Land registry data
Data out today from the statistical office in Spain confirmed the data pusblished by the Notaries and shows Spanish home loans continue to rise year on year.
Total lending was up 7.3% over last year but 10.9% up for those relating to the purchase of homes in Spain.
Both numbers of and capital lent increased both year on year and month on month although the increase of May figures over Aprils of this year was the lowest for the last 5 years.
Variable rate product types made up over 90% of loans signed and the Euribor was the index used in more than 90% of all transactions.
Interest rates
The average interest rate was 11% down on that of last year but marginally up on April. The Euribor fell slightly in May so the higher average rate is due to higher margins charged by the Banks in the month of May. This will most likley be a blip as competition amongst Spanish Banks to secure resident loans remains high.
Regions
The Balearics and the Canaries against better than average perfromance in 2014 both lagged behind the trend of increases seen in other regions and only Asturias as a region is behind 2014 when considering the data for the year so far.
Net outflows for another month
Total number of home loans signed and registered were 19,732 in May but mortgages canceled for yet another consecutive month outstripped new loan deeds signed.
Cancellations totaled 24,433 meaning the overall book of home loans fell by 4,701 and over 1m of capital left the books yet again.
Read the full article:- Land registry lending statistics for Spain in May
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