Category Archives: Mortgage services

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 […]

The last 7 days have seen two bits of negative news come out of Spain relating to the housing and Spanish mortgage market. The first statistic issued by the Bank of Spain relates to the level of loans in default or assessed as at risk. For yet another month running this has increased and now […]

From the 1st of November in an effort to manage down volumes of Spanish Mortgages granted for 2012 Lloyds Spain have increased their minimum loan size to 100k from the current 50k. The new criteria will apply to all applications received after the 1st November.The only exceptions to this new minimum loan size will be […]

Key Data. The National Institute of Statistics in Spain today published the provisional mortgage data in Spain for August 2012. Data shows further drops in both number of and value of mortgages granted year on year. Redemptions or cancellations of mortgages yet again exceeded new loans completed reducing the overall mortgage books of Spanish Banks. […]

Euribor drops decreasing Spanish Mortgage rates Bank of Spanish published Euribor rates for completions and reviews in October has dropped from 0.87% to 0.74%. With new Spanish Mortgages being offered at an average rate of 3.25% above Euribor this drops the overall rate to below 4% for the first time this year

Last week saw the much awaited audit of the Spanish Banking system and figures came in at the lower end of expectation. Whether the markets believe these figures remains to be seen. For non residents buying in Spain requiring a Spanish Mortgage the issues with the Banks is less profound than for those residents. The […]

An article in Reuters today outlined the issue relating to a widening gap in the interest rates being paid by buyers in Southern Europe like Spain and the Northern Europeans highlighting in particular Finland. Whilst a few years ago margins charged by Spanish Banks averaged for Residents between 0.50% to 1% above Euribor and 1% […]

Mortgages in Spain why high rates With interest rates falling across the world it can be difficult to understand why Spanish mortgage rates are not lower than they are. The issue lies in the cost of funds for Spanish Banks, the fact they are almost precluded from the wholesale money markets, and the cost of […]