Loftusrd1980
Established Member
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- May 2, 2007
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I am hoping to buy a property here in the UK next March and with my partner have saved the 10% + deposit now required.
My question is that we also own a property over in Spain, the value is roughly 40000 euros (market is terrible at the moment and it has been on the market for a while. We are in no rush to sell so wouldnt take any less than 40000) we have a mortgage with Santander for 26000, payments per month are 175 euros so not much.
Do we need to delare to a bank here in the UK that we own the property? if we do will they take in to account the equity and not be concerned that we have a debt over in Spain or will they factor that in to the ammount they will lend us?
Thanks
My question is that we also own a property over in Spain, the value is roughly 40000 euros (market is terrible at the moment and it has been on the market for a while. We are in no rush to sell so wouldnt take any less than 40000) we have a mortgage with Santander for 26000, payments per month are 175 euros so not much.
Do we need to delare to a bank here in the UK that we own the property? if we do will they take in to account the equity and not be concerned that we have a debt over in Spain or will they factor that in to the ammount they will lend us?
Thanks