|Repossessed apartments in Murcia, located in Mazarrón, just few metres away from the beach and from Paramount's new Theme Park, the first and biggest in Europe. All of the apartments have sea views and walking distance to the beach.
These apartments are sold 30-40% below market value, and have 100% finance, this mortgage is a builders mortgage that has been set up already, so there aren't any costs involved. Prices depend on the debt of each property with the bank, the prices start from 139.000 Euros
These mortgages are fixed, at 2 to 2,5% interest only for the first 3 years, and euribor + 1% for the other 27 years.
The breakdown of the mortgage figures is;
Price including V.A.T 150.000 Euros
Monthly mortgage @ 2% 250 Euros
annual 3.000 Euros
Minimum rental income : 6.000 Euros
profit per annum (min) 3.000 Euros
The purchase process is very easy, the client chooses a property, to reserve a and just needs p60, payslips, credit report and passport.
Once the mortgage is approved the client will need to come over to Spain, complete the purchase at the notary.