Loans in Spain numbers fall

New lending figures

The number of new loans in Spain for the month of November 2017 fell against the same month of the year before.

This was probably due to a particularly good month in 2016 when against normal trends completions rose above those of October.

Capital lent increases

Overall the level of capital lent increased as despite the fall in numbers the average loan is up considerably from 2016 and during the year of 2017.

Most regions have seen good increases across the year but Murcia and the Canary Islands have both struggled and without a really good performance in December will finish 2017 down across all measures.

Rates rise slightly

Interes rates whilst climbing a little in the month remain below 2016 levels and fixe rate contracts seem to have levelled out at around the 35% of all new loans taken.

The average rate across all product types was 2.71% for the month down from above 3% this time last year. The 12 month Euribor remains in negative territory as it has done for at least 12 months now.

Spanish Banks pressures remain

Spanish Banks continue to lose clients as mortgages in Spain redeem at a faster rate than than new loans are put on the books but there have been some positive signs that this gap is slowing although in November this was not the case.

Read the full article:- Home loans in Spain are a mixed bag in November

Spanish October home loans drop

October data

Loans in Spain for October saw a drop over the month of September.

This followed normal yearly trends where numbers loans are normally less in this month but there was also a fall in the average loan amount compounding a drop in the capital lent.

Data for the year so October 2017 over 2016 was a much better picture with an increase across the board in terms of numbers of new Spanish loans, capital lent and average loan size.

Fixed rates

Fixed rate product types showed for the first time in a while an increase, whilst the variable rate continued to drop year on year and month on month the fixed rates increased in October. This did not stop 37% of all new transactions being on a fixed rate basis.

Fixed rates for non resident mortgage applicants stayed very stable but the headline rates for residents rose.

Spanish Banks 

Spanish Banks saw a month of net outflows after a couple of months of net inflows. As long as this trend does not continue it should not cause too much concern for the lenders.

Read the full article:- October mortgage statistics in Spain