Mortgage levels
Levels of number of new Spanish loans grew in May in Spain but the average loan size dropped. Whilst still up against May of the previous year the drop from April was significant.
Unusual trends in 2018
At present whilst the overall trend is growth in lending in Spain many normal seasonal expectations are not being met and some of data remains unusual each month when comparing it to the last 5 years.
Fixed rates
Fixed rates product types took a larger market share in May and topped over 40% of all new contracts.
Fixed rate levels remain good value for money and provide certainty or rate to client in the long term.
Canary Islands has a good month
Canary Islands had a storming month up over 80% on the same month of last year.
Risk assessment changes
Changes to how Banks underwrite moving everything to head office may be encouraging Spanish Nationals to go for pre-approval before they buy.
This means the Spanish Banks pipelines are longer and may account for some of the usual monthly trends.
Read full article:- May average loan size dips in Spain
