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Investing into real estate by proxy
- Thread starter JustAnotherNomad
- Start date
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.
As mentioned Spain may be an option. I remember one estate agent once recommended to me Caixabank for a mortgage on a holiday home as a non-resident for a property in La Duquesa. Think it was 30% down and interest rate was in the 3's or 4's.
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.
You said 0-3% before. Now its 0-2%
. Anyway I get it you want as low as possible.Can you post the name of the financial institution giving that mortgage for an expat like I did?
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!
I was referring to Spain. As you said you can get 2-2.5% for expats and my post you responded too was about Spain. I am not being funny I am personally interested thats why I am asking I want to compare conditions with Caixabank Spain
.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 helpsI was referring to Spain. As you said you can get 2-2.5% for expats and my post you responded too was about Spain. I am not being funny I am personally interested thats why I am asking I want to compare conditions with Caixabank Spain
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
Ok thanks.
Bankinter I already spoke to them about non-resident mortgages. Was not happening for the conditions they have in place but will look at the others.
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.Ok thanks.
Bankinter I already spoke to them about non-resident mortgages. Was not happening for the conditions they have in place but will look at the others.
if you have plenty of money avaialble I don't see how it can be difficult to invest in real estate. Most countries in Europe will allow a company to own property as long as they have money to pay for that property.
If you are interested in the Asian market (plus Australia and UK) you can get a mortgage with 30% down with UOB bank in Singapore, you can also calculate the loan here, but you need to have a privilege banking relationship with them first and for that, you need minimum 350K SG either in deposits or investments.
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