The True Cost of Mortgages in Spain
A few years ago the range of mortgages available in Spain was relatively limited - however the rate of interest was also low so this was not such an issue. However, over the last couple of years, the alarming increase in mortgage rates appears to have helped speed up the introduction of a variety of new mortgages such as: multi-currency mortgages, 50 years mortgages and long term interest-only mortgages to name but a few. While beneficial to consumers, it also makes choosing a mortgage more difficult. Assuming you fulfill the basic criteria required, you then have to decide which of the myriad of interest rates and conditions are best for your circumstances. Researching all of the offers available can be a daunting and time-consuming task. Not t0 mention the little problem of the language barrier. Financial jargon can be difficult to understand in your own language, let alone in a second language. You can of course go to a mortgage broker, who will give you the benefit of their ...