# buying a property in barcelona



## diatonicbreks (Aug 18, 2009)

hi all,

Me and my partner are looking now to buy a property in barcelona. We were looking to buy it now and then move in next year at some point. My partner is from barcelona but has been working in london for four years, and now we have decided we want to move permantly to barca. Our problem lies that getting a mortgage from the u.k they will only give us a holiday home mortgage at 65%. So then we tried in barcelona and they have said the same thing as we are not currently residents in barcelona. Does anyone know of anyone who has been in the same or similar situation , any help would be much appreciated . Also i am knew to the forum and it looks like it has a wealth of information for people. great website. i did try to post an intro to myself but the thread seemed to be closed so hello all !!!


----------



## Expat Ben (Jul 28, 2009)

diatonicbreks said:


> hi all,
> 
> Me and my partner are looking now to buy a property in barcelona. We were looking to buy it now and then move in next year at some point. My partner is from barcelona but has been working in london for four years, and now we have decided we want to move permantly to barca. Our problem lies that getting a mortgage from the u.k they will only give us a holiday home mortgage at 65%. So then we tried in barcelona and they have said the same thing as we are not currently residents in barcelona. !



I'm no expert on such matters, but have you looked into buying off-plan as there must be loads of not quite finished properties with 100% finance due to a lack of buyers. I think the phrase in Spanish is "Obra Nueva"

From what I gather the 100% finance is possible due to developers striking a deal with banks in an attempt to shift their unsold newly built properties

Maybe someone who knows more can clarify what I've said.

Ben


----------



## jojo (Sep 20, 2007)

When we tried to get a mortgage from the UK, they turned us down flat saying that they dont give any loans on properties not in the UK (in case they need to repossess I guess) We did get a couple of offers in Spain (we decided to rent in the end anyway), but due to the credit crunch, I dont think many of the Spanish banks lend to "foriegners" at the mo, altho if you keep trying I'm sure you'll find someone willing to lend, but again, due to the credit crunch you probably wont get anywhere near 100% they're all too scared, especially as property prices over here are predicted to fall significantly over the next year or so

Jo xxx


----------



## mike kelly (Aug 12, 2009)

jojo said:


> as property prices over here are predicted to fall significantly over the next year or so


do you have a source for this prediction?


----------



## jojo (Sep 20, 2007)

mike kelly said:


> do you have a source for this prediction?


Not on me lol!!Altho its pretty well documented!? If you look thru the posts on here there are several reference links tho! Steve Halls posts tend to have a lot of info on house price predictions, state of the spanish economy etc.. I'll see if I can find em when I get a minute

... Of course thats if you believe all the so called predictions.... quite frankly I think a crystal ball would give you a more accurate view with any of it right now!!!!

Jo xx


----------



## diatonicbreks (Aug 18, 2009)

thanks for all youre replys its all much appreciated. We may have had a bit of luck today , as my partner is spanish barclays said they would do it as a resdient loan at 80% so we may have a breakthrough !!! the property is new so maybe its worth us checking again with the builder to see if they can do anything better. But so far and the only bank out of what seems like hundreds that will take it seriously is barclays. thanks again for all youre replies i will keep you updated incase anyone else can benfit from this thread .

joe


----------



## diatonicbreks (Aug 18, 2009)

diatonicbreks said:


> thanks for all youre replys its all much appreciated. We may have had a bit of luck today , as my partner is spanish barclays said they would do it as a resdient loan at 80% so we may have a breakthrough !!! the property is new so maybe its worth us checking again with the builder to see if they can do anything better. But so far and the only bank out of what seems like hundreds that will take it seriously is barclays. thanks again for all youre replies i will keep you updated incase anyone else can benfit from this thread .
> 
> joe


i should point out that this is barclays es not the uk one.


----------

