Descrption:
Homes and Property on the Costa del Sol do not need to cost a packet........
15 DECEMBER 2006. SOURCE: MONEYEXTRA.COM
Norwich and Peterborough Building Society (N&P) has unveiled three new mortgage options aimed at people looking to buy property abroad. Richard Barker, N&P's product manager, said, "With an estimated 761,000 Britons living in Spain and the trend to move abroad showing no signs of slowing, we are constantly reviewing our product range to ensure we meet our customers' needs."
On offer are two fixed rate mortgage options, each with a follow-on rate of Bank Base Rate + 1%. Alternatively, the new tracker offers one of the lowest currently available rates for those looking to buy in Spain with a Sterling loan.
Norwich and Peterborough Spanish Home Loans has been offering UK residents, ex-pats and Gibraltar residents finance to buy or re-mortgage their main home, holiday property or retirement residence since December 1998. N&P lends from Gibraltar, along the whole of the Costa del Sol and along the Costa Blanca to La Manga.
Spain remains a 'hot spot' for Brits buying abroad according to HiFX's seventh Global Property Hot Spots review into trends for Brits buying property abroad. France and Spain continue to beat off stiff competition from the bargain basement emerging markets such as the Eastern Bloc countries, together accounting for just over half (55%) of all HiFX's currency transactions for buying property abroad in November.
Mark Bodega, Marketing Director of HiFX comments, "Despite a fair amount of dabbling by investors in some more exotic locations, old time favourites France and Spain are still the first choice for British buyers looking for a holiday home or retirement home.
"Spain for example, pioneered the trend to own overseas property and is still one of the UK's favourite destinations for a place in the sun."
http://www.moneyextra.com/
posted by Property Investments at 9:18 PM |