In this current economic climate, every prospective buyer of Spanish property is looking for a great deal. That much is probably true of buyers worldwide at the present time.

But people also need to get real. Continue reading »

Anybody who has recently tried to obtain a mortgage, either a mortgage in Spain, or a mortgage in their home country, will tell you that it´s not the easiest of processes anymore.

During the peak of the Spanish property market, lenders were falling over themselves with offers of easy and cheap credit to overseas buyers. The banks were so hungry for business in a rising property market, that they were prepared to base their levels of lending on the property valuation, rather than the property price. Any market is based on greed and fear, and if we are now in the midst of fearful economic times, then it´s certainly true that at the market´s peak, greed was the overriding factor. Continue reading »