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Hi Guys - When some of you were applying for mortgages earlier on, I remember a few people saying they had gone through a mortgage broker. I have trawled through these threads but can't find the specific posts I'm looking for. Seem to remember Underhand being one of them? Just wondered who you used and what the experience was like? Was it worth using them? Did they come up with a mortgage that was as good as the developers mortgage? Would appreciate any help

Have sent you a  message
Regards
Mandy

 

Hi All

We too would be interested in similar information about mortgage broker

Regards

Phil

This message was last edited by PGM on 8/2/2008.

Hi,

I went through mortgage4spain.com spoke to Stefan Onsmark excellent communication and made everything so much easier they also charge a fixed fee so you know where you are up to I think its about 368 euros - well worth it

Jackie

Hi

Have just joined forum following call from Polaris advsing me that my property at Condado De Alhama will be ready for completion sometime between 22 Sept and 17 Oct. Bit surprised as intial indication was July 09 and then Jan 09. Flapping a bit to get mortgage and other matters in place. Any advice on lenders much appreciated. Have completed form for Barclays - recommended by Polaris and am looking at Caja Murcia.

Many thanks,

Paul

 

Hi Paul

Welcome to the forum to you both. Look at the post from the past and you will see lots of information on mortgage info and providers from a UK bank point view that have Spanish banks as well you have Halifax and Barclays for example.

Numerous Spanish banks to look at lots of which you will see mentioned in old threads if you look back. I am assuming you mention Caja Murcia as they are the bank that is already financing your property? (Enabling you to go for builders mortgage) if so a number of us are waiting for information from them, which they say, they will have in the next week or so? PW gave me contact details for them which is:

CAJAMURCIA TELPHONE NUMBER: 00 34 968 585211 OR 00 34 968 585716

Contact person: Mrs Bienve.

Again in old posts information about mortgage brokers such as: 
Marbellamortgages, mortgages4spain and murcia mortages the list goes on.
None of the above are recommendations, just trying to give you an idea of options. 
Suggest you look back at old forum posts and threads on this and the main forum for detailed information happy reading.

Completion has come far quicker than any of us expected but by keeping up with all the posts put on the forum by all the excellent people on this forum you will be as up to date as possibly as to what is happening.

Regards

Phil

Hi Phil,

Many thanks for your prompt response. Will take a look through old threads for other lenders. The Barclays option seemed ideal as it was good to talk to an english guy to discuss rather than those with the obvious language barrier. However, naturally keen to get as low a figure as possible so will do the suggested research. In the meantime will get in touch with Caja Murcia for the necessary forms.

Thanks again Phil.

Regards,

Paul

 

Hi Paul

Halifax is worth a look from the English lender point of view as you can setup to transfer money from uk Halifax to Banco Halifax with no charges, exchange rate slightly less than some of the money agents like Monycorp but not bad and very convenient, you can do all applications in uk with uk staff and staff in Spanish branches also speak good English plus you can operate account on the internet.

Again this isn’t a recommendation just information, I am not be evasive just still not made final decisions myself as yet. If you come up with any info that may be of interest to others please post it on the forum.

Regards

Phil

If anyone is looking for a Spanish based English mortgage broker I can reccomend Patrick Robinson at Marbella Mortages, he has taken all the grief and stress out of this for us - he often posts on the forum as "smiley" or PM me and I wil send you his contact details. 

Rgds
Mark

Just had  quote from Polaris of 3500 Euros to cover notary fees, registry etc for completion of our Apartment in Los Naranjos. Does this seem about right?

Hi Paul & Jane,

Yes, around the same as mine was 4200 which included solictor's fee, the solicitor said that it was a rough estimiate and that any refund would be send to me in 4 months time as they haden't got price for registry and notary. Hope this helps!

HI Paul and Jane,
      We took out a 60% builder's mortgage with Cam bank, euribor +1%, total 6% for 1st 6 months and revised every 12 months after that. You do not pay the mortgage notary, registry charges etc with the builders mortgage but will with Barclay's, if you get a lower rate with Barclay's you will have to weigh it up which one's best in the long run. Cam charged 0.75% set up fee (615 euro's).
      We use Cam only for our mortgage account and have opened up a Banco Halifax account for direct debits such as electric, water,community charges etc. You can open up this account from the UK.
                                      Chris and Tracey.

