Spanish loans
In February the number of Mortgages in Spain registered at land registry and new loans signed in the month dropped in comparison to January.
Capital lent increased however due to a higher average loan size.
Whilst normal for Februarys home loans to decrease against January the drop in numbers was the largest percentage drop for the last 5 years.
House loans
The amount of new credit in the market that related to the purchase of a house also dropped in February.
Fixed rate versus variable rates
Fixed rate loans continued to grow, taking a share of 38% of all new loans, the fixed rate interest level was less than the previous year but overall rates increased marginally.
Brexit causes uncertainty
Coastal areas saw the biggest drop month on month for new loans perhaps under pressure from uncertainty of non resident buyers who mainly come from the UK.
Regionally across the first two months of 2017 against 2016 most regions are still showing an annual increase.
Mortgage book losses decrease
Spanish Banks saw a net loss to their mortgage books for the month after January where there was a small gain but the loss has slowed considerably.
Read the full article :- Numbers of Spanish loans drop in February
