Reply To: Mortgages in Spain

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OK. so your client may only work part time. Why no pay slip or have records of payment?
Is it cash she is paid and is it declared 100%

You client owns 2 properties outright, total value 365,000€. Does your client use both or is there a rental from one perhaps, which could be included as registered income?

“Even though she is “equity rich” – the banks needed proof of earnings.” Does that mean you consider the bank to be out of order in protecting investors and savers interests?
Should they lend to anyone who does not have proof of income to support the loan?
Assuming the business is less than say 70% the value of the properties, and considered very profitable, why not consider offering the premises as collateral?
Or, if you consider it a fail-proof venture, why not fund the acquisition against the deeds, yourself.

Katy, certainly agree with you there. More often than not, people use brokers when failed elsewhere and it is their last option.

“a good broker can get better terms than a bank is allowed to offer over the counter. ” and that is one that dates back to double glazing sales people, and any other sales who use whatever words necessary and in the end, they convince themselves.
A good risk to the bank will get good rates and possible better than brokers could offer.