Loan levels down
After a good start to the year the last two months have seen significant dips in loan levels and capital lent for Mortgages in Spain.
The key reason appears to be the speed at which loans can now get to completion due to new regulatory requirements.
Pipeline log jam
There is a log jam with most Spanish lenders and the calling off period that must start again if an offer expires is causing delays.
The number of loans redeemed in the month was lower as well reflecting the fact this may be a pipeline issue rather than a drastic reduction in business.
Levels better than August
Septembers reported figures were up on August but some 31% behind the same month of last year.
Whilst the average loan size went up this was not enough to compensate for the lack of numbers so capital lent was down.
All regions of Spain saw a hit although Madrid had a much better month than others.
Middle East and UK applicants continue to see access to the full range of products decrease.
Read the full article :- Loan levels in Spain under pressure
