Interest only mortgages

Happy New Year to you all!!!

Does anyone know which lenders do Interest only mortgages, I'm with Caja Murcia & from what I understand, they don't.

Thanks

Sandra

Hi    La Caixa do intrest only and they have a branch in formentera , 

Also office in London tel 02079306962

Alan

Hi Sandra we have an interest only mortgae with Lloyds TSB spain they have a branch at Zenia about 15mins drive from Rojales.

Halifax Hispania used to do a 10 year interest only followed by 15 year repayment. The nearest branch is in Torrevieja near the Park of Nations. You can apply on-line if that is easier. Your local Halifax in the UK will assist in faxing i.d.,bank statements, passports etc. You can also transfer money from Halifax UK account to Halifax Hispania free of commission with a competitive exchange rate

Hi, we have a interest only morgage with bancaja.  ( this is only for 2 years ) it then reverts back to variable. I think they may do it for up to 5 years.

Vanessa & Trevor

There's a Halifax in Guardamar. I don't know the name of the road, but it runs parallel with Lemon Tree Road.

Irene

Hi Sandra forgot to say Lloyds TSB did ours for 15yrs interest only and you can set up monthly direct debit from Lloyds UK to Lloyds Spain with no charges for transferes.

Caja Murcia will offer you an interest only mortgage for 2 years but this is only offered if you make distressed call or email to them. In other words tell them you can not afford your current payments. They do understand that the exchange rate of sterling is crippling us all and the last thing they want is a mortgage default. 

Hi does anyone know why Cajamurcia online banking web page is unobtainable ?

Is there anyone with Bankinter as there mortgage provider? I was wondering if they do a interest only mortgage? and how you go about changing you mortgage Provider

in Spain? I know its no promblem in the UK .but I have heard it could be difficult in Spain? Has anyone changed there provider in Spain I would like to here from them

                                                                     Regards Jim P

Dear All

Thanks for all your feedback.  Cajamurcia have offered us an interest only deal for a maximum of 3 years.  The notary charges however are €1,000 which the bank will add to our mortgage if we don't have it.

Still can't get to the bottom of an "insurance" payment that went out of our when we completed.  We initially had a builders mortage & have read that the insurance was a protection for the bank in case we default.  All the bank will say is that it was for life assurance but nothing has gone out since that initial payment.  Has anyone else come across this?

Thanks Sandra

Hi Sandra l think they take the payment once a year.Pat.

Hi Sandra

I cancelled the life assurance because it was 600 euros for each of us. The completion payment of (circa 1500 euros) is more of a mystery, the last time I challenged it I was told that it was bank commisions but ive never been told the same thing twice (I was also told that it was a completion fee)

This cagey attitude leads me to believe Alb when he says its "an idemnity fee, to service an mortgage default shortfall, after auction"

Im glad you got your interest only deal.