Would you like a GUARANTEED yearly income from your Spanish home?
Everyone wants to have a decent
standard of living on retirement. Until pensions actually come into force, a
need for income is often the case, but for many it is becoming difficult. Often
people own a property that has grown considerably in value and is probably
mortgage free. For many of us our home is our major asset, and with pension
income possibly not keeping pace with general living expenses, more and more
people are looking at ways of releasing this locked up capital in their
property. At Hamiltons we have a number of solutions to help homeowners in
Spain. So let us help you improve your income and lifestyle while retaining
ownership of the property, thus allowing the asset to pass to your next of kin.
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Minimum loan €
200,000 - 10 year term
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Loan up to 90% of
value (Current market value)
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2% Guaranteed Income
per year (in advance) For at least 5 years
-
3 month Euribor
floating rate plus 0.96% bank margin
-
1% bank arrangement
fee
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Mitigates Spanish
Inheritance Tax
SITIRS
Spanish Investment Transfer and Income release Scheme
Due to the ever increasing number of expats now living or intending to move to
Spain from the UK and Northern Europe to enjoy the preferred climate are finding
that the cost of living has risen considerably in recent years.
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Many who have retired in Spain are
finding it difficult to cover the ever-increasing cost of living from their
pension funds, particularly since the introduction of the euro, but not all is
doom and gloom as those who have purchased Spanish property have realised that
due to the phenomenal growth in property values experienced in recent years.
This mixed blessing has resulted in many cases that the property
owners become asset rich but cash poor.
Many who have retired in Spain are feeling this affect and quite
often results in them having to reconsider priorities. Their dreams
of relaxation and enjoyment are being hampered and even curtailed.
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Fortunately Hamiltons have been working to resolve this common problem and now
have number of solutions to overcome this problem namely SITARS.
CITARS (Spanish Investment Transfer and Income release Scheme) has the ability
to use the Spanish asset to create annual additional income, and release equity
on the property.
This unique product allows the owners of the property to retain 100 % ownership
as well as producing an income on an ongoing bases. The system by default
mitigates the Spanish Inheritance
Tax as an added bonus, which will save spouses and heirs considerable sums of
potential Inheritance Tax liabilities.
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