Unfortunately the economic crisis caused by COVID-19 has affected the mortgage sector in Mallorca, Menorca & Ibiza. Although the Spanish banking sector assures that the granting of mortgages has not stopped, it recognizes that the number of applications has decreased. Mortgage industry sources say that because of the current situation some consumers are postponing purchase […]Continue reading
Can you buy a home without a mortgage? In Spain the most common practice is to obtain a mortgage loan when you need financing for the purchase of a property. However, in other countries such as France this purchase can also be made with a personal loan. “It is true that in Spain it may seem […]Continue reading
Homeowners and businesses who have problems paying their mortgage this month can take advantage of the mortgage moratorium approved by the Government. However, in order to benefit from this measure, several conditions must be met: you have been made unemployed or have lost 40% of sales, have earned less than 1,613.52 euros as a family […]Continue reading
Due to the difficulty in accessing credit alongside the current economic and employment situation in Mallorca, Menorca & Ibiza, many people who were thinking of buying a property end up living on rent. For many of them, renting with an option to buy is an increasingly common solution, since it allows them to invest the […]Continue reading
If you’re thinking about selling your house or renting it out to a new tenant in Mallorca, Menorca and Ibiza, then it’s definitely within your interest to check the documentation and paperwork of your property and see if you have a valid Energy Efficiency Certificate (EEC). Without this certification you are not legally able to […]Continue reading
At the end of year, the time comes to make payments into pension plans, but also to make extra payments to our mortgage if we have money left over. When paying off our mortgage there are two variables that must be taken into account when considering the advantages of making an early payment: financial benefits […]Continue reading
