Hot Properties in Spain.com
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Banks
http://www.hotpropertiesinspain.com
09:26 06-Sep-2010
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.
