A place in the sun, at a discount
Connells is to market thousands of heavily discounted Spanish properties through its high street branches.
The Connells deal is through a partnership with Mediterranean CAM, the property arm of the Spanish savings bank CAM.
Buyers will have the option to rent a property first for up to seven years, with an option to purchase through CAM’s “rent to buy” scheme. If the option is exercised during the first two years, all the rent paid can be deducted from the purchase price.
Buyers will also have access to CAM’s 90 per cent mortgages. Properties will be new or secondhand, and will not be offplan. Stuart Flavell, Connells chief executive, says: “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.”