High LTV mortgages are back
Wednesday, September 30, 2009 @ 3:29 PM
International Mortgage Brokers have announced that they are now offering Spain property loans of up to 90% loan-to-value (LTV) with rates starting from just 2.45% and low arrangement costs, when purchasing selected Spanish property owned by the banks. There are also 95-100% finance options available.
Most mortgages to buy property in Spain are normally limited to 70% of the purchase price so, making this a seemingly attractive product.
The bank owns or controls many properties in Spain and has taken the decision to sell many of them at attractively low prices due to the collapse the Spain property market, with the added benefit of additional safeguards and warranties from the banks.
The company claims that no other Spanish lender offers these unique additional safeguards and that such high loan to value mortgages are only available to the public directly through International Mortgage Brokers.
The company is also offering French property mortgages of up to 100% LTV, with interest rates starting from just 2.65%.
Source: Homes Overseas