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 historic and current main Banks who lend to nonresidents of Spain remain either outside the issues of development funding and heavy resident lending, have been given a clean bill of heath by the audit or have their funding from countries outside Spain.
Whilst the problems in Spain have had an effect on the Spanish Mortgage market by way of loan to values, due diligence required and rates that Spanish mortgages are offered at access to borrowing remains available.
The key Banks who operate in the Spanish mortgage market for non residents are
Barclays es
Lloyds es
Banco Sabaddell
Caixa Bank
Bankinter
BBVA
Deutsche Bank