More Britons than ever are looking to move abroad and Spain is one of the most popular destinations, according to a recent survey. Over half of people taking part in the survey said that they had considered emigrating and 13 per cent said they were looking to make the move in the near future.
Leeds Building Society has offered a Euro mortgage to UK residents, UK expatriates and Gibraltarians looking to purchase a holiday home, a second home for retirement or a permanent residence on the Costa del Sol since October 2005. Following customer demand, the Society has now opened the product up to the Costa Brava, Costa Blanca, Canary and Balearic Islands.
Phil Coombes, corporate sales manager at Leeds, said: "This is the first Euro mortgage we have offered and we knew it was extremely competitive. As a result, we have seen the volume of business increase significantly.
"We also received a number of enquiries from clients looking to purchase outside the Costa del Sol. To meet this demand we have set up the infrastructure to offer the Euribor lifetime tracker mortgage in the areas people are looking to buy.
"The tracker product is currently only 3.94 per cent, there is no higher lending charge to pay and no early repayment charges, so the client has complete control of their mortgage.
"The feedback we have had so far is that this is an excellent product combined with a fast and efficient service and I am confident this product will continue to be very popular."
