Banco Halifax Hispania Euro mortgage rates lowered

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Banco Halifax Hispania Euro mortgage rates lowered

Thu 18th Jan 2007

An interest rate reduction has been applied to the Banco Halifax Hispania Euro mortgage range with immediate effect, undoubtedly providing new year cheer to Brits with property in Spain.

The new rates available to customers will be 4.633 per cent for loans that are up to 60 per cent of the property value and 4.733 per cent for loans to the value of 70 per cent.

Many people are set to benefit from the new reduced rates and research undertaken by Mintel discovered that around 800,000 Brits own a house abroad, highlighting the level of popularity of second homes in the sun.

Ian Smith, head of European operations at Halifax, stated: "When it comes to owning that holiday home in the sun, Spain is certainly the favoured location with British people, so this latest reduction in interest rates is really good news."

British customers using Banco Halifax Hispania services have the benefit of conversing with English speakers in all of the 19 braches currently situated in Spain.

According to Spanish property website Kyero, the average property price in Spain decreased 1.7 per cent during 2006 compared with the previous year.

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