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As the Pound continues to perform poorly against the Euro,
agents selling property on the continent are examining several ways of
combating the problem and making their portfolio more attractive to buyers.
Last
month the Pound fell against the Euro to its lowest level since the single
currency’s inception in 1995. It has since strengthened a little and currently,
£1 will only buy around €1.26 compared to roughly €1.50 just 12 months ago.
To
put this in context, a property for sale in Spain worth €200,000 will now cost
a British buyer £160,000 compared to around £133,600 this time last year.
There
are some “Special Currency Deals” one reads about in the media whereby an agent
explains how brilliantly perceptive he has been by buying euros in advance last
year, has put them in the bank, and now wishes to share his good fortune with
the client.
Maybe it is true but we have always been strong believers in “There
is no such thing as a free lunch”.
I don’t think that buyers are that naïve.
NOW FOR THE GOOD NEWS!!
Property4Abroad
have just signed contracts with one of the largest banks in Europe and three of
the largest developers in Spain
to provide our clients with the opportunity to buy quality property without any
need to exchange pounds to euros!!
On chosen developments we can now offer our
clients 100% mortgage that includes all purchase costs. The only money that our
clients have to find is the initial reservation deposit. Once they have
reserved a property they will be contacted by one of our panel of lawyers to
discuss the mortgage options and paperwork required.
At no point will our
clients be asked for any additional funds. We do not operate on a broken
promise.
The deal we have signed is unique in our industry and is in no small
part due to our sister company in The UK. Being the largest mortgage broker in Europe is a position earned on the back of lots of hard
work and a well regarded reputation. We have some great property in the right
location, at the right price.
So much so that the bank has consented to advance
our clients the full purchase price plus all involved costs. These 100% finance mortgages will not last
forever. We anticipate that banking laws will be amended to make fully financed
property a thing of the past. It is my opinion that we will have only until the
end of this year to make the most of this fantastic opportunity.
The prices we
have negotiated are well below market value. Our clients do not have to convert
pounds to euros and lose out on the currency deal. Moreover, our clients win again if the pound
reverts back to the usual rate against the Euro.
By Steve Lee,
Sales Director Property4abroad
www.property4abroad.com
0034 677 861 040 or 0034 951 317 333 |
