A place in the sun
Traditionally, holidaying in Spain has always been a popular pastime with sun-loving Brits.
With the average flying time from the UK to Spain around two hours, the country offers Brits convenience, value for money and warmer climes.
Some UK consumers might be considering investing in a property in Spain and Abbey has launched a new range of mortgages for UK residents.
The three new deals include a tracker mortgage and a three or five year fix.
Mortgages are available for up to 80 per cent of loan to value and carry an application fee of 1.25 per cent of the mortgage total.
Abbey will complete the full application including customer ID and affordability checks and will underwrite the mortgage in the UK.
Banco Santander will process the mortgage, provide an offer to the customer and issue the funds, with the deeds being held in Spain.
Jeff Scott, Abbey's head of specialist lending, commented: 'Increasing numbers of UK residents are buying properties abroad, whether it is retiring overseas, investing in holiday homes or even first-time buyers priced out of the market here.' | 
