Scottish Widows Own Overseas remortgage launched

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Scottish Widows Own Overseas remortgage launched

Scottish Widows has introduced a new remortgage product to the market aimed at UK citizens who are planning on purchasing property in Spain.

The Scottish Widows Own Overseas remortgage package enables customers to choose from a series of Spanish mortgages as well as taking advantage of services that will take them through the buying procedure.

Research undertaken by Datamonitor in the 2004 Buying Property Abroad report shows that over half a million Britons were found to possess a Spanish holiday home, pointing to a large target market for Scottish Widows to aim at.

Gordon Bowden, business development director at Scottish Widows Bank, stated: "Despite the significant size of the market, remortgaging isn't common in Spain - largely due to a lack of attractive remortgaging packages from lenders."

"Customers will also benefit from the familiarity of dealing with a UK based lender who will help to navigate them through every aspect of the process," Mr Bowden went on to state.

Scottish Widows has formed part of the Lloyds TSB Marketing Group since 2000 and was established as the first mutual life office in 1815.

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