February lending Spain

Lending in Spain

Mortgages in Spain dropped in February when compared to the previous month.

This was pretty much across the board although a few regions saw small increases.

Madrid had more newly registered home loans in the month than any other region and outperformed Andalusia.

Annually accumulated the figures are still positive and both numbers of, capital lent and average loan sizes were up compared to February of 2017.

Interest rates

Variable and fixed rates dropped in the month.

With lenders under pressure to meet targets fixed rates are being held at very favourable levels.

fixed rates made up over 37% of all completions.

Mortgages for the purpose of buying a home as a percentage off all new credit also was higher in the month than it has bee for a while.

Spanish lenders

Spanish Banks saw a small net outflow of lending within the month after a small gain the previous year.

Non residents going through the application process remain at good levels and areas like the Balearics favoured by second home buyers remain buoyant.

Read the full article :- Lending targets missed in February