site
Print-friendly version | You are not logged in. Click here to log in.

Spanish Banks


You can view our web site in the following 10 languages
English
  Español  Deutsch  Français  Nederlands  Dansk  Svenska  Nosk  Russian   Suomi 



In Spain it is much like banking in the UK all those years ago when you could actually sit down with your bank manager and have a conversation! Rather than being rerouted to a call centre on Mars.

Banks have not yet bought each other out, merged or joined forces, so prices for financial solutions are still competetive.

When purchasing a property abroad we advise that you open both a Sterling and a Euro account. As you will be buying your house in Euros you will need to transfer the money from Sterling into Euros at a given point. You will normally get a much better exchange rate from Sterling to Euros from a Spanish Bank than in the UK

In order to get the best rates directly from the bank if your money is inside the country in your sterling account, then you can simply fax a confirmation to the bank authorising the transfer into your own Euro account at the point when you decide the rate is in your favour. Rather than waiting several days for a transfer, as some UK banks have been known to do, the transfer is instantaneous, thus securing your favourable rate.

We recommend you choose a Bank whose staff all speak fluent English and who have a telephone and internet banking in English.

For Spanish Mortgages go to the separate page marked Spanish Mortgages.

See some of the links below for up to date financial information.

SPANISH BANK RE-POSSESSIONS

Hot Properties in Spain.Com are in regular contact with all the main Spanish banks and we have access to many Spanish properties that have been re-possessed and are now being offered for sale with 100% mortgages. If this service is of interest please let us know your wish list and we will search all the current properties that are currently being offered from the banks that will match your criterian and produce a short list for you.

Although bank re-possessions can present bargains and should be considered we should point out that in many cases they are not the bargains they seem. Whilst the 100% mortgage appears attractive it can disguise the fact that the property may not be in the best location or the at the best price.

The majority of bank repossessions are for properties that were bought at the top of the market (high prices) and which have now dropped considerably in value and will not have any equity for the forseeable future. The most attractive properties are often not released to the public.

To be sure that you are buying at the best price our service includes a search of the other properties in the same area so that you can compare prices and values.