Optimate Consulting Ltd

It’s a challenging time in every property market around the world
You may not be able to go view properties, but a lot of estate agents offer virtual tours of properties so the groundwork can be done ready for when physical viewings are allowed once more
The overseas property market is still open for business and many overseas mortgages lenders are still operating although with a reduced service and getting a mortgage approval is still possible, but valuations will need to wa...it until lockdowns are lifted and completion will be delayed so clients may need to seek extensions on their purchase agreements
At present the lenders in Spain, France & Portugal haven’t made any changes to their lending criteria and have maintained the usual maximum Loan to Values unlike some lenders in the UK which is a positive for people looking for a dream home in the sun
If you have thinking of buying a property overseas, its always a good idea to have looked at what the mortgage options are prior to committing to the purchase of a property as you may not get any deposit you have paid back if unable to obtain a loan
If you have clients looking for a mortgage in Spain, France, Portugal, Turkey or USA we can help. email mark@vci-network.com
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For the next few months, it’s a changing world.
For a lot of people working remotely is a very different experience but here at VCI we have been doing it for many years so it’s business as usual. For the banks we work with they are all open for business with many adopting remote working policies but processing timescales may be slightly longer
While making a final decision on a dream home in the sun may be difficult as people are unable to visit the properties now is the tim...e the time you can do the groundwork ready for when the world returns to normality. What things could you be doing?
• Research the areas you are interested in online. Consider things like distance to the beach, shops, banks and local laws you should be aware of. What are the transport links like? • Look at your finance options, check your affordability and maximum loan amounts this will help guide what your maximum purchase price is • Short list properties you are interested in which you can follow up once you are able to travel again.
By taking the time to do the preparation you will be in a much better position when the time is right for you to make you dream purchase whether that is in the next few months or in 2021 / 2022
We can help arrange mortgages for residential purchases in Spain, France, Portugal, Turkey & USA for more info email mark@vci_network.com
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Housing market in Portugal stays strong
Portugal is a country famed for its very beautiful & scenic landscape but what many people don’t know Is just how varied the country is. The huge diversity in areas offering sandy golden beaches, mountain ranges & rural living as well as vibrant city life in areas such as Lisbon & Porto. With Portugal, there really is something for everyone!
Portugal’s property prices continue to rise, fuelled by surging demand as well as improved econo...mic conditions. Property prices in Portugal rose by 7.82% during 2019, up from year on year increases of 5.39% in 2018, 3.03% in 2017, 3.85% in 2016, and 4.06% in 2015. In fact, it was the highest growth in more than a decade.
All regions of Portugal have experienced significant house price falls during the last decade. And despite some recovery in 2009, house prices started to fall again in the last quarter of 2010. Prices only began to recover in Q4 2014, after 13 consecutive quarters of year on year house price declines
Portugal is expected to remain one of the hottest property markets in the region, with financial database Trading Economics predicting house price increases of about 5% this year.
Lendig criteria for Portugal Up to 70% LTV Minimum loan €100,000 Maximum Term 30 years must end by age 75 Repayment mortgage only Affordablity Calculation
There are some amazing rates fixed rates available in Portugal. • 10YFR: 1.9% • 15YFR: 2,1% • 20YFR: 2,15% • 25YFR: 2,4% • 30YFR: 2,6% Variable & mixed rates products also available from 1.39%
If you or your clients are looking to buy a property in Spain, France, Portugal, Turkey or the USA we can help arrange the mortgage, email mark@vci-network.com
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Turkey is to scrap visas for UK and EU tourists from next month.
The Turkish government made the announcement on Thursday saying the move was aimed at increasing its “tourism potential”.
British visitors to the country currently have to pay $35 ( £27) for a visa online which allow stays of up to 90 days in a 180 day period.
... A statement issued by Ministry of Foreign Affairs said: “As of 2 March 2020, Turkey has decided to exempt visa requirements for the members of the European Union Schengen area, Austria, Belgium, the Netherlands, Spain, Poland as well as the United Kingdom citizens for touristic travels to Turkey for every 90 days within 180 day period.
“This step aims at increasing our tourism potential with these countries as well as further developing our trade, economic and cultural relations.”
Around 2.3 million Britons visited Turkey in 2018, according to the UK Foreign Office.
With access to affordable properties in Turkey easing travel to the country can only help the holiday home market.
