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.
Jun 2, 2009 · jeremyaskew
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
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