There is good news for the growing number of Brits wanting to invest in the Spanish property market. Banco Halifax Hispania (BHH), the Spanish arm of Halifax plc, has reduced its mortgage rates. Mortgage rates of 3.265% for loans up to 60% and 3.515% for loans up to 70% of the value of the property are now available.

Ian Smith, Head of European Operations says: "We are continuing to see low levels of interest rates in Spain which makes it an excellent time to finance that dream home in the sun. As we move into generally what is a busy house buying period, this latest reduction in interest rates makes that overseas property even more affordable".