Latest News and updates

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 […]

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