Polaris World (Murcia) repossession property now available

Dec. 16, 2009 - PRLog -- Repossession property now available on the Polaris World golf resorts in Murcia, Spain

The Spanish property market has been hard-hit over the last two years. There has been a glut of unsold property, prices have been falling and Spanish banks have had to agree debts-for-assets swaps with a number of major developers to prevent them from going under.

Relatively high interest rates and very low Sterling-Euro rates have made buying in Spain unattractive to buyers from the UK. Many UK buyers lucky enough to have found a good deal have also experienced problems obtaining mortgages – Spanish banks have been very reluctant to start lending again to anyone but the very best candidates.

The swing in the exchange rate has led to many owners being unable to service their mortgages. A number of these owners have now given the keys back to the banks. The banks have had to look at ways to sell off any repossessed properties and some of the banks have put together attractive packages to entice new buyers to take over these properties.

One of the more pro-active banks is CAM Bank, which financed large parts of the Polaris World golf resort phenomenon situated in Murcia, South-East Spain. CAM Bank has for sale a selection of properties at very attractive prices located on the Polaris World resorts. The bank is also willing to lend new buyers up to 90% mortgages on these properties, making this an easy and inexpensive way to buy a luxury Spanish property. You can find full details of these properties and the mortgage offers at http://www.camrepossessions.com

The process from repossession to re-marketing takes some time but there are some repossessed properties now available and more will continue to become available over the coming months.

These repossessions are selling quickly because they are priced to sell and can be financed to a higher level than standard resales. Whilst the repossessions are a very appealing proposition, there is no doubt that buyers with larger deposits would do well to also look at private resales - many of which are being offered for sale at bargain prices to match the repossessed properties and are being sold with furniture and extras. Private resales can be viewed at http://www.murciagolfproperties.co.uk

News surrounding the Spanish property market has been negative for some time but recent reports indicate that the slump could be over – perhaps now is the right time to step in a grab yourself a bargain!

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Murcia Golf Properties are the leading real estate agent specialising in selling properties on all the golf resorts of Murcia.
The company has over 650 resales on their books - more than any other agent - and has exclusive access to hundreds of privately-owned properties, repossessed bank owned properties and developer discounts.
Murcia Golf Properties has been the leading seller of Polaris World property for the last 6 years but also sells at Roda Golf, Corvera Golf and Peraleja Golf Resort among others.
Matt Oakley & Tim Savage run the company from offices in the UK and Spain. All of the staff and Directors at Murcia Golf Properties own property on the resorts.
Murcia Golf Properties is 100% independent and offers balanced advice to all of its clients.