Spain’s popularity fuelled by cheap Euro mortgages and cheaper flights

The cause of Spain’s continued popularity is the low rate Euro mortgages and the boom in low cost flights. This is in accordance with the report by Banco Halifax Hispania.

According to the Spanish right man of Halifax (the UK’s largest lender) delivers figures from the recent Official Social Trends Report that boasts Spain of having 27 percent of all second homes overseas owned by Brits and also says that YouGov’s research found out that 50 percent of 18 to 29 year olds have plans of buying property abroad.

“People have now come to realize that buying property in Spain is now possible with low cost mortgages and Banco Halifax Hispania is seeing a trend to the rise of people from UK wanting to buy property in this country,” Ian Smith said, head of European operations in Halifax. Aside from being able to supply mortgages products specifically designed for UK buyers, the bank also is in direct contact with an approved panel of qualified solicitors and surveyors in the Costa del Sol and Costa Blanca regions which have local knowledge and is familiar with the experience of British customers.

For variables and fixed rate mortgages in Europe, Banco Halifax Hispania offers the security on the Spanish property – with loans available up to 70 percent of the value of the property.

Aside from this, there is also a new way in the budgetary air flight prices in helping the Spanish market to take off. The research from the OAG shows that the number of low-cost flights from Spain was 25 percent last year (an increase of 160 percent took effect from low cost operators within Spain). With this, the development of new regional airports transpired.

There is also a reported number of passenger increases from UK airports which increased to 217 million in 2004, a far cry from the 8 percent less of last year, according to the Civil Aviation Authority (CAA). The regional airports also has its shares of passenger increases, as passenger figures tripled from 1987 to 2005 and experienced 9 percent growth alone in 2004 (with an increase to 88 million passengers.)

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Spain’s popularity fuelled by cheap Euro mortgages and cheaper flights

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