Spanish CAM Bank in New ‘Rent to Buy’ Partnership
Due to the amount of unsold properties in Spain coupled with falling home prices, Connells Group is to market thousands of heavily discounted Spanish properties.
Connells is partnering with Mediterranean CAM, the property branch of the Spanish savings bank CAM.
The rent to buy program will give buyers the option to rent a property for up to seven years. If the renter decides to purchase the property in the first two years, all the rent paid may be deducted from the purchase price.
In addition to the rent to buy option, buyers will have access to 90% mortgages through CAM.
According to Stuart Flavell, Connells chief executive: “We are delighted to have been chosen by Mediterranean CAM to market properties abroad. CAM Bank is the fourth-biggest savings bank in Spain and is an important financial institution with an impressive track record.
“Now is a great time to purchase a Spanish property and we believe there is an increasing number of people looking to buy in this market.
“Our customers can now purchase a property abroad, safe in the knowledge that they have the backing of a recognised and respected UK estate agent, together with guidance and advice from a well-established and successful Spanish Bank.”
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