Chiclanagir

Has anyone taken one out in the last six months NOT on an urbanisation?
Any problems?

Beachcomber

As far as I know there is now no mainstream bank prepared to allow a mortgage on a rural property.

Casa Santo Estevo

Well that is a lot of places that cannot be sold then, especially here in the north, Galicia, Asturias etc.

jdr

I think you will struggle to get any mortgage now, reposesssion cases in the Marbella court area have risen eightfold in the last year.
More in the Surinenglish this week.

Bri and Katee

Although ours is now 18 months old, it is on a very rural property between Fortuna and Pinoso. It could be worth contacting the Leeds Building Society, they offer a 'Euromortgage' through their branch based in Gibraltar. No arrangement fees at that time either.

Beachcomber

Bankinter was the first to avoid rural properties and most of the other banks have followed suit over the past year.

Chiclanagir

Looked at their website. No mention of rural properties but they only loan 65%
of valuation.

Chiclanagir

I have also heard that you can "take over someone else´s mortgage" when
buying their property. Has anyone else heard of this?

Dee_dee

On another forum some time back, someone mentioned that you can part ex your house, with some agents. Has anyone heard of that also?

Beachcomber

You can take over an existing mortgage but you still have to comply with all of the mortgage company's financial requirements.

bobd22

We got a mortgage with Cajamar 6 months ago on a village property no problems, I believe they lend up to 80%

jdr

You were probably some of the last in. ;-)

Chiclanagir

Just looked at their web site and they are loaning up to 80% which is good. Need to find out if they will lend on rural now if it has a castaral number and is freehold-