There is now good news for people arriving in Turkey to help speed up you Turkish Visa Application process at the borders.
From now on, you can apply for your visa online before you leave for your trip to Turkey saving time when you arrival at your destination.
The number of visitors has been the highest for a decade due in part to a range of government initiatives, according to the head of the tourist board, Santiago Martin. Continue reading →
According to their quarterly report on the economy of the eurozone, the credit rating agency, Standard & Poor’s (S & P), predicts that the Spanish economy will grow by 0.5% in 2014, one tenth less than their July estimate, and that unemployment will continue to increase up to a maximum of 27%.
Spain received 7,875,997 international tourists in July, which is an increase of 2.9% compared with the same month of 2012. According to the latest tourist border movement survey (Frontur) prepared by the Institute of Tourism Studies of Spain’s Ministry of Industry, Energy and Tourism, this figure is a new record, and marks the best July since 1995, when the statistical series began.
A new bill was recently passed and enacted in Spain significantly amending lease agreements on real estate. This Law has been considered for some as quite necessary in Spain in order to adapt leases to a very active market. Continue reading →
With an estimate of around 250,000 British owning (and in many cases residing in) properties in Spain, it is quite common to encounter their relatives, descendants and potential beneficiaries of the estates of the owners, facing difficult circumstances when those pass away leaving a property and some other assets in his or her estate. Continue reading →
When many are still suffering the consequences of the financial crisis and the many excesses that provoked it (and amongst those excesses were the real estate craze in Spain) there are many property owners who are complaining of being tied in to purchase agreements full of clauses that were not properly explained to them and in many cases not even translated. Continue reading →
After the recent Supreme Court judgement in which the court declared all floor clauses within mortgage agreements signed with BBVA (Spanish second largest bank) were abusive, hence null and void, some other first instance courts have started to apply and execute the legal precedent in claims filed by mortgagees. Continue reading →
A floor clause (or “cláusula suelo” in Spanish), usually entered in a financial agreement in relation to a cap floor, refers to a specific condition generally included in financial contracts, principally loans.
As a loan can be agreed based upon fixed or variable interest rate, the loans agreed with variable rates are usually linked to an official interest rate (in the UK the LIBOR, in Spain the EURIBOR) plus an extra amount (known as spread or margin). Continue reading →
The Spanish economy seems to have bottomed out and be ready to start growing,” says the latest forecast from consultants, Ernst & Young, who estimate that the Spanish economy will fall by 1.7% this year but rebound by 0.2% in 2014 and by 1.5% between 2015 and 2017. Although for this they call for continuing reforms, such as the tax system or pensions, in order to increase productivity and reduce unemployment. Continue reading →