It has been appointed to provide a range of products for customers of registered users buying property in Spain.
BANKINTER, S.A., is a financial institution subject to the supervision of the Bank of Spain and the Spanish National Securities Market Commission and registered in the Official Registry of Banks and Bankers with number 30.
Mortgage Promotions passes on to registered users a commission equivalent to 45% of the commitment fee.
Commenting on the new service Nick Baxter (Mortgage Promotions Director) said, “Although many buyers of property abroad remortgage their UK residence to finance the foreign purchase this is not always possible because there may not be sufficient equity. Funding the purchase with a foreign loan may also have other benefits which might include: Euro Land interest rates are lower than those in the UK at present (euribor 12 month rate is currently 2.31%), the loan on the foreign property may be used to reduce wealth tax in the foreign Country, the loan may be used to offset inheritance tax in the foreign Country and the customer has a loan in the currency of the Country where the property exists eliminating currency fluctuation risks”.
