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21 - 27 June 2018
NEWS Photo credit: Hash House Harriers
44 EWN
How much mortgage can I get? Mortgage Expert by Sara
WHEN looking to buy a property in Spain, securing a mortgage would probably be one of the first steps in the process for most people. Bank in Spain is a mortgage broker specialised in expats and international clients buying a house in the sun. “‘How much mortgage can I get?’ is normally the first question we get,” Sara Stannard says. She works as a British Client Advisor in the mortgage broker, Bank in Spain, specialised in expats and international clients buying their holiday home in Spain. “The maximum you can get in a mortgage, would be 70 per cent of the purchase price excluding taxes and fees. “The best conditions you get are on mortgages up to around 60 per cent of the purchase price.” Sara continues, “Different from the UK, Spanish banks do not include the costs related to buying a property nor the costs related
to taking out a mortgage. For several years after the financial crisis, many Spanish banks were reluctant to offer new mortgages. This has now changed and the banks are once again open for lending out money. “We are not yet back to the mortgage boom we saw before 2008, but now the competition is fierce between the banks on good mortgages,” she continues. The number of mortgages signed in Spain has seen a steady increase since 2014. Only in 2017, the increase was close to 10 per cent as compared to the previous year. Despite this increase, we are still a long way from the mortgage boom of 10 years ago. According to the Spanish National Statistics office, the number of mortgages signed in 2017 was only a mere 25 per cent of the mortgages signed in 2007 - at the top of the boom. The conditions offered to expats vary surprisingly between the banks, but in some areas they are similar. Interest-only mortgages and 100 per cent mortgages are a thing of the past. “Currently, 100 per cent mortgages are only offered on certain bank repossessions with no option of selecting the lender.”
HARES AND HOUNDS: Organisers hope to build on last year’s event which was a huge success.
Running in red MIJAS HASH HOUSE HARRIERS will be hosting their fundraising Red Dress Run on July 22. This year, the group is raising money for the AVOI Charity, which is based in the Children’s Oncology Hospital in Malaga. AVOI (Association of Volunteers of Children’s Oncology) aims to make the hospital stay of children and their family as pleasant as possible. All money raised will go towards a new Bone Marrow Transplant wing in the hospital
so a parent or guardian will be able to stay near to their child during their ordeal. This is a huge goal for AVOI and they hope to make a significant dent in the total they need to raise. The walk will leave from Malaga Port at 2pm. Before the walk begins there will be freshly cooked paella available from 1pm. Once the charity walk begins at 2pm it will weave its way through the streets of Malaga with volunteers shaking cans and singing as they
collect donations. There will be snacks and refreshments for all participants en route. The fee to take part in the event is €5, with all proceeds going to charity. The Hash House Harriers (HHH or H3) is part of an international group of non-competitive running social clubs. If you would like to sponsor the event or get involved please call 639 851 773. Remember, all participants for the run must be in dressed in red, and ‘yes’ that includes the men!