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31

Internal memos (Villas Fox staff) / How to reserve a property without risking any deposit

« Last post by Sorelle Fox on February 17, 2010, 12:05:36 PM »

Once you see a property you wish to buy, we can reserve it for you for 7 days without a deposit.  During this period, unless the property is still under private ownership, the property will not be sold to anyone else unless you cancel the reservation.   This will give us time to assess your suitability for a mortgage, without you risking any deposit.

Once you have paid some of your deposit (usually 5% of the purchase price) the property will be reserved for you for a period of 1 - 2 months giving you time to complete on the purchase.

32

Internal memos (Villas Fox staff) / How to estimate the cost of expenses

« Last post by Sorelle Fox on February 17, 2010, 11:52:42 AM »

The expenses and fees involved in buying a Spanish property with a mortgage are usually about 11.5% (not including your own solicitors fees if you choose to use one - which can be from about 800 euros upwards).  However, in 2010 the bank are waiving the 1.5% opening fee, so your expenses will be approx 10%.  For a purchase with a 90% mortgage, you will therefore need 20% of the purchase price to complete the sale, plus your own solicitors fees if applicable.

For example, if the purchase price is 100,000 euros, then you will need at least 20,000 euros in order to complete.

If the purchase price is 200,000 euros, then you will need at least 40,000 euros in order to complete.

Don´t forget that we may be able to negotiate a discount on the listed purchase price for you!

33

Internal memos (Villas Fox staff) / Amazing mortgage offer from our bank - FREE 90% MORTGAGE for 3 years !!

« Last post by Sorelle Fox on February 09, 2010, 12:20:55 PM »

Great news for anyone looking to pick up a Spanish bank property bargain !  The bank has this week launched an offer which allows buyers up to 80% mortgages (ie you pay only 10% of purchase price plus expenses up front), with 0% interest for 3 years, and NO capital payments to make for 3 years !!  Even better - NO opening fee to pay either (saving a further 1.5%). 


To recap:

* 80% mortgage
* Pay NOTHING for 3 years
* NO opening fee
* Your mortgage is effectively frozen for 3 years
* 0% interest during the 3 years
* You only have to pay 20% plus expenses (expenses will be 10 - 12% of purchase price) up front
* Subject to status
* Available to residents and non-residents
* Offer not available on commercial premises
* Properties must be destined for your own use (whether first home or holiday home)

This is very exciting news for prospective buyers, particularly as the offer extends to ALL properties on this website, and on ALL properties that we have access to (but don?t always have time to publish here), except commercial premises.

If you have any queries, about this offer, please don?t hesitate to contact me.

Very best regards,
Andy
(info@spanishbankproperty.com)