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Spain Boosts Appeal For Investors

11th February 2007



Those looking to buy a property in Spain have received a boost from news that mortgages are coming down in price.

Spain continues to be the most sought after destination among Britons looking to buy a second home, according to recent research from Mintel, and those wishing to take out a mortgage for a Spanish residence have some attractive deals to choose from.

Indeed, the relative low cost of Spanish mortgages and homes is a key reason why many Brits looking to invest in a second property are doing so on the Iberian peninsula rather than closer to home.

Banco Halifax Hispania has just announced that it is cutting its Euro repayment mortgage for loans of up to 60 per cent to 4.633 per cent and it is one of many promising looking deals for individuals with an eye for Spanish property. Those wishing to borrow up to 70 per cent also take advantage of an attractive 4.733 per cent offer.

Ian Smith, the head of European operations at Halifax, commented: ''When it comes to owning that holiday home in the sun, Spain is certainly the favoured location with British people, so this latest reduction in interest rates is really good news.''


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