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.What are the other costs involved.
How long does the process take
Sounds difficult... I was hoping for some good way to pay 10-30% and get a loan at 0-3% for the rest. So that the tenants could pay for everything.
3-4% is quite normal in most countries as a non-resident. I’m looking for 0-2%...
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.
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 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.
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!Can you offer more details about? Requirements
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![]()
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.
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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.
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.oh, to tell you the truth, it's actually too hard to get involved in such things if you're not a resident of this country. However, i got really lucky when I returned my citizenship in my own country, where I can now invest in real estate.
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.Just bumping this to see if anyone has gone ahead with an overseas mortgaged property recently?
Can we get in touch?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.