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Mortgage advice for buying on Esuri

Mortgage advice for buying on Esuri

Old Mar 14th 2016, 9:00 pm
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Default Mortgage advice for buying on Esuri

Hi All,

I have visited CE 4 times now and I love it, I love Ayamonte too especially the square and LPA. I have now decided I want a place on Esuri and I have seen the perfect duplex 3 bed and want to buy it.

Can anyone offer advice on securing a mortgage in Spain or more specifically Ayamonte?

How does the Spanish process differ to that in the UK and what are the likely time scales and additional costs?

The property is up at €109k, am I likely to get it any cheaper or do properties sell at full value now?

Thank you all in advance for your help

Regards

David
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Old Mar 14th 2016, 10:07 pm
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Default Re: Mortgage advice for buying on Esuri

Hi and a warm welcome to the Spanish forum on BE. Myself and Fred James are the moderators for the Spanish forums whilst BEVS moderates Europe. Moderators are there to ensure that the site runs smoothly within the rules of BE. This is so that members gain the information that they are looking for and find their experiences on the forums to be friendly and worthwhile.

Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.

Please let me know if you need any further help.

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Old Mar 15th 2016, 12:15 am
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Default Re: Mortgage advice for buying on Esuri

Originally Posted by Big Dange
Hi All,

I have visited CE 4 times now and I love it, I love Ayamonte too especially the square and LPA. I have now decided I want a place on Esuri and I have seen the perfect duplex 3 bed and want to buy it.

Can anyone offer advice on securing a mortgage in Spain or more specifically Ayamonte?

How does the Spanish process differ to that in the UK and what are the likely time scales and additional costs?

The property is up at €109k, am I likely to get it any cheaper or do properties sell at full value now?

Thank you all in advance for your help

Regards

David

€109k ! Duplexes on Marina Esuri were selling at between 240k€ and 265k€ in 2007. There is a 3 bed duplex on Marina Esuri on the Fadesa bankrupt stock site at 79k€ so there may be some mileage in looking around a bit before finally deciding.


The process depends on who you are buying from, is it a private sale or a bank sale? In either event you need a good solicitor - preferably one who can speak your language so that you fully understand the process. We use Ana at A&A Solicitors (google for web site) - they have an office on the first floor of Ayamonte's only tower block near the ferry. They specialise in helping with house purchase, including getting a mortgage. [Please note: I have no commercial relationship with this firm except as a client]. It took us less than 4 weeks from offer to completion.
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Old Mar 15th 2016, 7:03 am
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Default Re: Mortgage advice for buying on Esuri

Thanks guys, i'll drop a note to A&A this afternoon.

I have had feedback from a company I found on Google called IMS. They have said to buy at €100k I will need 30% deposit plus 13% costs, that's €43k.
Is this correct?
I feel my dream may be over before its begun if that is the case.
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Old Mar 17th 2016, 7:04 pm
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Default Re: Mortgage advice for buying on Esuri

We bought our duplex thru Ana Aroujo of Inmosolspain.com. Office is first floor just outside Laguna Sq.Checkout her website. Banco popular are currently selling apartments on M.E who would be very willing to grant you a mortgage subject to status. If there are any banco pop dupllex left they should be in the low 90 euros. BUT, give some thought to when you want to use the apartment. Eg, If you want winter sun get one with a more south facing terrace as clearly a north facing overlooking the River will get NO sun in winter, etc, etc.Get back to me if you need more info.
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Old Mar 17th 2016, 7:16 pm
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Default Re: Mortgage advice for buying on Esuri

Thanks Keith - I spoke to Ana this morning. They have a 3 bed duplex property on Marina at 97k which my friend is going to check out for me tomorrow. I absolutely need South facing for beers in the sun on the terrace in March/April and October. Its unfurnished so a bit steep I think but i'll check out Fades now and see what's on offer there.
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Old Mar 17th 2016, 7:23 pm
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Default Re: Mortgage advice for buying on Esuri

The fadesa one is on Manzana 3. It IS south facing, but overlooks the internal road, not the pool hence not everyones cup of tea!! We did view it ourselves with Ana Aroujo, but was not our first choice.
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Old Mar 17th 2016, 7:26 pm
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Default Re: Mortgage advice for buying on Esuri

So it's facing Jag''s on the opposite side of the road??? At 80k it's a steel? Do you know much about the other one Ana has?
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Old Mar 17th 2016, 7:46 pm
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Default Re: Mortgage advice for buying on Esuri

Its in the little road opposite jags going up to the exit gates, hence terrace is overlooking road at 90 degrees to Jags (hola 19).Don't know what else Ana has, but there is also a biggish advertising hoarding on the side of the block at the exit. Ithink this relates to the banco popular owned ones. If you want I can get the details for you tomorrow, cant remember the promotor.
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Old Mar 17th 2016, 7:53 pm
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Default Re: Mortgage advice for buying on Esuri

I know where it is now. Thanks, not ideal overlooking the road but my prorities are
1) Bank Repossesion (I need a high LTV mortgage)
2) Vista or Marina (Walking distance to golf club & established)
3) 3 Bed (prefer not GF to avoid maintance costs)
That would be great if you could Keith so I can make sure I get the best deal. In your opinion / experience are there new ones popping up all the time or would I be lucky to find a Duplex on Marina at circa 90k and sold get in now?
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Old Mar 17th 2016, 8:03 pm
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Default Re: Mortgage advice for buying on Esuri

It does seem that prices have shot up 10k since last autumn. There seems to be a lot more interest at the moment, but imo i think you should still try to haggle the price down. I did see an agent showing some people over a duplex on M4 last saturday. That one faces east, so not bad. You get sun from dawn to late afternoon on main terrace and then mid afteroon to sunset on top rear terrace. I'm fairly certain tbat is a banco popular owned one. M4 is a very nice manzana. I overlook their pool etc. Lots of nice people on there.
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Old Mar 17th 2016, 8:13 pm
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Default Re: Mortgage advice for buying on Esuri

Hi Keith, what's M4?
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Old Mar 17th 2016, 8:16 pm
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Default Re: Mortgage advice for buying on Esuri

Sorry, thats short for MANZANA 4. This one is the next one up hill, actually the most central manzana, and barely a stones throw from the one on m3 overlooking the road.
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Old Mar 17th 2016, 8:25 pm
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Default Re: Mortgage advice for buying on Esuri

Ah - 'block 4' do you know if there is a central list if all these properties or have you got to trawl through esuri looking for boards?
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Old Mar 17th 2016, 8:40 pm
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Default Re: Mortgage advice for buying on Esuri

I'm not aware of any central list, but i will get the agent details for you in the morning. Settled down watching big bang right now. Bfn. Keith
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