If you or your clients are looking for a mortgage in Spain, France, Portugal, Turkey or USA we can help. Email mark@vci-network.com
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Non-Spanish buyers accounted for 1 in 5 Murcia property sales last year
Figures released last week by the country’s registrars confirmed the degree to which the Costa Calida is reliant on Non-Spanish buyers.
The registrars reported that almost 1in 5 (19.97%) of all sales were to foreign buyers the 4th highest in the 17 regions of Spain behind the Balearics (29.4%), the Comunidad Valencia (26.2%), & the Canaries (25.8%)
... Given the annual sales total of 16,640 properties implies that non-Spaniards purchased over 3,300 homes in Murcia area in 2019 at an average of 9 per day. Historically Costa Calida has a big proportion of British buyers with house prices being affordable for second homes.
It is generally expected the number of Brits buying Spain could fall with the uncertainty of its future with the EU but with 2020 it could be the opposite as British people seek to secure rights in Spain before the end of the transition period
If you have clients looking to buy in Spain France, Portugal, Turkey or USA and need a mortgage we can help, email mark@vci-network.com
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6 weeks into 2020 and so far, this year we have seen a massive increase in enquires from people looking to buy overseas property compared to this time last year. We don’t usually see this level of enquires until the spring holiday season starts and people are on holiday and looking at properties.
For the last few years BREXIT has been the biggest thing stopping people taking the leap until they could see what was going to happen. Even though the full details aren’t in place p...eople now seem ready to start looking for their dream home in the sun.
From the enquiries Spain has been the most popular country which isn’t a surprise with good weather and great transport links for most regional UK airports. France is the second most popular country of interest followed by USA, Turkey and Portugal.
Mortgage Brokers are usually the first port of call from clients looking for an overseas mortgage and in most cases, they can’t help which is where Viva Costa comes in to help the broker in arranging the mortgage.
If you have clients looking for a mortgage for a property purchase in Spain, France, Portugal, Turkey or the USA email mark@vci-network.com to find out more about how we can help www.vivacostainternational.com
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Where to buy a property abroad in 2020
With the Brexit done & exchange rates forecast to improve we know there is a lot of people sitting on the fence that will now start to look at their overseas purchase , but where will they look?
France... New properties continue to be built and purchased, with Mortgages available at around 85% LTV, it’s the country which requires the least deposit
Portugal The Algarve, Lisbon and the Silver Coast remain popular, with mortgages available up to 70%
Spain Spain remains as popular as ever, with new developments being built. Mortgages are on offer up to 70% loan-to-value. The Canary Islands and the Balearics are popular, too, with loan-to-value rates similar to mainland Spain
USA The most popular states/areas are still Florida, California and New York, with continued interest in Colorado, Texas and South Carolina. Mortgages are available at 70% LTV or up to 75% in Florida.
If you or your clients are looking to buying in Spain, France Portugal, Turkey or USA and need a mortgage we can help, email mark@vci-network.com
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French Fixed Rate Reduction
Rates across Europe are historically low especially compared to the UK with longer term fixed rates (20 to 25 years) in a lot of countries coming in under 3% and variable rates being linked to the 12 month Euribor which is currently in a minus at -0.248% so it encouraging when we see a further reduction in some fixed rates
In France the 20 and 25 year fixed rate have just been reduced by 0.15% and the 15 year fixed rate by 0.10% which is fantastic ...news for anyone buying in France
15 year fixed rate now 2.10%
20 year fixed rate now 2.25%
25 year fixed rate now 2.35%
Although Spanish fixed rates are higher, they are still very competitive with 30 year fixed rates starting from 2.85% and 25 year mixed rate products starting from 2.79%
If you or your clients are looking to buying in Spain, France Portugal, Turkey or USA and need a mortgage we can help, email mark@vci-network.com
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Congratulations to Newcastle City Council for achieving number one In the Stonewall 100 Top Employer Index it’s a massive achievement for them and the City

Things to look out for when buying property overseas
Buying property overseas is usually more complicated than buying locally. You’ll need to consider a number of risks and might need to work out how to get a mortgage for a property abroad.
• Tax - make sure you account for all the tax you’ll be liable to pay, both in the UK and in the country where you have the property.
... • Check the paperwork – make sure that you have all the necessary permissions, licences and planning consents before you sign any form of contract or agreement.
• Exchange rate changes – even a small change to the exchange rate could drastically affect the value of your purchase or your mortgage payments. This could make a property – or your mortgage repayments, unaffordable overnight.
