February 20, 2012
The new decree issued by the Junta de Andalucía for the regulisation of rustic properties gives a detailed breakdown of how they will assess and regulate properties that currently are not able to be mortgaged by banks.
Whilst the decree itself will take some time to implement and will not favour everyone, when everything is finally ratified, or unfortunately for some demolished, it may allow for more Banks to consider giving mortgages for properties that sit on Rustic land, an area that very few banks will participate in presently.
Whilst it will always remain more difficult to mortgage a country property the new decree will remove some of the uncertainty that currently exists and does not allow for banks to consider them as security.
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