There were and are
customers who, for various reasons, want to finance part of the purchase price
of their Mallorca property. Though we are not financial agents, of course it belongs to the
scope of services that we offer our customers, to support them in this matter
with help and advice.Part of our clientele
comes from Spain and here we have the slightest need for action, because normally
this type of customer finances with his own bank. Our activity is then limited
essentially on providing the bank with the required property documents.The international
group of buyers, coming from practically all European countries, acts in many
cases as well as the Spanish people, they finance with their own bank, transfer
the money to Mallorca and pay the purchase price for their property.The main difference
to the financing with a Spanish bank, though, is that usually the bank in
Germany, France or Norway etc. does not go into the Spanish Land Registry,
because the procedures are too complicated. So the customer provides to the
financing bank beside of his creditworthiness even additional collaterals, such
as securities or title deeds.This solution is not
always in the interest of the customer and so we were and are constantly
working to seek and offer better solutions.Before the beginning
of the financial crisis one could negotiate with a number of Spanish banks an
acceptable mortgage. Though the situation has improved slightly in the last
year (2013), most of them still can not offer a good financing.However, a financing
with a Spanish bank offers also for the non-Spanish clients the significant
advantage that he can provide the bank guarantees by the entry of his real
estate in the land register of Mallorca. After a long search
we can now recommend, beside to the Deutsche Bank in Palma, with which we
maintain good contact for many years now, an additional Spanish Institute,
which offers international purchasers of Mallorca properties financing up to
60% of the purchase price or the appraised value at acceptable conditions.
Franz Stockinger
Azur Mallorca Inmobiliaria S.L.U.
Mallorca property at all the beautiful shores of the island and in the romantic center of the Island
.jpg)
.JPG)
1 Kommentare:
It’s really good to buy property in Mallorca because there are wide selections of farmhouses, plots through to villas, townhouses and new apartment developments.
Mallorca Property
Kommentar veröffentlichen