Capital Raising on Spanish Property

Posted on 8 March 2012 by john


I own an apartment in Spain, value 175000 euros, no mortgage. Is it possible to raise 50000euros against the property as I need to assist my daughter with house purchase in the UK?

John

Whilst John Charcol can not advise on Foreign Currency mortgages we do have extensive contacts in the industry who specialise in this area.  They have many years experience in dealing with mortgage lenders in Spain and can also help you with the various documents required.

Be aware you will need to consider the current exchange rates for converting the funds raised from Euros to Sterling and depending on where you derive your income, there may be on going exchange fluctuations to consider when it comes to meeting the payments on the Spanish mortgage?

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage for your situation.

Peter

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.