Aprils mortgage levels fall back from March

Loans made and capital lent

Data out in Spain last week showed a decrease in numbers of loans and capital lent when considered against the month of March.

Although a little disappointing this is the normal trend when looking at what happens  over an extended period of years. Only once in the last 5 years has Aprils mortgages in Spain been higher than in the March.

When considering numbers of loans and capital lent against the same month of the previous year the picture looked a little more rosy. Numbers of loans were up 21.4% at 18,857 but the avergae loan size only moved by 0.6% at 100.683.

Types of loans

Variable rate remained the type of loan by which most loans completed with a small increase ion those opting to take fixed rates. More Spanish Banks are offering fixed rates in the currnet market and with rates being low more applicants are choosing to fix for at least a period in time.

The interest rate for all loans including commercial lending was 3.16% in April but for home loans the average interest rate was 3.29%. This unusual statistic may suggest the Banks are keen on and focussed on getting credit to businesses.

Regional performance

Regionally Andalucia was yet again one of the top performers lending the most and showing a small increase over March. The Balearics was one of the few other regions that outperformed March figures.

Net outflows

Net outflows which slowed slightly in March raced away again with a much bigger gap between the amount of loans redeemed or cancelled against new loans constituted.

The data is taken from Land registry so a little behind the data taken at Notary and will relate to copmpletions from the months of February and March.

Read the full article:- Registered mortgages in Spain news for April

News for house sales and mortgages in Spain

Notary report for April

Data published yesterday by the Notaries in Spain suggested house sales increased in April but house prices fell back.

Data published monthly by the Notary Offices gives a more real time overveiw of what is happening in Spain as unlike the Statistical office who report from land registry. Mortgage and home completions take up to 3 months to make their way to Land Registry data so Aprils reporting could reflect what happened in January, February and March.

House sales

House sales climbed by 1.9% in the month of April according to those signed at Notary. Price per square meter however fell back by 3.9% to € 1,188 suggesting that a complete stabilization of house prices has not yet happened. According to the Notaries prices have now fallen 37% since the housing crisis and banking crisis started.

New lending

New loans were up in the month by 12.3% amd over 12k new loans were constituted within the month.

Average loan sizes were up 9.2% at € 122.119 reflecting a more positive risk approach by Spanish Banks.

Mortgages in Spain need a boost  in numbers to prevent the ongoing net outflow of loans to the Spanish Banks books. In an attempt to grow new and profitable business lenders have been much more aggresive in the market place and higher numbers of house sales if this can be sustained will help.

Read the full article :-Spanish Notaries Monthly Housing Report