UK Mortgages for Property in Spain

Summary: Guide to getting the best UK mortgage to buy a property in Spain for Britons thinking about buying Spanish property

As a nation there is nothing that can dampen the British love affair with Spain – it’s where Brits most want to holiday in Europe, it’s where Brits most want to retire to in Europe and it’s also where most Brits who plan on buying a home abroad are still drawn to year after year - and so in this article we’ll be looking at UK mortgages for property in Spain.

If you want to own a holiday home in the Spanish sunshine, an investment property on the Costas or indeed a new home in Spain, the very first thing you need to think about and know more about is how you’re going to finance your purchase.  If you get the money facts and figures right up front and before you even begin viewing property, the entire purchase process will be so much simpler.

As a British citizen you have the right to own property in Spain and if you’re a home owner in the UK one way you can go about raising the money to buy Spanish property is by taking out a second or a re-mortgage on your principal residence in the UK.  This is usually only a route taken by those who cannot get UK mortgages for property in Spain though because it can sometimes work out more expensive and it certainly means all your property bets are hedged on your UK house.

The good news is that there are other options available and one of the most attractive ways that Brits have to get a mortgage to buy Spanish property is through approaching a lender like Barclays Bank International which has both a strong local presence in Britain and a strong local presence in Spain.

Barclays Bank specifically offers mortgages to Brits who want to buy property in Spain as well – and the mortgages they offer are priced and calculated in euros with interest rates linked to base European rather than sterling rates.  All this makes so much sense when you realise that Spanish property is sold in euros, historically speaking base euro interest rates have been lower than sterling rates and also because it prevents the buyer wearing the risk of currency fluctuations when sending the mortgage amount from the UK to Spain to secure the property.

Barclays have more branches and experts in Spain than any other UK based bank which means their coverage is broad and their staff are incredibly well experienced in terms of helping Brits raise UK mortgages for property in Spain.  So if you want to draw on the expertise of Barclays Bank staff, find out all about your options, the types of mortgage available to you, the amount you can borrow and how much it may cost you, you should click here, complete Barclays’ short form with your details and questions and then relax as Barclays call you back and walk you through every single financial and practical aspect of getting a property in Spain as well as maybe even moving to live in your new Spanish property.

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