CONTACT HELP

Has anyone had a quote from Banco Popular to take on the builders mortgage? I have requested some info but wondered how others have got on with them or if there was better deals from the likes of Halifax or Barclays.
We are supposed to be completing on our Penthouse in block 13 mid November but trying to put them off to mid December so most wil probably be ahead in the completions process. Any info would be welcome.

Cheers
Steven 

We are completing in block 11 on the 23\10\08 and are awaiting an offer from the Banco Popular they have promised our solicitor an answer this week, I won't hold my breath, the process so far as been long drawn out.

Tom and Jane

Hi,
We are completing on our apartment in block 11 on 22 Oct. We looked at the Banco Popular offer but it didn't match our needs and they seemed poor at communication. We have opted for a UK mortgage for simplicity.

Kev1,

Totally agree your comments about Banco Poplar - poor communication & totally inflexible.   After studying the Spanish market options & concluding there was very little benefit in a Spanish Mortgage (particularly with the additional legal fees) I too opted to use my existing UK borrower (Nat West).  All done over the phone in a few minutes & can draw down when needed.  No exposure to exchange rate fluctuations, no valuations required & no hidden costs.  As you say - simplicity

Of course, it is each to his own & everybody's requirements are different, but the days of the big advantage in having a Euro mortgage are sadly gone now.

Nick

Got confirmation today from Elisa of Banco Popular that our application to take over the builder’s mortgage has been accepted on the following conditions

Interest rate
First year: 6.3%
Afterwards: Euribor+1%

You need to have the following products:
Debit and credit card
Home insurance (Allianz)
PAE (Savings account) with a minimum of 301€
Set up three direct debits

Opening fee:0.9%


Tom and Jane

Hi hendert,

What are the 3 Direct Debits for and when are you expected to set everything up in relation to your completion date?

Cheers

Iain

Midge,

The explanation regarding the 3 Direct Debits was electricity gas, etc. The current account has a 6 euro per month charge.
Regarding completion of the mortgage we are wait on our solicitor to have a look over the terms and conditions of the mortgage.

Tom and Jane