The banking institution interest
on international mortgages decreases
People who are looking to buy property
abroad namely in countries such as Spain have been told that banking
institution Banco Halifax has reduced its interest rates when
homebuyers are applying for a international mortgage.
As there has been a large change, those
who want up to 60 per cent loan-to-value on a home must pay a
repayment sum of 4.633 per cent to Halifax (Spanish branch).
However, Homebuyers who are looking
to purchase a mortgage up to 70 per cent loan-to-value will be
able to get a 4.733 per cent interest rate.
Mintel a consumer researcher group
found that 4 in 10 Britons who have a property abroad or are thinking
about buying a foreign property choose Spain as a ‘must
buy’ top ten place.
Head at Halifax Ian Smith said that
interest rates would make many more mortgage holders look for
a international mortgage.
He said, "When it comes to owning
that holiday home in the sun, Spain is certainly the favorite
location with British people, so this latest reduction in interest
rates is really good news."
As information from the news,
Leeds Building Society has finalized that it is in a position
to start offering international mortgages and a place such as
Spain to the people in Ireland.