Survey : Fractional Owenership

There has been increasing talk and interest in the idea of Fractional Ownership and we feel it is time we explained exactly what this entails. We have also created a survey so that you can give us your opinion on Fractional Ownership.

You can do our survey here:

http://www.quibblo.com/quiz/axaCU2X/Fractional-Ownership-Is-it-for-you

Euro Zone Mortgages and 3 Month Euribor Record!

3 Month Euribor rate at an all time low!

Last Tuesday, the 14th July 2009, the three-month Euribor bank-to-bank euro lending rate fell to a new record low, breaking through the 1% barrier for the first time ever.

This has a substantial impact on the cost of borrowing in popular destinations such as Spain and Portugal.

Portuguese and Spanish banks generally base borrowing on the “three month Euribor rate” which in turn is underpinned by the prevailing European central bank base rate. The three month Euribor rate is currently at 0.97% at the current time

The bank will then allocate a spread of anywhere between 0.4% to 1% on top of the Euribor rate for the duration of the mortgage, depending on the loan amount and the “loan to value” ratio.

What is a "spread" you might ask. The spread is the mark up the bank give you on top of Euribor. So a spread of 1% means, if Euribor is at 1%, your mortgage payments will be 2%.

To give an example of how the decline of the 3 month Euribor rate has impacted mortgage costs in Spain and Portugal, following is a comparative simulation based on borrowing Euro 200,000.00 in July 2008 against July 2009 on an interest only basis:-

In July 2008 with the 3 month Euribor at 4.25% plus the bank spread of 0.7% equals a total of 4.95%. Therefore, for a loan of Euro 200,000.00 at 4.95% this would equate to a monthly interest payment of Euro 825.00

In July 2009 with the 3 month Euribor at 1.00% plus the bank spread of 0.7% equals 1.7%. Therefore, for a loan amount of Euro 200,000.00 at 1.7% this would equate to a monthly interest payment sum of Euro 283.00

This comparison clearly shows an incredible saving of the same mortgage facility of Euro 542.00 per month!

What are you waiting for???

Albufeira, Portugal – a top worldwide tourist destination!

Trip Advisor, the travel expert site with more than 10 million members has recently undertaken a survey on the best worldwide destinations for holidays and Albufeira, Portugal came in third place. Albufeira beat off competition from Corfu (Greece), the French Riviera and Cyprus just to name a few and was only beaten by the Canary Isles and Amalfi in Italy. Trip Advisors members describe it as a “modern city resort” and together with the beauty and diversity of the beaches and exciting nightlife its easy to see why!

Amazing Resorts On the road!

This weekend marks the beginning of our summer road shows. Amazing Resorts, in partnership with Your Move will be travelling around the country offering advice and information on properties overseas.

The first weekend we will be in Coventry and Droitwich. For venues and times please click here.

This weekend, apart from the usual range of fantastic properties and great bargains overseas, we are presenting a unique opportunity in Portugal's beautiful Algarve - Eden Resort.

Close to Albufeira, and 30 minutes from Faro aiport, Eden Resort is at the forefront of modern resort development. Made up of apartments and townhouses set in marvelous grounds with 5 outdoor pools and one indoor pool with turkish bath and sauna.

The resort also has a chidren's club and infant park, poolside snack bar, top quality restaurant and clubhouse. Eden Resort also has its own private beach bar so if you feel you can drag yourself away from the extensive gardens and facilities, why not relax on your own private bit of beach?

We were very impressed with the quality and design of Eden Resort and that is why we have decided to place it as our first "Featured Devlopment" for our first weekend on the road.

Many people have asked us why we want to do these road shows, feeling the overseas property exhibition may have died. We understand the sentiments behind this but believe that the public have a genuine interest in receiving information from experts in a slightly more informal environment.

"It's much more reassuring for customers to meet in a well known high street real estate office," says Helen Smith from Amazing Resorts, "Here they can receive professional advice and information for their investment overseas".

If you wish to join us you can find all the details on our ads via the site or you can contact Your Move in Droitwich or in Coventry.

See you this weekend!