As part of the agreement, Connells will be offering buyers the option to rent the property for up to seven years, together with an option to buy, through CAM’s ‘Rent to Buy’ scheme. If that 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 mortgage and the peace of mind that any new build properties available are already built, so avoid the associated risks of buying off-plan.
“We are delighted to have been chosen by Mediterranean CAM out of a number of estate agencies to market properties abroad. CAM Bank is the fourth biggest savings bank in Spain and is an important financial institution with an impressive track record. We are both market leaders in our own fields and see this opportunity as a gap in both our portfolios that can now be filled,” says Connells Chief Executive Stuart Flavell.
“This partnership with Connells is the first we have made with any property agents since the start of the downturn which is testimony to Connells professionalism and extensive estate agency network,” says Alfredo Millá Ferrero, International Commercial Director for CAM Mediterranean. “We are delighted to enter into this agreement with Connells, especially as the Spanish market has a lot of exceptionally good value property to offer the UK market at the moment as a consequence of the need for Spanish banks to reduce the volume of properties on their balance sheets. Connells will be an intrinsic part of our overseas property sales proposition.”
Through the partnership, the Connells Group (including both Connells and Sequence branches) will initially be offering up to 3,000 properties throughout mainland Spain, and the Balearic and Canary Islands. Properties include both new-build and second-hand homes from city-centre apartments to luxury villas.
“Now is a great time to purchase a Spanish property and we believe there is an increasing number of people looking to buy in this market,” says Stuart. “Through our branches across the UK, our customers can now purchase a property abroad safe in the knowledge that they have the backing of a recognised and respected UK estate agent, together with the guidance and advice from a well-established and successful Spanish Bank.”
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