• Beware developers and the hard sell – don’t succumb to heavy pressure to sign up with a deposit before you’ve had a chance to think carefully and get independent advice and make sure a mortgage is available for your purchase
Always seek legal advice from a lawyer who is independent of everyone else involved in the deal including:
• The seller • Developer, and • The estate agent
Ensure your lawyer is fluent in both English and the local language, and that they understand property law in the country where you’re buying plus how it relates to non-residents.
If you or your clients are looking to buy a property in Spain, France, Portugal, Turkey or USA and need a mortgage, we can help, email mark@vci-network.com
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Qualifying Criteria for overseas mortgage
Overseas lenders use a debt-to-income calculation as the basis for deciding whether applicants will qualify for a mortgage. This means that your monthly debt commitments, including the new mortgage, must not exceed a given percentage of your net monthly income.
The typical percentage is between 30-40% depending on the country & bank. Here is a very basic example of how the calculation works for an employed applicant whose only debts a...re a repayment mortgage on their main residence & a credit card:
Applicants earns £3,000 after tax per month 35% of £3,000 = £1050
less UK mortgage of £500pm & Credit Card £100pm = £550pm
So, they have the equivalent of £550 per month they can “afford” for the new overseas mortgage.
The size of mortgage available would then be determined by the term & rate available to meet the £550pm affordability
There are many other variables to consider, but this gives a very basic idea of how the banks assess the applicants for the mortgage.
We can help asses affordability & obtain decision in principle for client along with helping through the mortgage process in Spain, France, Portugal, Turkey and USA. We’ve been helping brokers & their client for over 15 years. Email mark@vci-network.com
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SPANISH MORTGAGE MARKET IN Q4 2019: low rates and a cooler market characterise last year
12-month Euribor, the base rate used to calculate interest payments on most mortgages in Spain, came in at -0.261 as a monthly average in December compared to -0.129 the same a year before, meaning it was more than twice as low over 12 months.
As a result, borrowers in Spain with annually resetting Spanish mortgages based on Euribor would have seen their repayments fall by around €7 per m...onth for a typical €120,000 loan with a 20 year term.
Euribor slipped into negative territory back in February 2016 because of the ECB’s policy of quantitative easing to keep the Eurozone economy afloat. Rates appear to have turned a corner, and started to creep up towards positive territory, but it could take years to get there. The cost of borrowing to finance a home purchase in Spain will remain low for the foreseeable future.
The number of new residential mortgages signed was up 8.1% in October to 24,296 new loans, according to figures from Spain’s Association of Notaries. That’s the third consecutive month of increase, & suggests the Spanish mortgage market is back on its growth path after the turbulence caused back in June and July 2019 by the introduction of a disruptive new mortgage law intended to protect borrowers that made it harder to get a mortgage . The average new mortgage loan value for buying a home was €132,489 in October, down 3.9% in a year.
If you or your clients are looking to buy a property in Spain, France, Portugal, Turkey or the USA we can help arrange the mortgage, email mark@vci-network.com
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Portugal’s had a fantastic 2019, with plenty of great developments for anyone looking to move or invest there, & this looks set to continue this year
The country placed third in the most recent Global Peace Index, & continues to welcome new residents from across the world. Many attracted by pragmatic initiatives such as the Golden Visa & the Non-Habitual Resident tax scheme. These can provide practical and financial benefits to accompany Portugal’s wonderful climate and frien...dly society.
After several years of runaway growth, Portugal’s property market has seen more of a sense of calm in 2019. However, calm doesn’t equate to stagnant. Sales have remained steady, but it is fair to say that supply & demand have come into better alignment. This makes for a less pressured house search for those in the process of moving to Portugal. Despite a calmer property market, according to Moody’s house prices will still have risen by 4%,
Many new developments hit the market in 2019, and more are on the way. This has definitely helped to calm down the long run of price rises
The healthy calm of Portugal’s property market is reflected in the country as a whole. Consumer confidence is described as “robust,” and there are no political shocks on the horizon. new arrivals for 2020 should be aware there is a new sales tax on luxury homes.
There was already a one-off 6% tax on homes over €574,323. This will remain in place, but buyers of homes valued at over €1 Million will now pay 7.5% instead (subject to approval of the budget).
There are also plans for a Capital Gains tax exemption for people renting out properties in the long term, however, you must rent a home out for five years to qualify for the exemption.
If you or your clients are looking to buy in Portugal, Spain, France, Turkey or USA then we can help arrange the mortgage. Email mark@vci-network.com
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Rule Change could make 2020 the year for property in Turkey
Up until now if has been easy to get Turkish residency: pitch up with a tourist visa, flash your property rental contract and you got 2 guaranteed years in Turkey.
