nodandcelia

We own a property in Mallorca with no mortgage. We will be resident on the island from Feb 2016 and it would help us if we could release a little equity from the house for improvements. Has anyone got info on this we wonder. Thanks

Rosemary

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.

Rosemary

Moses2013

If you are going to be resident in Mallorca, you should speak to your local bank there. Most banks would only give home improvement loans in the country you are residing, so in the UK you could just ask for a personal loan, or if you have a home in the UK release equity there.

wilsman77

Moses is spot on..... then convert your stirling and get 1.43 Euros..... happy days long may it continue.

Fred James

Equity release schemes did exist in Spain before the crash, but most were a bit dodgy. They are pretty well non existent now.

As suggested, just ask for a personal loan.