Loan for Purchase
Mar 28th 2007, 10:11 am
#1
Forum Regular
Thread Starter
Joined: Mar 2007
Location: From Gandia to Budapest
Posts: 219
Loan for Purchase
Hello Nice Peeps,
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
Mar 28th 2007, 10:21 am
#2
Popping in for a chat
Joined: Jun 2006
Location: Back home
Posts: 4,573
Re: Loan for Purchase
Hello Nice Peeps,
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
http://www.mortgagingsolutions.net/
Mar 28th 2007, 12:33 pm
#3
Concierge
Joined: May 2006
Location: ex ex-pat, in Taunton
Posts: 27,211
Re: Loan for Purchase
Hello Nice Peeps,
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
Mar 28th 2007, 3:22 pm
#4
luna~sea..its a lifestyle
Joined: Feb 2007
Location: Getting In Touch With My Dysfunctional Side...
Posts: 1,926
Re: Loan for Purchase
Hello Nice Peeps,
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
Some questions for those who might know.....
1. Is it possible to part finance my purchase with a simple bank loan purely based on the value of the property....or do I need to prove income?
Here in Hungary one can purchase with just the property itself as collateral: no questions asked about means to repay.
2. Are smaller banks (in Spain) more flexible on a one to one basis than larger ones re finacing?
3. Has anyone had any dealings with Azahar Properties out of Valencia?
The reason I ask is that it would be just Sooooo much easier for me NOT to have to prove income.
I'm looking around Monserrat....anyone living around there?
Again, thanking you all in advance,
Kind Regards, Jonathan
1. No, you must show proof of income and ability to repay the loan (mortgage)
2. No, it makes no difference whether the banks are big or small. What makes a difference is if they're new or not. The new ones usually try to attract new customers, therefore offer attractive mortgages and then the other banks try to compete/match those offers.
3. Don't know anything about Azahar properties personally
Best wishes,
M
Mar 28th 2007, 3:50 pm
#5
Forum Regular
Thread Starter
Joined: Mar 2007
Location: From Gandia to Budapest
Posts: 219
Re: Loan for Purchase
Hi,
Thankyou for the kind replies.
Lionda: Just had a chat with the folks behind the link you sent....they seemed adamant that they could arrange an interest only mortgage as I already have 2/3rds of the required sum in cash. Mention was made of producing some past bank statements (not a problem)....but I'll believe it when I see it!
Thankyou all again. As I'm now kicking off the process (I've put my properties here in Budapest for sale), I shall surely have more questions requiring this here collective knowledge.
Kind Regards, Jonathan
Thankyou for the kind replies.
Lionda: Just had a chat with the folks behind the link you sent....they seemed adamant that they could arrange an interest only mortgage as I already have 2/3rds of the required sum in cash. Mention was made of producing some past bank statements (not a problem)....but I'll believe it when I see it!
Thankyou all again. As I'm now kicking off the process (I've put my properties here in Budapest for sale), I shall surely have more questions requiring this here collective knowledge.
Kind Regards, Jonathan
Mar 28th 2007, 4:53 pm
#6
Popping in for a chat
Joined: Jun 2006
Location: Back home
Posts: 4,573
Re: Loan for Purchase
Hi,
Thankyou for the kind replies.
Lionda: Just had a chat with the folks behind the link you sent....they seemed adamant that they could arrange an interest only mortgage as I already have 2/3rds of the required sum in cash. Mention was made of producing some past bank statements (not a problem)....but I'll believe it when I see it!
Thankyou all again. As I'm now kicking off the process (I've put my properties here in Budapest for sale), I shall surely have more questions requiring this here collective knowledge.
Kind Regards, Jonathan
Thankyou for the kind replies.
Lionda: Just had a chat with the folks behind the link you sent....they seemed adamant that they could arrange an interest only mortgage as I already have 2/3rds of the required sum in cash. Mention was made of producing some past bank statements (not a problem)....but I'll believe it when I see it!
Thankyou all again. As I'm now kicking off the process (I've put my properties here in Budapest for sale), I shall surely have more questions requiring this here collective knowledge.
Kind Regards, Jonathan
I was on the phone to Ian this afternoon discussing my mortgage and I mentioned that I had recommended his company to someone on here. Hope you mentioned my name. They really are very helpful. At the moment Ian is pushing the bank and the builders (we are buying a new-build) so that we can move into our property soon.
