Some distressed properties for sale

[Edward Briggs]

Are Spanish banks tightening lending requirements like what we are seeing in North America?

Edward

[rowlandsbb]

Everyone is now more cautious but if you have a good deposit then there are some very good terms still available
eg with circa 30/40% deposit up to 40 years [ paid off by 80] and up to 15 years interest only
Naturally the property will have to value OK
So if you are selective with location there are still some good buys both for Life Style buyers and investors
Codado de Alhama is a good buy with a 2 bed maisonette from 119.800 € ready circa 22/24 months
Lots of info available to you if you ask

[TCPS]

Originally Posted by steviego1

hi,
can anybody tell me what is the minimum investment i can use to purchase a proprty in spain,and the best mortgage supplier is? thank you.

The best deals we have are going to cost you nothing, and on top of that you will receive cash back, and a mortgage contribution for the first year. A rental management on the development will handle short term holiday lets or long term lets. There are two offers at substantial discounts to recent bank valuations, and both in good areas. Now is certainly a good time to buy in Spain if you do your homework. Spain will always be a preferred retirement, or second home option, with established infrastructure, and close to the UK, and little language difficulties.

[Goldberg Global]

Sounds good Michael, please be in touch.

How much goes on the escritura?

[kennyhubbard]

Hi guys,

Where can one get a good deal with say 15000 euro down(including VAT and legal fees)?

Would be looking for buy-to-let, so ideally should be cashflow positive after mortgage(or at least neutral)?

Many thanks

Kenny

[Goldberg Global]

Hi Kenny as previously sent via PM, I dont think these will exist or come up for the international market.

Why? Because people would buy them themselves! It is obviously, who is going to give up a cash making asset, or appreciating asset with low, no money down.

The only market that will come up is the holiday/investment market, where you want somewhere to use yourself and for rest of the time rentals. We have these sorts of products.

The buy to let market in Spain is one of the worst ones in the world, it was rated 121st worst out of 126 countries, so I think you are barking up the wrong tree for this type of product.

Other countries offer higher yields for sure. (I have one in mind, that offers this with low money down, not 15000, well possibly, but gives guaranteed rentals that pay the mortgage, it is not Spain)

Originally Posted by kennyhubbard

Hi guys,

Where can one get a good deal with say 15000 euro down(including VAT and legal fees)?

Would be looking for buy-to-let, so ideally should be cashflow positive after mortgage(or at least neutral)?

Many thanks

Kenny

[Goldberg Global]

Starting to get bank repos in, so if any one is liquid, has cash, and can move quickly there will be some holiday homes coming on stream, one took on yesterday 230k, a year or so a go this would be 380 to 400k, now bank needs to cover its backside and is on 230k for detached villa. In a very very good location. You should pay that much for an apartment.

Wow good deal if you got cash and want a holiday home. Very good deal.

[rowlandsbb]

Sounds good.....is it a legal property without any land grab potential?
Send me details

[Damian George]

do you have any photos you can upload on the devlopment and location?