Spanish lending performance in December.
December saw a mixed month of mortgages in Spain with most regions showing numbers below those of November but all increasing year on year.Average loan sizes rose in December so despite the drop in numbers the actual capital lent did not fall so heavily.
Full year results
Across the whole year, now the full 12 month completions data is available, Spanish lending saw it best year since 2012.Total numbers of new loans and capital lent grew in all regions over 2015 although the pace of growth was a little behind 2015 to 2014 levels.
Fixed rate growth
2016 saw the mix of variable rate product types drop and fixed rate product types grow dramatically. All Banks in Spain launched fixed rate products and the share of the total new lending market grew from around 5% to over 30% in 12 months.Net outflows continued to be a problem with over 28,000 more loans being redeemed than new loans being constituted. This has now been the case for every year since the banking crisis.
Brexit impact
Brexit hit non resident loan levels for a couple of months but UK applications have increased for the first two months of 2017. Whether the triggering of Article 50 pushes this backwards will be clear over the next few weeks.Read the full article:- 2016 mortgage market in Spain
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