The Polaris World golf resorts offer quality homes on new golf resorts and when it comes to bank repossessions Murcia has a lot to offer the overseas buyer.
Built between 2002 and 2008 the resorts were largely complete by the time the market turned down. However a percentage of brand new property was unsold and returned to the banks. Today’s buyer can benefit from all the facilities, golf, hotels, bars, restaurants but at half the original property price.
We can now offer apartments and villas at half their original prices. We work with several banks for bank repossessions in Murcia including Bancaja (Bankia), CAM Bank (Solvia Sabadell Inmobiliaria), Banco de Valencia, Banco Popular and Caja Murcia.
The four resorts providing the best choice of bank repossessions are Mar Menor, Hacienda Riquelme, Terrazas de la Torre and Condado de Alhama.
Mar Menor resort offers villas and apartments on the resort and also the Boulevard just outside the resort. The apartments are large and spacious with a minimum of two bedroom and two bathrooms.
Hacienda Riquelme has some excellent deals on at present with CAM bank property for sale at under half its original price.
Terrazas de la Torre offers frontline golf properties, ground, first, second and penthouse from just €60,000. These were initially sold at a starting price of €136,400.
Condado de Alhama is ideal for two and three bedroom compact holiday apartments in gardens. Perfect for families. The top floor apartments offer roof terraces, the ground floor have three bedrooms, a terrace and garden.
All of the banks in Spain have tightened their lending criteria since the banking crisis. This is a worldwide effect and not just limited to Spain. However when you are buying a property from a bank in Spain clearly the bank is keen to sell and they use the resources they best have – the power to lend – in order to make the package attractive.
For overseas buyers looking at purchasing bank repossessions Murcia is one of the best overseas destinations for mortgages, particularly for UK buyers.
Because of the choice of good quality golf resort property financed by the Spanish banks and repossessed from developers we find the banks willing to lend higher mortgages. However the important requirement the banks have is proof of income. This means payslips or P60’s in the case of UK buyers and/or tax returns for self employed. If your earnings are cash and undeclared then it is no longer possible to get a mortgage in Spain.
It is also problematic for buyers with several buy to let properties. In any of the cases please call our UK office for advice on the likelihood of a successful mortgage application.