After the 2008 crisis, I had to close down my company and sell the family house (in 2017) quickly and badly to pay off the debts with the bank. Since then until November 2024, my wife and I and three of our children, have been living in rented premises. The owner informed us that, at the end of the contract at the beginning of February 2025, we had either to vacate the house or purchase it.
For a month, we were negotiating the price, as well as visiting other houses to continue renting. Days passed and the price of the house was still too high for us, and rental prices on the island of Mallorca are sky high.
The reality was that when we went to banks to consult the possibility of signing a mortgage, there were the following difficulties which led the banks to reject us:
1. Given your age we can only give a mortgage for 15 years, or 16 at the most.
2. The amount saved is not enough since the monthly payment that you would have to pay exceeds 40% of the family income. Until June 2024 we were paying for our third child's university fees and accommodation.
3. My fiscal situation of earlier years was very bad due to the payment of the debts contracted in the company.
Three banks were consulted and the result was the same: “Our risk department considers it IMPOSSIBLE TO GRANT THE MORTGAGE”.
At the beginning of December, my wife told me that we could only trust in Pedro's intercession, and we decided to start a novena praying together every night. On that very day, 3 December, a manager,  a contact of one of my daughters, got in touch with us to study the case.
We had already discarded the possibility of purchasing the house. We had even paid a small deposit on another house that would begin to be built in a year and a half. We had the garage and the hallway full of boxes already packed, with clothes and a multitude of objects and books, for the move. We were only a month and a half away from leaving the house.
My wife and I kept praying every night to the Lord through Pedro's intercession. In reality he was not being asked for one favour: we were asking for several:
– that the fourth bank would say Yes to us,
– that my current company would advance me an amount to be paid back (another loan),
– that the owner would agree to lower the final price he had given us, and
– that we could get all the certified documentation that we were asked for.
On 30 December  we signed the purchase agreement for the house, with a lower price than we had negotiated at the time. We were granted a mortgage term of up to 24 years with a monthly payment that we can afford. And my company loaned us the balance that was required.
Our lawyer says that he does not understand how we have been able to get it, and we have told him the truth: that we do not understand it either, but we do know that it has been through the intercession of Pedro.
Thank you very much Pedro.
JPV (Mallorca, Spain)
2 January 2025

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