Spanish bank bargain property with 100% mortgages and discounts
Spanish bank bargain property with 100% mortgages and hefty discounts is still for sale. There are more options for buyers for 2017 as long established international brokers Walker Property Spain roll out their latest Mortgage 100 Portfolio:
Mortgage 100 purchase offers great property choice in all favourite Costas and inland, with discounts of 30% to 44% on developer prices, lower than average acquisition costs, and a revised professionally managed purchase management procedure to help buyers secure their property on the best possible terms.
Mortgage 100 Key Highlights
- 1,000s of new, key ready and repossessed villas and apartments across Spain.
- Interest rate of 1.92% var. for discounted list price purchase.
- Interest rate of Euribor + 1.25% var. plus negotiable extra rate on “Buyer Offer” property.*
- Purchase management professionals negotiate purchase on behalf of buyer.*
- On the spot real estate professionals negotiate your price and interest rate.*
- Pre-approval on mortgage applications bring added certainty for buyers.*
- All forms and paperwork supplied and progressed at each stage of purchase*
- Low monthly repayments equate to one week’s high season holiday rental.
- Around 66% of monthly repayments equates to one month long-term rental income.
- Low cost cancellation or remortgage after five years.
*Included in Purchase Management Fee – see chart.
How to Get Purchase Ready
We’ve been international brokers for Spanish banks since 2002, but the current high demand for their distressed and repossessed bargains is at its highest level in recent years. Many would-be international buyers have failed to secure their first choice property because they were not “Purchase Ready” as they struggled through layers of paperwork in a foreign language. Often, by the time they were ready to buy, there was only disappointment because their selected future home had been sold to someone else who got there first.
With high demand for bank bargains with 100% mortgages, securing both mortgage and property within a short timespan has proved difficult. One vital document, such as the legally required NIE (fiscal ID), can take three weeks to arrive. Couriers and the need for a Power of Attorney can add further delays in the purchase process. These properties sell in weeks and the best go first – as ever.
The Walker Property Spain Network Purchase Management Plan (PMP) links seamlessly with the bank’s property and mortgage departments, local keyholders, NIE and Power of Attorney providers, buyers’ professional advisors etc to ensure our buyers are “Purchase Ready” and therefore more likely to secure the property of choice. Numerous face to face meetings between bank representatives and our local affiliate property professionals are often needed to keep the purchase on-track and, often, competing buyers at bay.
Multiple viewing trips, which add to buying costs and deplete budgets, can be avoided as Mortgage 100 purchase has mortgage, properties, keys and banks organised and synchronised – awaiting buyer’s decision on which bargain property they want to go for.
After a successful pilot operation of the scheme, more buyers can now use Mortgage 100 Purchase Management Plan (PMP) to smooth the way to a stress-free, successful purchase with lower acquisition costs.
Mortgage 100 bank-owned bargains: How to secure yours
Email us at firstname.lastname@example.org for sound answers to all your questions.