Halifax reduces rates on Spanish property

Halifax reduces rates on Spanish property

Banco Halifax Hispania (BHH), the Spanish arm of Halifax plc, has reduced its mortgage rates with immediate effect.

Mortgage rates of 3.265% for loans up to 60 per cent and 3.515% per cent for loans up to 70 per cent of the value of the property are now available.

This comes as good news for those people dreaming of sunnier climes. A growing number of Brits are moving permanently to Spain to escape the British weather, whilst others are buying a second home to spend a greater part of the year there.

Commenting on the latest reduction in interest rates, Ian Smith, Head of European Operations said, “We are continuing to see low levels of interest rates in Spain which makes it an excellent time to finance that dream home in the sun. As we move into generally what is a busy house buying period, this latest reduction in interest rates makes that overseas property even more affordable".
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