with in Portugal are Caixa Geral de Depositos (CGD) and Millennium BCP. It's all about finding the best manager!

Its down from 3's and 4's now...even in Spain you can get 2-2.5%. I did one this week with a spread of 1.2% against the 12 mth euribor in Portugal.

Resent email now. On the 100% financed, you need to have available 6-7.5% for purchase taxes, stamp duty, lawyer/notary etc. tax is on a sliding scale depending on purchase price. Stamp is 0.8% of purchase and 0.6% of mortgage amt. At the moment process times anything between 6-10 weeks.

Emailed you...bounced back.. They are all capital repayment these days!

Yes, the Algarve is more vacation, but there is also a great long term rental market there. Prices have not appreciated on the Algarve quite considerably over the last 5 yrs, and it hasn't depreciated in the current climate. You also have the NHR regime in Portugal that we can work with...

On the Algarve you are looking at approx 250k min for anything decent that rents well. Mortgages upto 40yrs (age 75). Although there are bank properties all over Portugal. I can help advise on income necessities.

It is more difficult to obtain a high LTV on quality properties in Spain now. Can still get 100% but not so great quality stock. Can get 70% loans max there on resales. 100% is still achievable in Portugal on bank repos, 75% on normal sales. Interest rate at 1.5% is pretty good, even less on...

I have arranged mortgages in Spain and Portugal for the last 17 years for non residents. There is no problem with this in personal names. Interest rates in Portugal are circa 1.5% on bank repo properties, and some banks are still giving upto 100% lending on their own stock. Spain more difficult now.