The increasing attractiveness of Spain as a location for Brits looking to buy a second-home or a buy-to-let investment, or simply to retire abroad.
Park Row’s Spanish Property Service – which has been set-up in conjunction with mortgage packager EM financial – offers a straightforward solution for those looking to buy a property in Spain. The service includes the provision of specialist conveyancing facilities and, of course, lending if required. Park Row has established a partnership arrangement with Spanish lawyers with offices who have English-speaking specialist staff. Currently, there is a selection of seven Spanish lenders to provide mortgages, including Solbank, BBVA, Barclays and Banco Halifax Hispania.
In line with Park Row’s service in the UK, the emphasis is on speed and efficiency to provide potential purchasers – via their Park Row adviser – with a quick response to their enquiry. Generally, Park Row will provide an Agreement in Principle within 24 hours, enabling the would-be purchaser to make an offer on the property of their choice knowing that the mortgage is available. A free information pack is also provided to help purchasers make sure they get it right first time.
The growth in the purchase of Spanish property by Britons is set to increase with figures from a recent Datamonitor report indicating that an estimated 37 per cent of second homes owned by Britons outside the UK are in Spain and 36 per cent of tourist housing in Spain is owned by Britons.
Talking about the launch of the service, Kevin Paterson, Managing Director of Park Row Independent Mortgages, said:
“Buying a property can be a daunting prospect in your own country – let alone abroad. This new service will help purchasers through the process by providing them with information and advice, and – most importantly – mortgages and conveyancing from trustworthy sources who speak the same language.
“We intend to monitor the success of this service over the coming months, the next logical step is to provide a similar service to those wishing to buy in other parts of Europe.”
