Spanish media starts to talk about brits bankrupt

Spanish Property Insight Forums Spanish Property Forums Real Estate Topics, News & Discussion​ Spanish media starts to talk about brits bankrupt

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    • #53956
      Anonymous
      Participant

      Today I have seen an article in the newspaper La Verdad of Region de Murcia about the broken british dream of a life in the sun:

      http://www.laverdad.es/murcia/20080518/economia/quiebra-sueno-britanico-20080518.html

      I have advised some months ago about the problems of the likely fall of the pound in the property market driven to bristish expats combined with overvalued properties and rising interest rates in the euro zone.

      I hope to have saved some families to these type of situation with these advises.

      For investors with cash now there is a great time with a lot of bargains on the market.

    • #82665
      Anonymous
      Participant

      Only cash buyers will get the bargains.

    • #82668
      Anonymous
      Participant

      Really? Surely people looking for lower percentage mortgages, and with good financial status will benefit also.

    • #82669
      Anonymous
      Participant

      Mortgages are not easy to get at the moment, even for low risk people. Euro zone interest rates are rising too as stated by Peter.

    • #82670
      Anonymous
      Participant

      Well, I guess it must depend upon status. I cannot say that I have had any negative feedback from the lenders I have approached. Maybe they’ll pull the rug at the last minute.

      As, for interest rates. Yes, they are going up but really they are not that high IMHO. It just seems an issue for borrowers who are too highly geared.

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