Yearly Archives: 2013

Lending drops in Spain Data out from the Spanish Statistical office yesterday showed yet another decrease in  lending in Spainboth in terms of average loan size, capital lent and number of new mortgage constituted. The level of Spanish mortgages for residential dwellings completed in February 2013 fell by 4.9% in comparison to January 2013 and […]

Data out today has shown an increase in January both in average loan size granted month on month and numbers of mortgages registered month on month in Spain. Whilst the numbers and average loan size from Dec 2012 to Jan 2013 have increased the overall year on year statistics however continue to drop. Capital lent […]

A few weeks after withdrawing all lending facilities to anyone who earned their money outside the Euro Deutsche bank Spain has launched a new nonresident product aimed at Swiss, Norwegians and Danish clients. The withdrawal from nonresident lending appeared to be a knee jerk reaction to a spate of repossessions mainly from UK mortgage holders. […]

INE Spain For the first time the National Statistics Office in Spain has issued an annual summary of Spanish Mortgages constituted in 2012 in comparison to 2011 and the last 5 years. The average value of total Spanish Mortgages granted dropped by 5.6% from 2011 to € 112.875. The average loan amounts for dwellings was […]

Decrease in Spanish Mortgages according to INE December 2012 saw a further drop in overall mortgage lending in Spain. On the vaguely positive side the decrease in number of loan completed in December 2012 in comparison to November 2012 was less negative than November to December numbers for 2011. In 2011 the drop month on […]

Information on Barclays Bank in Spain. Spanish Banks announce branch closures.

Despite a small increase in property sales in December 2012 in comparison to Dec 2011 the overall annual figure for Spanish property transfers fell by 11.3%. Of the 49 thousand of total properties sold 23 thousand related to dwellings. In December the amount of sold new properties increased slightly as sales completed before the end […]

After increasing slightly December to January Euribor rates appear to be dropping again. The 12 month Euribor rate for mortgage completions and annual reviews in Spain rose from 0.55% to 0.57% in February reflecting the rises experienced in December to January. Whilst this move was small it was at the time seen as significant as […]

What is happening? In December the Spanish bad bank SAREB was formed and started to take over property from the Banks in trouble. At this point we at IMS had a mortgage client who was buying a property In La Manga direct from one of the banks.There were in fact a few apartments all of which […]

Deutsche Bank today announced until further notice it will no longer lend in Spain to persons who earn in a currency outside the Euro. Rationale for this change to credit policy is the current level of defaults and repossessions they are experiencing and their concern over currency fluctuations. The directive has come from Germany and […]