New Mortgage Products Now Available in Spain
Summary
Players like GE Capital, GMAC, HBOS group trading under Banco Halifax Hispania and Nat West are actively promoting their products providing a much wider choice with features designed to meet a clients changing life circumstances.Often they will find compulsory products attached to the loan without being previously informed and have had at no stage the terms of the mortgage provided to them prior to arriving at the Notary to sign.They provide offers of lending before completion in the language of the applicant, and make efforts despite the lack of regulatory requirements to ensure clients are properly and appropriately informed.Often they will find compulsory products attached to the loan without being previously informed and have had at no stage the terms of the mortgage provided to them prior to arriving at the Notary to sign.The new lenders to this market have recognised these issues exist and have taken a more protective and communicative approach to their clients needs in comparison to the historical attitude taken by Banks in Spain.They provide offers of lending before completion in the language of the applicant, and make efforts despite the lack of regulatory requirements to ensure clients are properly and appropriately informed.