Columnist Tancrede de Pola

SPAIN’S property market is the healthiest it’s been for years.


And the facts don’t lie, sales in the first quarter of this year were the highest they have been since the third quarter of 2008, the height of Spain’s property golden era.


A sign of good times ahead is that, according to the Land Register, foreign sales were up 13.2% compared to the first quarter of 2017.


It means the country’s property market is seen as a strong investment from buyers across the world.


More encouraging is that the Brits remain the biggest international group with a foreign market share of 14%.


It seems Brexit has been firmly shrugged off by the British, who have long been fundamental to the success of Spain’s property market.


Here at the Finance Bureau we have been kept extremely busy by Brits looking for a home in sunny Spain, and they made the right decision in seeking out a mortgage broker.


Buying a property overseas can be one of the best decisions you ever make, but if the correct steps aren’t taken, it could end up being the worst, without sounding too dramatic!
With established links to all the major Spanish lenders the Finance Bureau acts as a go-between for the client and the bank – but it is important to remember that the broker is not connected to the bank – and works to find the buyer the best deal available.


It’s important to have someone in your corner to highlight any hidden fees or compulsory add-ons tucked away in the small print and to ensure you get the best possible mortgage rate to suit your needs.


One of the biggest pitfalls can be ‘trap-related products’ that often get hidden in the small print.


These additional products get attached to your mortgage and usually include insurance policies.


It is important to know exactly what is attached to your mortgage. What may seem like a great rate can be soured by expensive – and sometimes unnecessary – insurance packages.


Using a broker will save both time and money as they will be looking out for these hidden add-ons and will always look for ways to lessen their impact.


And while the vast majority of banks specify the fees and commissions they charge, not all of these costs are always declared.


But the best way to ensure a good mortgage that does not hide anything in the fine print is to solicit the help of a mortgage broker.


When it comes to picking a mortgage, you must get it right on the first try as due to the relatively high transaction costs, it is virtually impossible to reverse.

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