Ask My Lawyer in Spain - Finances

20 April 2020 | Tags: , , , ,

For our third Ask My Lawyer in Spain we covered the topic of ‘Finances’. We were joined by Alison Lowther de Cotta, Independent Mortgage Consultant, with Mortgage Matters Spain. Alison answered any questions you had about buying property with a Mortgage in Spain.

Several Experts from Currencies Direct Spain talked about all matters relating to transferring currencies around the world and making your money go further.

Questions covered included:-

  1. Are the banks working normally during the current state of alarm in Spain and are they still dealing with mortgage applications?
  2. After the lockdown if I sell my Spanish property how can I repatriate the funds back to the UK?
  3. Are the banks offering mortgage holidays for clients who already have a Spanish mortgage?
  4. If I complete my Spanish property sale during the lockdown can funds be repatriated?
  5. What about clients who are self-employed or own small businesses. Is there any financial assistance available from the banks?
  6. If I have a Power Of Attorney for my client who is selling that doesn’t include banking clauses, can Currencies Direct help with repatriation? What’s involved?
  7. What about clients who have had their mortgages approved on their property. Are they still able to complete during the state of alarm in Spain?
  8. How can I organise living funds to be sent to me in Spain from a third party outside of Spain?
  9. Are clients able to apply for a mortgage now before they have viewed or chosen a property?
  10. How can I organise payments from Spain to third parties (pensions/investment companies) outside of Spain during lockdown?
  11. What about clients who are selling their property and need to sell urgently? Is there any finance available from the banks?
  12. How can I organise international transfers without internet access during the lockdown?
  13. Could you tell me a little about lending criteria for someone who isn’t working, but holds various assets and investments? So, how would a lender consider these investments when deciding whether to grant a mortgage and would there be any loan to value restrictions? Also, how would tax residence affect a mortgage offer?
  14. Can my client cash in a euro bankers draft from a Spanish property sale in a UK bank, what’s involved and how long will it take?

Watch the recording:-

And the next Webinar

On Friday 24 April we will joined by Real Estate Agents from across Spain to talk about the current market in their part of Spain and what potential buyers can do now.

Join us

We will be joined by:

  • Steven Howlett of VIP Almeria – Real Estate – Inmobiliaria is a Member of the National Association of REALTORS® and Certified International Property Specialist (CIPS). Established since 2005, V.I.P Almeria offer Sales, Valuations, Survey, Architect plans, Community Administration, Insurance, Planning and Property Registry solutions including Land Taxes.
  • Javier Del Carpio from SANTÉ Realty Investments, Small Oasis Resort Community™ is an International Project Manager for Real Estate in Costa del Sol and Commercial Real Estate broker & Investor. He also focuses on Commercial Real Estate Projects mainly in the areas of Office, Multifamily Apartments and Retail.
  • Zoë Males of Olvera Properties specialises in helping you buy and sell property in inland Andalucia, the Serrania de Ronda, and particularly in the beautiful town of Olvera.
  • Tracey Hawkins of 5 Real Estate – a fixed fee estate agency service based on the South Costa Blanca. Incorporated in 2018 with a desire to significantly reduce the cost of buying and selling a home in Spain, our experienced team of property professionals provides a full estate agency service for both buyers and sellers. Our head office is based near Villamartin, Orihuela Costa and we currently cover along the coast from La Mata to Los Alcazares, and inland from Ciudad Quesada to Pinar de Campoverde.

The webinars are free to attend and held ONLINE via zoom. Our events are shared under our Facebook events.

The next Ask My Lawyer in Spain Online Webinar will be at 15:00 on 8 May – Topic: Property Values & Surveys.

More information on our Facebook Page. Submit any questions in confidence be included in our webinars to

Alex Radford

Written by:
Alex Radford

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