View more on these topics

Abbey launches Spanish mortgage for ex-pats

Abbey is launching a range of mortgages for UK residents wishing to buy properties in Spain.

The mortgages, issued in Euros, will be available direct from Abbey by calling the Spanish home finance team, who will give mortgage advice and guide customers through the application process.

Jeff Scott, head of specialist lending at Abbey, says: “By taking advantage of cost synergies across Abbey and Banco Santander, we have been able to offer overseas mortgages at very attractive rates.

“Increasing numbers of UK residents are buying properties abroad, whether it is retiring overseas, investing in holiday homes or even first-time buyers priced out of the market here.

“One of the favourite destinations for overseas property investment is Spain, and under Banco Santanders ownership, offering Spanish mortgages from Abbey is a logical next step.”

Buying a house abroad can be a daunting process and the housing-buying and legal process in Spain differs from that in the UK. Abbeys Spanish home finance team will guide people through the process.

Abbey will complete the full application including customer ID and affordability checks and will underwrite the mortgage in the UK. Banco Santander will process the mortgage, provide an offer to the customer and issue the funds, with the deeds being held in Spain.

Recommended

Freedom Lending signs 50% deal with MPLC

Freedom Lending, the Wilmslow based specialist mortgage lender, has agreed with Mortgages PLC to sell at least 50% of its mortgage production during 2006. The flow agreement enables MPLC to accelerate the growth of its mortgage book, while giving Freedom Lending the confidence to boost its mortgage sales knowing it has a guaranteed buyer of […]

Trigold confirms BMS has joined ENC

Trigold has confirmed today that BM Solutions has joined ENC, the Enhanced Non Conforming sourcing module available to all Trigold users, who account for over 60% of the market.ENC allows brokers to search, sort, select and apply for sub-prime mortgages.The addition of BMS means that over 95% of the market now supports ENC.All products within […]

Fab Four may be in the dog house over HBO contracts

The four directors who resigned from Chester-based lender The Mortgage Business earlier this year are believed to have been carpeted by HBOS for breaching solicitation agreements in their employment contracts. Former TMB managing director Bill Dudgeon, sales director Mark Bergin and fellow TMB directors David Parry and Paul Graham quit in September to spearhead the […]

Amber sells 14m of mortgage loans to the Scottish

Amber Homeloans has announced its 50th portfolio transaction following the sale of 14.2m of mortgage loans to the Scottish. This is the first transaction between these two organisations and was brokered by Mutual One.Mark Smitheringale, director of asset trading at Amber, says: “We are delighted to have established this relationship with the Scottish and look […]

Newsletter

News and expert analysis straight to your inbox

Sign up