Interest-only galvanises Spanish mortgage market

Europa Mortgages, an independent broker, based in Malaga, Spain, is now working with an expanded panel of lenders, now offering a range of interest only mortgages in Spain

[ClickPress, Thu Mar 15 2007] Several years of rising property prices in Spain, combined with recent rises in the Euribor rate, has made obtaining a mortgage in Spain more problemmatic for overseas buyers, than in recent years.

Europamortgages.com, an independent mortgage broking firm, based in Malaga, has expanded their panel of lenders in order to offer their customers the widest choice of available Spanish Mortgages.

Managing Director, Chris Norman, explains that "we have been working with and expanding our panel of lenders, to be in position to successfully place the vast majority of mortgage applications that we receive, with the best available rates and value. Due to the volume of business that we are generating for the banks, we are able to obtain better than published deals for our clients"

Europa Mortgages are also maintaining their strict "no fee" policy for their clients. The majority of brokers in Spain levy some kind of direct broking or admin fee on their clients, in addition to any bank opening fee. Chris Norman commented that "we made the decision not to charge an additional fee because we don't see why the client should effectively pay us twice. Our clients pay only the standard bank opening fees"

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