Bancaja offer gathers pace!

Well you saw it first with Compass Amazing Resorts. Last week we announced that we had teamed up with Bancaja Habitat in an amazing alliance that brings you the ability to choose from a huge range of properties in Spain, pay 15% and then NOTHING for three years.

Maybe have asked us how this works. It's quite simple. You come to Spain and choose your Spanish property, whether it's an apartment in Vera, Almeria or a townhouse in lovely Denia in North Costa Blanca or Barcelona.

You pay a reservation fee and send the paperwork to Amazing Property in Barcelona. We will put the application for the mortgage together and pass it to the bank.

Once they get the approval you pay the balance of the price up to 15% PLUS the closing costs. What are the closing costs when you buy a Spanish second home? Here they are:

Spanish VAT (Called IVA) = 7%
Legal document fees (GJD) = 1%
Lawyer's fees, if you have used one = 1%

grand total 9%.

So if you take any property from our currnent Bancaja Habitat portfolio then ALL you pay is about 24% of the price and you move in!! SIMPLES!

Any information you may need please contact us on info@amazingpropertyinspain.com or pop into any branch of Reeds Rains or Your Move.

Have an Amazing Friday!

Bank of Spain demands that Spanish banks and building societies drop prices of real estate units by 20%

In news today from Madrid, the Bank of Spain has make it public that it has demanded that come the end of this financial year, the banks and building societies holding property will have to reflect a 20% drop in value in their balance sheets.

Banks hold property as a result of purchases they make for investment reasons or due to repossessing property from people unable to pay their mortgages or other loans that may have taken property as collateral.

This spells good news for potential inevestors as Spanish banks have, to date, been reluctant to drop prices even in the face of interested buyers. The so called “repossessions” market has not truly taken off due mainly to the bank’s reluctance to accept any price drops.

“The banks are ultimately against selling at a loss. Like all investments, only when the sale is made is the loss properly reported, something that managers and share holders don’t like seeing.” Says Helen Smith, from Compass Amazing Resort’s overseas office. “However, the banks can not hold on to these properties for ever. This move by the Bank of Spain is great news for the overseas buyer and invester. It’ll free up property that to date has been too highly priced."

Also today, Spain, currently holding the presidency of the European Union, has announced a public debt of 4 billion Euros while Brussels has given details of a plan to aid the ailing Greek economy. Both of these may seem like bad news for the UK buyer of Spanish property but the expectation in the market now is that the Euro will fall against the pound. Indeed, The City of London report more than 7 billion sterling has been placed “short” against the Euro. This essentially means that the Euro is most certainly expected to drop soon. Good news for us Brits wanting a deal in Spain, or any other country in the Euro Zone!

Buen viaje!

“Free Money” offered by Spanish bank!

This amazing deal from Bancaja Habitat offers no interest or capital repayment for 3 years, a Loan to Value of 85% and even has no administration fees (except notary charges and the usual taxes).

The properties are mainly situated on the Valencia coastline and are immensely attractive to those wanting low money down deals.

Amazing Resorts has teamed up with Bancaja to offer Spanish homes or developments that they have financed. Contact us today to find out more about this incredible offer or click here for further information on the different properties available.


But why such an amazing offer? Well, many Spanish banks are “hiding their losses” by not declaring properties in negative equity therefore in a move to sell repossessed property Banjaca came up with this innovative solution to address the problem: free money!

Given the way Spanish banks, indeed ANY banks, have been over the last year or so, this move by Bancaja Habitat to help move Spanish property, can onbly be seen as positive. The overseas property market can now breath a sigh of relief as people can gain access to their dream home abroad, with a minimum outlay. Some clients have even said that it's almost low enough to put on a credit card! Your Spanish investment can now become a reality. Contact us immediately for more information or download our summary of some of the best offers in different parts of Spain.

Have an Amazing week and we look forward to giving you the keys to your new amazing property in Spain! Olé!