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80% Mortgage For Spanish Investors

5th December 2006

The largest British bank in Spain is now offering property buyers the opportunity to obtain flexible 80 % mortgages. This is the highest ever loan to value ratio offered by the bank in Spain and it also has the longest ever mortgage term of 30 years.

It is believed that this bold move by Barclays is partly due to its desire to retain its position as the biggest UK bank in the country, a position which has been challenged by the launch of Banco Halifax Hispania. Another possible reason why Barclays is planning to offer foreign property investors longer mortgage terms is that more young people than ever before are looking overseas to invest in the property market.

Barclays is also doubling the number of branches in Portugal. The bank said the Algarve continues to be a growing market for British buyers and Portugal is becoming as popular as France and Spain for overseas property buyers.

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