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Since 2019 it has not been possible for buyers from many Middle Eastern countries to secure a mortgage in Spain. A Mutlinational Bank based in the Middle East is now provding a solution to this. Expats or Citizens of Kuwait, Bahrain and Oman can now access lending. In order to buy a property in Spain. The loan is up to 65% loan to value. The ability to yet again obtain a Mortgage in Spain will allow buyers to consider not using all their own cash. And or increase their buying budget.

What are the implications of Perdo Sanchez announcements on the housing issues in Spain. Are the headlines of 100% tax realistic and factual. Should buyers in Spain and those considering a Spanish mortgage be concerned. What processes would need to happen in Spain to implement the changes. What challenges would the Spanish Parliment face.

In the last few weeks there has been significant improvements to Purchase mortgages in Spain. Key Spanish Banks have increased their product portfolio. Focused on obtaining high quality lending. For applicants buying at the upper end of the market. Also Spanish home loans above 500k then rates as low as 2.5% are achievable.

Spanish Mortgages in 2024 are below 2023 levels. Spanish Banks have tightened criteria due to high interest rates. Euro based non resident applicants for a mortgage in Spain will experience no difficulties. Non euro earners will have limitations. Increased stress level tests and reduced exchange rate calculations make it more difficult. Particularly to meet affordability ratios. Spanish Banks are focusing on the mid range property market. Excluding Spanish mortgages for the lower level of the market.

Non resident mortgages in Spain are lower. This is in line with a decrease in total market activity. Up to May 2024. A higher number of foreign buyers are opting for off plan builds. During construction a Spanish loan cannot be arranged. The application needs to start around 3 months before completion of property. Mortgages in Spain for an off plan cannot be guaranteed at contract stage. Therefore a risk applies. Non resident loan applicants who need, rather than prefer a Mortgage in Spain should opt to buy a resale. With a resale a Spanish mortgage application can be fully underwritten, before any commitment to buy.

Latest news for Spanish Mortgages in April 2024. Interest rate trends in Spain are on the decrease. Activity first month of second quarter improves for Mortgages in Spain.

Mortgages in Spain first quarter 2024 drop. Sale of homes is also showing a small decrease. High interest rates have subdued demand. Expectation that ECB will lower base rate in 2024. Spanish mortgages with fixed rates remain low. Spanish Banks holding up on profitability. BBVA and Sabadell raise merger question again