Chiclanagir

Has anyone got one recently and what kind of interest rate did they have to pay?

jonnyx

It is nearly impossible to get a personal loan from a Spanish bank for now. You would need to have a lot of security for it, (empoyment contract with enough salary, real estate).

Chiclanagir

It is only for a small loan and we have adequate income to cover it.

jonnyx

You vill soon realise that what you think is adequate income is not the same as what they do. But give it a try, its just to speak with the banks, one by one.
God luck,

olivia

Have you looked at equity release on the property in the U.K. It is still being advertised as available here.

Chiclanagir

No, for the amount I want it wouldn´t be worth it you also have to be very careful with equity release schemes.

Madridboy

OH got a loan for €20,000 from La Caixa 2 months ago so they're starting to lend again.

Chiclanagir

Well that is the first bit of good news I have heard.

Madridboy

Good and bad, the loan came with a condition that they froze €7000 of his money in case he faulted on the loan.

steviedeluxe

Ah, the old ways, when you were expected to put down a deposit when purchasing something with a loan. I wonder if western economies would be in a better state today if credit hadn't become so easy?

Fredbargate

Yes

Madridboy

it's good that they want some securitry for the loan but if they hadn't frozen some of his money he wouldn't have needed to borrow €20,000 towards the car..........also should point out that my OH is Spanish......don't know if that does or should make a difference in getting a loan.

Chiclanagir

Can´t see the point of giving the money and then freezing it so you can´t spend it!

Madridboy

The money that was frozen was his own that he already had in his account, the money the bank lent him towards the car was €20,000. We wanted a car but didn't have enough to pay cash so borrowed a bit from the bank but as we had no colateral they wanted to freeze some of his money so if we don't pay the loan they can take the payments out of the frozen money.

Chiclanagir

Seems complicated to me. If you borrow from a UK bank or BS you borrow a certain amount as an unsecured loan which is based on your credit rating and ability to pay.