Mortgage question
#1
Just Joined
Thread Starter
Joined: Jul 2015
Posts: 19
Mortgage question
I have inherited half a property. Just wondering if I could afford to buy the other party out. I would need a mortgage of around 50,000 euro to do so. I have the funds to pay for taxes etc. The property is legal and urbanised. Does anyone know how much it would cost per month. I am 55 years old. Just wondered if anyone else has obtained a mortgage at this age and how long for. Yes I know go to the banks and ask but just wanted to hear about the experiences of others first. I am self employed here in spain been resident for 14 years. I already have a mortgage on another property and also own a further property which i rent out.
#3
Forum Regular
Joined: Feb 2011
Location: Sheffield, UK and La Safor, España
Posts: 207
Re: Mortgage question
I took out a mortgage at age 60 in the UK to buy the house I now own in Spain. £60,000 over 5 years at 3.65%. Basically I was paying back £1000 a month for 60 months. Have now paid it off and own the house in Spain outright. Best money I ever spent. Good luck with your own plans.
#4
Re: Mortgage question
I have inherited half a property. Just wondering if I could afford to buy the other party out. I would need a mortgage of around 50,000 euro to do so. I have the funds to pay for taxes etc. The property is legal and urbanised. Does anyone know how much it would cost per month. I am 55 years old. Just wondered if anyone else has obtained a mortgage at this age and how long for. Yes I know go to the banks and ask but just wanted to hear about the experiences of others first. I am self employed here in spain been resident for 14 years. I already have a mortgage on another property and also own a further property which i rent out.
#5
Just Joined
Thread Starter
Joined: Jul 2015
Posts: 19
Re: Mortgage question
thank you for replies
#6
Just Joined
Joined: Aug 2017
Posts: 2
Re: Mortgage question
I took out a mortgage at age 60 in the UK to buy the house I now own in Spain. £60,000 over 5 years at 3.65%. Basically I was paying back £1000 a month for 60 months. Have now paid it off and own the house in Spain outright. Best money I ever spent. Good luck with your own plans.
#7
Re: Mortgage question
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
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