Hi all.

Well new on here so the following questions may be a bit old hat, but bear with me.

The plan is to sell up in blightly then with the equity (what there is left of it after the price drops lately) put some in to a house in spain and some in to a business. In the short term probably rent a house so that the business can be purchased first to get an income rolling and a house then found a bit later when the dust has settled.

So, LTV (loan to value) amounts?
I have read that you can get finance for business of up to 50%, no doubt subject to lots of things, but what is relaistic for a house? I’m thinking of 50 to 60% on a property value of between 100,000 and 150,000 euros, so nothing grand.

Got to do lots of research yet but any feedback I can get on here would be greatly appreciated.

Cheers
Ian.

Ian
Your loan to value estimates are about right but it depends entirely on your personal circumstances. The lending market is different here in Spain it is much less “the computer says no” and much more about the strength of the relationship you have with the bank branch. You can find that one branch of Barclays is very different to another.
In my professional capacity I provide independent and impartial advice for a fee, we place lots of mortgages and loans with a very wide range of lenders. If you want to discuss this further then you can contact me via linkedin.
Regards
Jeremy

Thanks Jeremy.

I would be interested to know a bit more about the services you can offer and relative costs etc. Would prefer it if you can email me direct on that. I’ve looked at the link you gave but not looking to join a subscription site which it seems to be.

ThanksIan.

IAN:

LTV vary among banks. I found one that offer me 80% LTV of the lesser of appraised value or purchase price. Financing a business can be a little tricky but if you can get into one of the ICO credit lines it might make your life a lot easier. What are you trying to do here ? I mean what kind of business.

Fabian

To do this in a perfect location for a truly luxurious home to be thinking about buying it worthwhile. If, as you say, ‘No one else ever will buy it’, the land owner to offer it at a price you can be prepared. There are other lenders. Next best is probably a credit union, but I think you are not already a member. Separate your attorney and financial risky option can arrange all kinds. Things progress, how you have termite eradication and building a full report would require a structural report. Remember that almost all the termite damage is hidden from view completely. Help needed to repair a builder quote lender will calculate risk.

Thanks for the wonderful information