Did you know that you can have the mortgage on your Spanish property in your own currency and avoid the exchange rate roller coaster?
At Michael Moon we are always delighted to have access to the latest and most relevant mortgage products.
One of the biggest nightmares faced by owners of properties outside their own country has been the changing exchange rates which have affected their mortgage payments. During the last 5 years for example UK residents and wage earners have dramatic changes in the Euro/Pound exchange rate which has moved between almost parity and 1.35 Euros to the pound.
The good news is that our mortgage providers have the answer to this problem. They are working with banks that will allow for the spanish mortgage to be in the currency of the borrowers for the full duration of the term. This is really good for those who have fixed monthly incomes and who need to be able to budget their outgoings with accuracy.
These currency mortgages are available in Pounds Sterlin )GBP), Swiff Francs (CHF) or Norwegian Krona (NOK). The conditions for the sterling mortgage are very attractive at up to 70% of the purchase price or valuation for a 20 year term with an interest rate of Euribor +1.5%. The terms for the CHF and NOK mortgages are 60% and Euribor +2.05% but are still in high demand for borrowers living or earning in those currency areas.
If you would like more information about these currency mortgages then please just give us a call on (0034) 952 90 52 00. You can also send us an e-mail to . Please include your telephone number and we will be sure to call you back.