Paul & Jane I'm in Los Naranjos Jardin4 and was given the same figure.

Dan

 

Hi Paul & Jane

You would need to check who your builders mortgage is with as it may well not be with CAM, they finance a lot of Jardins de Alhama but other banks are financing a lot of Los Naranjos Jardins and therefore you wouldn’t gain the discounts associated with this from CAM, but may well with the bank that is financing your apartment?

Phil

Hi

I have bought a property on Naranjos - Jardines 8 and am getting a mortgage through Banco Valencia for the final payment.  Has anyone else used this bank and if so, can you let me know if they were ok to do business with and are they prompt in their dealings?

Thanks.

Malcolm

Hi Malcom, I'm in the same jardin in Los Naranjos as is phil (PGM).. Awaiting my solicitors recommendation so will ask her to do some digging on Banco Valencia. Also assessing Cam Bank, Caja Murcia and Barclays. Supposed to be completing mid Oct, but trying to get extension to end of Oct as completion date moved quite a bit to the left.

Paul

we got our mortgage trough lexus broker. they found us a mortgage in now time. sarah is very helpfull. ask for her...  
lexusmortgages  . com

Hi all,

my builders mortgage is with Popular Bank.

What additional costs do you pay with the final amount if you take out the builders mortgage? Do you have any?

Is 60% the maximum mortgage they will lend?

Francis & Sarah.
Los Naranjos, Jardin 4.

This was CAM's offer on my 3-bed Jardine, costs should be similar.

I’m very pleased to inform you that your mortgage has been approved with the conditions agreed:

 

Builder’s mortgage:

 

Amount:82.080€

 

Length: over 30 years with 5 years interest only.

 

Initial interest for the first 6 months:5,75%

 

1st revision of the interest: 6 months after completion date taking into consideration EURIBOR + 1,10 % (it would be reduced if you contract some products with us, find enclosed document called "how to get a better interest")Then, revisions every year taking into consideration EURIBOR + 1,10%(it would be reduced if you contract some products with us).

 

CAM fees: 0,75% ( 615,60€)

 

Redemption fee: 0,5 % for any amount for the first 5 years and 0,25% from the 6th year on.

 

 

I remember you the costs for the purchase:

 

 

- Murcia treasury/Stamp Duty (1% of the value declared on the deeds) =1.368€

- Notary = 1.500 €

- Land registry fee =  528€

- management fees = 264€

 

Costs for the first mortgage for  82.080€:

- Murcia treasury = 0 €

- Notary = 0 €

- Land registry fee = 0 €

- management fees = 0 €

 

 

Total CAM fees: 615,60€

 

 

Following the information of your “Purchase Agreement with PW”, the outstanding balance with Polaris is €87.825,60.

 

So, to be able to complete we need in your account for the completion:

 

- 82.080€ (total amount of the mortgage)

- 87.825,60€ (final payment)

-     615,60€ (total CAM fees)

-      1.368€ (Stamp duty for the purchase)

-      2.292€ (Notary, Land Registry and management fees for purchase)

________________________

      You will have to transfer at least 10.100€ in your CAM account before your completion date. I remind you that this is just an estimation, and you should take into account other costs that you could have for your compleition, as solicitors fees, etc

Hi Shampers,
                         With you being in banking, I wonder if you could answer me a question or two.
1)Do you know what euribor = right now ??
2)When was the offer of 5.75% quoted to you ??
I myself am a 3 bedroom purchaser,with CAM, and going to sign up next week. It seems to be that all the recent posts I have read lately are quoting figures around 6.4+ % and I fall into that category. Not sure there is any alternative other than accept as-is at this late stage but don't like to feel I might be getting ripped off. Is there a good reason that these figures seem to have crept up over recent weeks i.e. euribor rising ?
Everything else fees wise is pretty much in line with the figures you display.

Regards,