http://www.mallorcapropertypartners.com/blog/2009/02/01/sterling-deposit-mortgage-mallorca-properties/ Fri, 13 Jan 2012 14:23:16 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.mallorcapropertypartners.com/blog/2009/02/01/sterling-deposit-mortgage-mallorca-properties/comment-page-1/#comment-2 Mallorca Property Partners Weblog » Blog Archive » How to secure the best Mallorca property deals in the current market Thu, 05 Feb 2009 14:17:30 +0000 http://www.mallorcapropertypartners.com/blog/?p=7#comment-2 [...] Be in a position to buy. Obviously the more serious the vendor thinks a buyer is the more seriously he will treat them and any offer they make. Buyers who have cash, or have agreed finance in place, are obviously in the strongest position. This does not necessarily mean however that you need to be rolling in cash to take advantage of the market at the current time. Whilst credit from banks is still tight at present, they are (believe it or not) eager to get things moving and will lend money to people who can show they can make interest repayments and are buying a property at a sensible price vs. the mortgage. This later point should not be a problem at present as bank valuations are generally showing properties to be a higher value than they can be bought for! There is one mortgage product in particular that allows you to purchase in Euros without exchanging the bulk of your Sterling until the exchange rate between the two currencies improves. You can see more about that on our web site here – Sterling / Euro mortgage product for properties in Mallorca – and also on this blog posting – Illustration of Sterling / Euro Mallorca property mortgage. [...] [...] Be in a position to buy. Obviously the more serious the vendor thinks a buyer is the more seriously he will treat them and any offer they make. Buyers who have cash, or have agreed finance in place, are obviously in the strongest position. This does not necessarily mean however that you need to be rolling in cash to take advantage of the market at the current time. Whilst credit from banks is still tight at present, they are (believe it or not) eager to get things moving and will lend money to people who can show they can make interest repayments and are buying a property at a sensible price vs. the mortgage. This later point should not be a problem at present as bank valuations are generally showing properties to be a higher value than they can be bought for! There is one mortgage product in particular that allows you to purchase in Euros without exchanging the bulk of your Sterling until the exchange rate between the two currencies improves. You can see more about that on our web site here – Sterling / Euro mortgage product for properties in Mallorca – and also on this blog posting – Illustration of Sterling / Euro Mallorca property mortgage. [...]

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