Euro boosters for property in Spain

Britain's new coalition government has got off to a quick and appreciated start with national budget savings and waste-avoidance supposed to save £6 billion this year and this seems also to have boosted Sterling against the much troubled Euro.

The pound is approaching its highest level against the Euro since it slumped to near parity in November 2008 and that is enough for many prospective Spanish property buyers to make a positive move to grab one of the many villa and apartment bargains for themselves in 2010.

Others are waiting for the meat of the upcoming UK budget that pundits are confident will begin to sort out the McBroon fiscal failures and command the confidence of investors and credit rating agencies.

Either way, it seems it will cost Brits less to buy a bargain home in Spain, whether for family holidays, over-50s investment or fulltime retirement living. With all-time low interest on Spanish mortgages – typically around 2% - many would-be buyers are looking keenly at Spanish bank repossessions and other bargains that come with guaranteed 90% mortgages.

It makes sense to many people to go for the maximum Spanish mortgage and put their cash on deposit in the UK on interest rates that are twice what their mortgage is costing them. There can be further savings in acquisition costs in paying off part of the mortgage if sterling continues its upward rate in the years to come?

Euroland is displaying all the worst traits of a currency union that applies a one-size-fits-all interest rate to a group of 16 different countries. Britain, meanwhile, seems to have elected a coalition government with the ability and commitment to set right a national debt that will have doubled in the next year or so.

There’s a greater air of confidence in the Cameron Government as it makes a succession of “sensible decisions” to remedy 10 years of Labour fiscal foul-ups. With this new-found market confidence sterling is sure to win out against the Euro?

Low mortgages, prices 16%-50% below valuation, wide property choice in beach and golf resorts from specialists PropertyInSpain.Net and ownership costs only one third of the UK’s… Now is the time to buy a bargain property in Spain.