The cost of buying a property in Spain is reduced again
21 June 2005
Source: Halifax press release
Banco Halifax Hispania (BHH), the Spanish arm of Halifax plc, has reduced its euro mortgage rate with immediate effect. Mortgage rates of 3.193% for loans up to 60 per cent and 3.443% per cent for loans up to 70 per cent of the value of the property are now available.
The move, which follows a similar reduction last month, comes as good news for those people dreaming of sunnier climes. A growing number of Brits are moving permanently to Spain to escape the British weather, while others are buying a second home to spend a greater part of the year there.
Commenting on the latest reduction in interest rates, Ian Smith, Head of European Operations said:
Traditionally this is a busy time of the year in the Spanish property market and so the reduction in interest rates is excellent news for those looking to complete within the next few weeks.
'We continue to see low levels of interest rates in Spain and this latest reduction makes that overseas property even more affordable'.
Arranging a mortgage in euros is now easier than ever, as Banco Halifax has a dedicated team based in the UK who are able to provide information on all aspects of financing property in Spain. The team can be contacted on 0845 600 3603.
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