Mortgage levels
December showed an increase in all areas of lending in Spain.
Numbers of new loans for the buying of a home were up by 28.9% against the same month of corresponding year, capital lent increased by 33.8% and average loans sizes rose to € 104.950 an increase of 3.8%.
For the full year when considering data aginst 2013 new loans were up marginally with 202.954 registered against 199.700 registered in 2013. The numbers whilst showing an improvement were still down against the yea of 2012 and half of that completed in 2012.
Interest rate and loan types
Average interest rates fell again to 3.5% partly due to the Euribor decreasing again and partly due to Spanish Banks dropping margins being charged.
Over 93% of all loans were taken on a variable rate basis with less than 7% of all mortgage applications being processed and granted on a fixed rate.
Net outflows
Despite the positive news of a continuing month on month increase in credit and a positive end to 2014 net outflows continues to be the the biggest issue for the banks in Spain. In total nearly 80,000 more loans were cancelled than new loans constituted.
Spanish Banks will need to work hard in 2015 on their best buy products and overall credit flexibilty if they are to halt the shrinking of their loan books and the impact finally on the bottom line of lost business.
Read the full article: Loan levels in Spain increase again
No comments:
Post a Comment