Insurance News Archive

Spain purchases made easier with HSBC's new bilingual service

Investors looking at property in Spain may find the process eased by using HSBC, who have signed an exclusive agreement to work with Spain's multilingual bank Solbank.

This allows the bank's customers to access staff who speak both English and Spanish who may find it easier to guide the buying process from both sides.

"One of the problems associated with buying property abroad is the language barrier and the necessity of homeowners to open a current account compounds this issue," HSBC said in a statement.

Spain has been an attractive market for both commercial and residential investors over recent years, with low interest rates and cheap flights back to the UK prompting some 500,000 Britons owning homes in the country.

However, a crackdown on illegal property and worries that the market is being over-supplied by enthusiastic developers has led to some concerns being raised that the Spanish property boom may be coming to an end.

27 Jun 2007