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I was hoping for some help.  Our financial adviser tells us that our In Debt Ration is 47% and that many banks dont look at us unless it were 40%.  This seems odd to me as our debt in the uk is approx £75,000 which is mortgage on the Uk property. we have paid the 30%deposit on the new property out of savings. we want a mortgage on the remainder We were hoping to have info an the Caja murcia mortgage as this will save us in fees. Has anyone else had this problem, and did caja murcia still accept you.  Also, n the website several of the mortgages say about interest only periods. Has anyone had an interest only period of several yeras of is it only a few months our adviser keeps telling me that he is getting the best deal for me but has not got any info on Caja murcia for us, and is simply ignoring my requests to investigate caja murcia.

many thnaks for any info as it is all appreciated

louise

Hi Louise,

You might try www.halifax.es.  We are just about to apply for a small mortgage with the builders bank but we do bank with Halifax and I think they do an interest only mortgage.  Some people prefer to do this as it can help with inheritence tax.

It's just so difficult to know the right way to go but we thought the setting up charges to be better with the builders morgage and a slightly lowere rate.

Good luck with your choice hope it works out for you.

Christine.

Hi Louise,

As you know, we are with CFP too and the mortgage they got for us was with bancaja mojacar . Initially I thought it was only interest free for 5 years but when the offer came through it was interest free for 10 years and we have a bigger UK mortgage debt than you.

Cheers

Jay

The majority of  lenders caculate 30% debt/income ratio, there are ONLY a COUPLE that will go higher, but it depends on indivdual circumstances whether they qualify. There are a handful of Interest Only products either available on full term, up to 40 years or part/part anything from 1 to 15 years.   

If Caja Murcia is offering the developers mortgage then your lawyer should be able to get the details for you, I know they have tightened their product criteria recently, as have Bancaja.   Halifax have always had very tight, qualifying criteria for their products and now due to the current financial climate all the other lenders are seeming to follow suit.

Louise

I think you are on phase 2 of Thalassa as you are talking about Caja Murcia, another bank did the builders mortgage for phase 1.

If that is the case then the person you need to speak to at Caja Murcia in Vera is Virginia Martinez Gracia.

Her telephone number is 0034 950 390575 & email is 1C6@cajamurcia.com

Regards

Noreen

Hi

Virginia has now moved to another branch but you can contact either Esteban, 6d2@cajamurcia.com, or  Sonia 9g3@cajamurcia.com at CajaMurcia.   Virginia assures us that they also are very helpful as well as  speaking English.

Hope this helps.

Hello

Our mortgage was arranged by Caja Murcia in Puerto Rey.

It's in my name only and all that I needed to provide were 3 month's bank statements and a copy of my P60. They were prepared to lend 80% of the value (although I think it's less now) but the brokers I spoke to wouldn't believe they were offering this. I actually made a point of going through it with Christina Manchon who's the manager there to confirm it was correct.

PM me if you want more infor like contact details etc.

Garethj

Thank you all so much for all the information.  I am assimilating it as we speak!

It is very kind of you all to take time to help me. Hopefully I can benefit from your information

thanks again

louise