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
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