Reasons why
you should get a mortgage
For many young first
time buyers, often lacking enough savings to make a cash purchase, the benefits
of getting a mortgage are obvious. However, there are also reasons to get a mortgage
even though you have the option to make a cash purchase using your hard earned savings.
1. Earn profits by making alternative use of your money.
The interest rates in
Spainare among the lowest in
Europe
. If you chose to save your money and take out a mortgage you would have the alternative
to invest the money in off shore low risk investment funds. These alternatives may
include treasury bills, corporate bonds etc. These can provide returns much higher
than the mortgage interest. After covering the cost of the mortgage, the excess
returns will be profit.