On 1st Jan 2020 that all changed, the Turkish government put a stop to residence for visiting tourists. However, property buyers are still eligible for residency with any property purchase & for those who spend more the $250,000 on a Turkish home are eligi...ble for Citizenship.
This change is likely to increase the interest in buying property in Turkey. Although the price of property in Turkey has increased there are still plenty of reasonably priced property for people wanting a longer stay in Turkey.
Generally, a tourist visa allows up to 30 days although Brits can stay a bit longer, up to 90 days in an annual period. If turkey is your choice destination, then buying a property could be the answer to secure a longer stay.
If clients are looking to buy in Turkey and need a mortgage Viva Costa can help, email mark@vci-network.com
We can also help if clients are buying in Spain, France Portugal or the USA
Lending Criteria for Turkey
• Maximum LTV 80% • Maximum Term 15 years • Minimum loan £25,000 • Rate 7% • Repayment mortgage only
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Brits are moving to France in increasing numbers
As we move into a new decade, the number of Britons moving across the Channel to live in the EU is at a 10-year high, according to a recent study by the Oxford in Berlin group and the Berlin Social Science Centre (WZB).
Around 84,000 people are thought to have migrated from the UK to France and other EU countries in 2019, compared with 59,000 in 2008.
... France is among the most favoured countries for Brits moving abroad & remain the top foreign buyers of holiday homes in France (27% of the total).
Nouvelle-Aquitaine remaining the most-searched region on the over the past year. Other popular regions are Brittany, Occitanie, Normandy and Pays de la Loire, While beloved Dordogne keeps its spot as the most searched department,
If you have clients or are looking to buy yourself in France, Spain, Portugal, Turkey or the USA then we can help arrange the mortgages. Email mark@vci-network.com
#mortgages #foreign #turkey #france #spain #mortgagesabroad #frenchmortgage
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Why 2020 is the perfect time to buy property in Spain
The Spanish property market suffered in the 2008 financial crisis – but that is now a thing of the past. Things are looking up for investing in Spain, despite issues such as Brexit, UK investors can still benefit enormously from buying in Spain.
Rising property prices... It’s official – Spain’s property market is on the increase. residential property prices rose an average of 6.7 per cent across Spain. Investing in 2020 should see you with a property that will continue to grow.
The growing holiday market Spanish tourism grew to record numbers in 2018 – with 82.6 million visitors coming to the country. The holiday retail market is very much in demand.
A great time to invest in property Interest rates are currently running at historically low levels. This means it has never been cheaper to borrow money. Your mortgage is effective cheaper than ever before.
An end to Brexit uncertainty? With Brexit getting resolved there will be far less volatility, for example in currencies.
Ideal for first-time buyers abroad Spain is a great choice. There is a large ex-pat community of Brits living in Spain.
Buying in Spain, France Portugal, Turkey or USA and need a mortgage email mark@vci-network.com
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Brits lead foreign house buyers in Spain
Brits accounted for 14.27 per cent of sales to non-Spaniards in the third quarter of the year after acquiring 2,160 properties, according to figures from the College of Registars.This was 1.79 per cent up on a year earlier.
The French represented the second largest foreign group to buy property in the country (8.4 per cent), followed by Germans (6.6 per cent), Belgians (6.17 per cent), Moroccans (6.05 per cent) and Romanians (5.83mper... cent).
Property purchases by non-nationals in Spain in July, August and September represented 12.5 per cent of the total, a higher proportion than in the previous two quarters of 2019
If you or your clients are looking to buy a property overseas get in touch with us and we can check the affordability and maximum lending limits. We can help with mortagges in Spain, France, Portugal, Turkey & USA. We have been working with mortage broker referrals for over 15 years
To find out more email mark@vci-network.com #finance #spain #holidayhome #purchases #foreign #portugal #turkey #brokers #dreamhome #france
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With less than a month to Christmas we still have lots of brokers contacting us to help with clients looking for a mortgage on a property in the sun, It must be the miserable cold weather.
We specialise in arranging mortgages on property in Spain, France, Portugal, Turkey & USA and have been working with brokers for over 15 years in this specialist field. If you have clients looking to buy an overseas property and are wondering where to go for the mortgage get in touch and we can help mark@vci-network.com #finance #dreamhome #spain #france #portugal #turkey #mortgage #holidayhome #mortgages #brokers