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Hello,
I’m looking into arranging a Lifetime loan for my parents. Can anyone recommend a bank/lending institution that offers Lifetime loans? They are in Andalusia near Mojacar. Thanks!
Richard
Richard, I don’t know of any lenders in Spain who offer life-time loans. The mortgage market here is nothing like the UK. You can try a mortgage broker, maybe better luck with one of them.
Mark,
As you have noted, the Spanish mortgage market is very different to the U.K. market.
However, this sort of subject, (equity release/lifetime loans), is likely to become more frequent as time passes. (Two posts in the last week or so, and we are all getting older).
Would it not be a good idea to ask one of the friendly lawyers on here to post a few lines on the subject ?
I understand that Spain has a system similar to the French “viager” process, which can be viewed as an equity release system, through a combination of part capital and part future income. From what I have read on the subject, the process is managed by insurance companies in Spain.
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