Spanish mortgages for the full year of 2020 were down on 2019 due to the impact of COVID but Capital lent held up reasonably well. Higher average loan sizes in Spain offset some of the downturn in numbers. Spanish Banks obtained benefit from lower redemption levels.
Mortgages in Spain for the month of November showed a decline in numbers of completions but due to increases in average loan sizes capital lent is holding up relatively well.
Now is a good time to understand what Spanish Mortgage facilities are available for non residents. Northern European clients and applicants from EU, US, UK, Holland, Germany and Scandinavia can pre-approve a loan in Spain.
COVID 19 and Brexit both play a part in depressing the Spanish home loan market. Annually capital lent is down on 2019 and unlikely to improve in last two months of 2020. October Spanish mortgage figures however show an improvement on previous months.
Spanish mortgage data for September 2020 showed a large increase on August figures as delayed completions and mortgage signings were signed at notary post COVID 19 restrictions being lifted.
Spanish mortgage data for August 2020 shows a steep decline against 2018. Whilst the new loan numbers are not down significantly against the same month of last year 2019 was itself saw large decreases in due to the introduction of new regulation that delayed or reduced anticipated completions.
Data for month in July for Spanish Mortgage activity shows a further decline in business both over the previous month and year to date. Interest rates remain stable and fixed rates remain the majority choice of borrowers.
Data on Spanish Mortgage activity for the month of June 2020. Details of how COVID 19 is affecting loan completions in Spain, impact on interest rates and year on year statistics.
Equity release for Spanish property A UK fund via a Private Bank has recently launched a new lending product for the Spanish Market. The product has been set up to Fill a gap in the market not covered by Spanish Banks and with more flexibility than some of the Private Banking options already available in […]
Buying off plan. When buying off plan in Spain you are securing the right to buy at completion of the construction. The contract means that whilst you have the right to buy and will pay staged payments to the developer during the building phase as agreed you do not actually own the property or any […]