Looking to buy a home in Spain? Try before you buy!
Clydesdale and Yorkshire Banks have launched a new addition to their property service for those looking to buy a home in Spain.
The banks have joined with Caja Mediterraneo (CAM Bank) to offer UK buyers the opportunity to rent a property in Spain before buying it, with the added benefit that rent can be discounted from the purchase price.
With around 1 million ex-pats already in Spain, a further 50,000 heading there each year and the Foreign & Commonwealth Office suggesting that 4 out of 10 over 55s want to emigrate, the sun, sea and sangria are obviously a considerable lure to many Brits. However, the reality is not so idyllic for many with an estimated 1 in 6, who emigrate, returning within the first two years.
Buy with confidence
Clydesdale and Yorkshire Banks' have added a new option to their Spanish property service that allows potential buyers to rent before they buy on certain properties. This means they can experience having their own place in the sun, without committing to buy. Rental contracts can be flexible and vary between 12 months and seven years. Subject to terms and conditions, if they choose to buy within the first two years, all the rent paid will be taken off the purchase price.
Stress-free buying
The cost of Spanish property has fallen considerably in the last few years and discounts of up to 50% on previous asking prices or current valuation are now available. Clydesdale and Yorkshire Banks, with CAM Bank, are able to help customers with more than just the mortgage; providing support for buyers throughout the process - removing many of the barriers they can face when purchasing abroad.
The service provides all the benefits of dealing with a UK High Street bank with the added flexibility and experience of a Spanish partner and UK-based lawyers specialising in the Spanish market.
The Clydesdale and Yorkshire Bank Spanish property service includes:
Find your dream home in Spain - search hundreds of Spanish properties online
View properties in Spain - let us know when you're visiting Spain and English speaking contacts will arrange viewings during your stay
A choice of mortgages - choose either a sterling mortgage from Clydesdale and Yorkshire Banks or a euro mortgage from Caja Mediterraneo (CAM Bank)
Legal services - provided by a UK based solicitor with experience in Spanish property
A Spanish bank account - with online banking in English
Home insurance - buildings and contents cover for your property in Spain through CAM Bank
English speaking contacts - to help you through the viewing and buying process
Help moving in - Mediterranean will take care of all the organisation and administration on moving day (such as picking up keys). They also provide an excellent after-care service to help you settle in.
Steve Reid, retail director, Clydesdale Bank said: "With prices in Spain coming down so much there are potential bargains to be had for those looking to buy. However, many are intimidated by the idea of dealing with a foreign house buying process where different rules and language barriers can add to the stress and may want to see how Spanish property prices fare.
"Our new package of services gives buyers the opportunity to take advantage of low prices in Spain by taking the stress out of the process and removing some of the risk with the opportunity to rent first."