Low Rate Remortgages & Equity Release Loans
Our mortgage Service not only allows you to buy property abroad but we can also help with a range of refinance and equity release solutions.
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Spanish property prices set to fall another 20pc says leading bank
Spanish property crash is far from over, argues BBVA, Spain's second biggest bank. According to BBVA's latest report on the Spanish property sector, house prices will fall 10% this year, and 12% next year, leading to overall price falls from peak to trough of 30% by 2012, the year in which the bank expects the market to start its recovery.
According to the eggheads at BBVA who wrote the report, "the adjustment in prices has taken place quicker than expected." The same cannot be said for the country's glut of new homes, which the bank estimates at 1.2 million properties, and expects to reach 1.5 million by the start of next year. BBVA's estimates are significantly higher than the governments; a new report from the Ministry of Housing estimates there are just 1 million new homes in Spain in search of a buyer.
If you switch your mortgage you could save alot money on your mortgage repayments. If you are paying a high interest rate mortgage and are looking to save some money we have a refinance package to help.
What is Equity Release?
The value of your home minus any outstanding mortgage can be described as your 'equity'. Equity release is the process whereby this is turned into cash, which you can then spend on whatever you like.
Because the equity is yours in the first place, there is no tax to pay on the funds you receive, and there are no regular repayments to make. With a lifetime mortgage which is the most popular form of equity release, you continue to own 100% of your home throughout.
If you are a homeowner, aged 55 or over, you could be eligible to take advantage of releasing equity from your property. This can significantly improve your standard of living - enabling you to benefit from the comfortable retirement that you deserve.
How will Equity Release benefit me?
Releasing equity in your property is simple. Because the money that is obtained is yours in the first place - you're simply 'releasing' it - there is no tax to pay and the funds are yours to spend on absolutely anything you choose. Whether you wish to treat yourself to the holiday of a lifetime, help your kids onto the property ladder or simply improve your standard of living by clearing your mortgage or paying off personal loans, there are no restrictions.
In simple terms, the additional disposable funds that you can obtain through equity release allow you to enjoy a more comfortable retirement. Furthermore, you can have the opportunity to live out many of the dreams that you longed to fulfil whilst you were working or raising your family.
Contact us for further information.
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Marverose, S.L a company registered in Spain European vat number ES B53826798