On Thursday evening, a contingent from Hamilton Homes attended a drinks and tapas evening hosted by Santander’s subsidiary UCI in the Picasso museum in Malaga. There was a lot of positive energy in the air and it was good to see a company building staff morale and relationships with other companies it works with.
UCI provide bank financing and really some of the deals we are seeing now for repossessed properties are pretty spectacular. Whilst crisis for so many out there – for those looking to buy at bargain prices and looking to cover their purchase using mortgage facilities, there are some very interesting buys. The interesting thing is that the choice of property nowadays is starting to become finance – led rather than price – led. And what do I mean by that? Well, we may have two properties on the same urbanization, one a repossession and the other a resale. The resale may be cheaper but a bank may offer only a percentage of the total in terms of financing. Whilst the other property may be more expensive, the repossessing bank may be able to lend of to 100% on the repossessed property, thus resulting in a buyer being able to buy the more expensive property more easily.
So are you searching for a property? Word of advice, look at your budget and desired financing options, then discuss this with your real estate agent. View properties once you know on which you can obtain the finance you required, not necessarily the cheapest you can find.
Then again, if you are a cash buyer – the world is your oyster!
Here at Hamilton’s we have access to both repossessions and resales. So please contact us – we would be happy to advice you as to which property is better suited to your finance requirements.