Buying off-plan with a Bank Guarantee in Tenerife

Something that came up recently with a client of ours who we were arranging a Spanish Mortgage for: Upon checking the documentation on the off-plan property there was a discrepancy in the price. the price on the purchase copntract was €4,000 higher than the price the property had originally been advertised for. I asked my… Read More

Buy direct from the owner? Great idea or not so clever?

Buying direct from the owner is one way many purchasers choose to buy property in Tenerife. There are a number of advantages: You speak directly to the owner, not through an intermediary You can arrange your own visits to suit your schedule – not the estate agents The price may be a little lower –… Read More

Estate Agents Commission – are YOU paying too much???

Estate agents in Tenerife are commission based, most people are aware of this. What may come as a shock though is that this commission is not fixed at any level and there is no-one imposing a maximum amount. The way it works is like this: A seller approaches an agent and asks them to market… Read More

Mortgages in Tenerife – reduce your payments by half

Mortgage rates in Tenerife look set to drop following the recently announced ECB (European Central Bank) rate cuts on 4th December. The ECB cut the base rate from 3.25% to 2.5% as a measure to lower inflation across the 15 countries that use the interest rate. It is the largest rate cut since the inception… Read More

Bars for sale in Tenerife, Be very careful!!!

Bars for sale in Tenerife! A popular advertisement all over the internet and a popular search on the internet – Bars for sale in Tenerife…. Many expatriates dream of relocating to Tenerife, maybe buying a bar in Tenerife or doing some part time work – just enough to be “comfortable”. They figure a nice bar,… Read More

Spanish Currency Mortgages in Spain and Tenerife

As Tenerife is part of Spain, property in Tenerife is priced in Euros. Something that continually crops up is the subject of  Spanish Currency Mortgages and Multi-Currency mortgages in Spain. This is a complex subject and there is a lot of mis-information surrounding the topic. To clear things things up, advice from our Tenerife Mortgages… Read More

Tenerife Property – Buying with Spanish Mortgages pt 2

If you are able to add the mortgage clause to the contract – your money is no longer at risk should the banks let you down at the last moment or should the valuation come in low or the bank decide they do not want to lend against that specific property etc. So now the… Read More

Tenerife Property – Buying with Spanish Mortgages pt 1

Many non-residents looking to purchase holiday homes in Tenerife with to do so with a Spanish Mortgage. Since the credit crisis back in 2008 this has become a lot more difficult than it used to be far as banks reduced their LTV offerings from upto 100% right back to 70% maximum. The whole process takes… Read More