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Buying second home in Spain - best mortgage setup

1 reply

whatsthepointanyway · 09/03/2022 22:23

I'm thinking about buying a flat in Spain in a year or two and will need a small mortgage - what's the most typical setup? Do people get additional mortgage in the UK, or take out a local mortgage? My salary and savings are all of UK-origin, so I would think it's easier to get a mortgage here, but then the mortgage would need to be secured on a property abroad. I guess I couldn't just borrow more against my UK property and use the money for a property abroad though?

OP posts:
Labradooor · 11/03/2022 17:21

I bought in France - but before Brexit - used the international services of a French bank so mortgage is in euros. Having a mortgage in euros means transferring money over and the ups and downs of the exchange rate.

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