ATL 1: Spain controls the whole of South America
ATL 2: Portugal ditto
ATL 3: Britain ditto
ATL 2: Portugal ditto
ATL 3: Britain ditto
England isn't enough of a major power seafaring wise to be able to annex and defend all of South America. The Spanish are still the #1 sea power and Portugal a close #2 in the 1500s, and attempts to take the colonies post-1600s can only end badly for England.