Struggling First Time Buyers In The UK - Look At Spanish Property!

by Richie Aubin - Date: 2007-04-27 - Word Count: 718 Share This!

With the average UK property price now reaching 100,000 pounds, rising mortgage rates and a tax mad new Prime Minister just on the horizon could it be time for young Brits looking to get on the property ladder to start looking else where?

More often than not, grown adults are still living with their parents due to the struggle which is not just affecting a small majority; no this is a national wide problem which does not look like ending in the near future. While the richer are getting extremely richer, property investment in the UK is the fastest and most secure way of investing and saving money in the UK alone. Second home owners owning a second property in the UK has increased ten fold leaving thousands and thousands of empty homes un occupied which could be used by persons not on the property ladder in the UK.

As richer are getting richer, the poorer are getting poorer. Salaries may increase however not to the rate of property prices and over the top mortgage rates, leaving thousands penniless month after month when the bills need to be paid at the end of the month. They are the lucky few that have managed the impossible so some of becoming a first time owner in the UK.

So what is the easy or sensible option for potential first time buyers?

Spain offers everything in the property market the UK simply can not, lower deposits to hold properties on the market - generally anything from 3,000 Euros which is just over 2,000 pounds sterling. Longer mortgage schemes which benefit thousands of home owners in Spain, enabling residents more time to repay their mortgage and being able to enjoy their lives instead of a life of hell paying off a mortgage. Also mortgage rates are lower in Spain which obviously saves you more on your repayments of your mortgage and you know the bank is making less out of you for their own pocket!

Yes salaries in Spain are lower, however some jobs will pay the same as you earn in the UK even good jobs that are available will pay a mortgage and an excellent quality of life which the UK just simply can not offer the youth of the UK. Property prices in Spain are a lot cheaper than Britain; a normal two bedroom apartment on the Costa Blanca south near Alicante on average will cost you 100,000 Euros which in pounds is roughly only 68,000 pounds sterling. Near the coast, amenities, nightlife, in an up and coming region, with plenty of opportunities for new businesses and employment to cover gaps in the market, excellent services such as health care and education, near all year round good weather and sun are just a few reasons for the influx of ex-pats leaving the UK for a better life in Spain.

The Spanish property market has also seen a drop in prices in many areas as the construction just never seems to end, investment is also high on the agenda and readily easy for people to get involved in with excellent deals on new build properties (off plan property) and with a larger slice of Spain's coastal population moving further inland to cheaper and larger properties. Spain does hold a policy of only handing out two mortgages per person, however if you have a mortgage in the UK it will not affect you over here.

Buying a property in Spain is easy and open to all to who are seeking to get their foot on the property ladder in Spain for the first time. Real Estate agents in Spain offer some great deals on property for sale, bargaining is normal here and you could stand to save a lot more off the original price of the owners starting asking price. Also due to the fierce Spanish Real Estate market and too many Estate agents competing against each other, you will find companies do what ever they can to push the sale of a property through even dropping their commissions!

Spain is a buyers market, you want the property and they want you to buy it and it is as simply as that. So for all you potential first time buyers still struggling in Britain, don't you think it is time to look else where?

Spanish property for UK first time buyers.

Related Tags: spanish property, uk first time buyers, cheap spanish property

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