Banco Halifax Hispania (BHH), the Spanish arm of the Halifax, has reduced its euro mortgage rates. Mortgage rates of 3.193% for loans up to 60% and 3.443% for loans up to 70% of property value are now available. The loans, which are for terms of up to 30 years, must be repaid before the borrower reaches age 70.

Spain remains the most popular destination for British people buying property especially in the expatriate areas of Costa Blanca, Costa Cálida and Costa del Sol.

500,000 British citizens now own property in Spain and according to Datamonitors Buying Property Abroad report, which reveals that 36% of the tourist housing stock in Spain is owned by Britons. In addition, 37% of second homes owned by Britons outside of the UK are located in Spain.