The ¡Estupendo! Blog Site

Ian was talking with the Director of Banca March here on the island the other day. He mentioned a great idea, which might appeal to people looking to buy here, but who are hesitating due to the poor exchange rate.

Banca March can secure a mortgage on a property, using your Sterling as security. Here’s what happens:

• You transfer Sterling into a Banca March Sterling account, which pays interest
• Your money remains in Sterling, so there is no exchange rate penalty
• Banca March grant you a mortgage on your property
• When the exchange rate reaches a level you are happy with, you make the exchange into Euros and pay off the mortgage, or part of it!

It sounds like one of those simple, but clever ideas! For more details, contact any Estupendo office.

More Snippets:

1/ Fantastic new mortgage product for people looking to move house

2/ Quick tips on building houses and extensions in Lanzarote

3/ Coffee with the bank director