I have seen a dream place where I have always wanted to have somewhere in Spain. I could come up with a sizeable deposit but am basically resigned to the fact that this will remain a dream for now, plus with the euro strong against the pound it is a bad time to buy.

But I wondered, are there novel ways of raising capital for this kind of thing? Besides crime and more work? I heard about kickstarter, but why would anyone want to lend you money to indulge your holiday fantasies?

Tell people that you are a exiled African prince and need money to free up your bank accounts. And that you will then pay them back 5x what they lent you*

*except you won’t! Free money! 😀

Sell yo ass down the docks

why not a mortgage?

Is this for a business, or just somewhere to live?

Best way is a euro mortgage from a Spanish bank/lender. Organising this can be tricky with your uk / £ earnings. You may find a lender like Sandander could help.

I would generally advise against buying a Spanish / € property with a UK / £ loan as you are really exposed to exchange rate changes.

Why don’t you try contacting @spekkie from this thread ? linky

If the equity is there and the income available raise money on a UK property to cash buy abroad. No UK banks offer a mortgage in this country secured on a property in a different country as it is different purchase laws. We only just manage in England to lend for Scotland!! Some UK Lenders will not even lend on UK islands. Isle of Man, Jersey etc. Santander UK will not lend in Spain.

Bank job. You can start as a clerk and work your way up. If you work hard within a few years you could be the bank manager, then you’ll be in a much better position to commit white collar fraud.

No UK banks offer a mortgage in this country secured on a property in a different country as it is different purchase laws

Is that so? Weird!! I bought a place in France with a mortgage from a Dutch bank and it was quite straightforward I guess the idea of Britain being the world traders is just a little bit of self delusion!!

Mortgage?
https://www.bbvauk.com/personal-banking/mortgages-and-loans/mortgages/spanish-mortgages/

A mortgage can be arranged in the UK but it will not be a UK mortgage

Nobody will give you money on kickstarter for it, unless there is something very compelling or unusual about your pitch. However the concept of “crowd” or “collective” funding is not totally crazy. If you can find like minded and similarly affluent people to each own a share of the property. You’d effectively be setting up a time share but on terms that the members define rather than some investment shark. you would need legal advice to frame an agreement though. Obviously the cash requirement would be less with more people but the arrangements will be easier to organise with fewer voices.

A couple of colleagues at work have just sold their house to in investor & are now renting it, with the money theyv’e made on the sale they bought a place in Spain outright. They retire next year & can live out there on his Navy & prison pension & her prison pension.

@genesis respectfully that’s not correct, depends who you bank with. High street types maybe not. I mentioned Santander as they may introduce to a local office in Spain or have special facilities/products given they are a Spanish Bank

@essel As an aside Portugal seems very popular at the moment, cheaper to buy and live than Spain and there is some kind of deal where you pay no income tax on your pension. They are keen to attract money/retirees into the country.

Might be worth getting in touch with Keith Vaz 🙂

I work for Santander as a Mortgage Adviser

prison pension

You get a pension for going to prison?

Where do I sign up?

Why is that guy busking with someone in a burka?