Brexit affects UK buyers in Spain
Concerns over outcome of Brexit on UK economy and low pound seems to be putting off some UK buyers and borrowers in Spain.
The last few months have seen UK applicants for mortgages in Spain drop due to uncertainty over Brexit. One of the key reasons being the level of the pound and how this has impacted on the total price being paid.
Visa issues and drop in pound main reasons
Other concerns include visa issues, which are unlikely to be onerous and prevent UK residents making the most of a holiday home, and ability to long term retire in Spain.
Scandinavian and Belgian borrowers reap benefit
New regulation which has affected other nationalities like those residing in Middle East is a positive for other borrowers like Belgian, Swedish and German buyers who earn there income in Euros and other Scandinavian buyers who are seen as stable and reliable payers by the Banks.
IMS montage information services has seen an increase in other nationalities and a decrease in last few months of UK loan applications.
Read the full article :- European non resident borrowing Spain
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