Spanish Mortgage levels improve in October
Loan levels in October were up on September by nearly a third but against October of 2018 remained behind.
Completions affected by new regulation implemented in June 2019 are starting to come through to completion but it has taken a long time to see things getting back to normality.
Decrease in number of active loan brokers
Many Independent brokers have been unable to meet the new regulation requirements for the cut off of December 16th 2019 and the Bank of Spain has been struggling to provide information and a quality service for registration. Application process for brokers has changed significantly in last three months with more requirements now than outlined initially.
Home loans start to recover
Home loans made up a much higher percentage of all new credit in month than for last two months and interest rates remain overall down against last year.
Interest rates remain below 2018
12 month Euribor has edged up marginally last 3 months but remains in minus territory
Read the full article:- Lending in Spain improves in October
