Category Archives: Mortgage services

Yesterday saw the announcement of a € 30bn rescue package from the Europe for injection directly into the Spanish Banks. As part of the negotiations The Spanish Government has agreed to hand over regulatory powers from the Bank of Spain to the European Central Bank. It is difficult to argue that the supervisory powers should […]

There is much in the press over the last few days in terms of what the Spanish Government will do with the Banks and their exposure to real estate. Whilst some positive measures, that should have been implemented many months if not years ago, are now happening some fundamentals to help ease the situation are […]

Reports out today have confirmed the situation on lending in Spain has deteriorated further. Despite taking advantage of the European Central Banks cheap bonds issued over the last few months the Banks in Spain have chosen to buy sovereign debt with these funds rather than to lend to the residential and commercial sectors. Data shows […]

The Bank of Spain has announced its intention to continue to look at the possibilities of their new mortgage index the IRS, which replaces and combines the Caja and the Banks IRPH mortgage index, as the preferred index for all Spanish loans. The view of the Bank of Spain is that the IRS will provide […]

In an environment of very difficult lending it would appear Ubiquitous Mortgages are able to buck trend and completely outprice all the major banks in world. While other lenders have withdrawn from the European market with many French Banks closing the doors to international clients, Spanish Banks doing the same and many international lenders like […]

This week has seen the markets in turmoil. The downgrading of a number of Spanish Banks, Spain itself and the previous weeks downgrading of a number of UK Banks who lend in Spain has seen a very quick increase in margins across the board. Even Banks like Barclays who missed the downgrades this time round […]

Sabadell Group which includes Sol Bank have increased margins above Euribor to 1.90% as a minimum from their previous 1.25%. The margin includes taking life cover as compulsory and in a move which show another change to their strategy for the first time Sol Bank will differentiate rate based on loan to values. The increase […]

DB in Spain Following the general trend we have seen over the past few months Deutchse bank announced today that their Spanish Mortgage margins above Euribor for non-resident buyers has increased from a minimum of 1.25% above with linked products to 1.80% with linked products and as high as 2.60% above without linked products. What […]

In a recent statement the owners of Santander the Botin’s outlined their expectation that arrears in Spain had peaked and they expected matters and prices to improve this year. The rather optimistic view is at odds with what is happening to other banks and their view of the market. It is difficult to see how […]

Place in the Sun update A Place in the Sun reports today that sales for Spanish properties in April fell to their lowest level since the crisis began. Sales were 32% down year on year and 25% lower than March this year. Whilst most agents are reporting higher sales to the non resident market the […]