Bank of Spain
The Bank of Spain who supervises Bank lending published the Q4 2019 survey of lenders in Spain.
The survey showed the Spanish Banks stating there had been a drop in demand of borrowers going through the application process and that credit had tightened slightly for household borrowings.
Spanish Mortgages downturn
The Banks put the downturn on demand of Spanish Mortgages to uncertainty across economic factors rather than new regulatory requirements.
Interest rates remain competitive
Interest rates remain low and in negative territory for the 12 month Euribor whilst access to fixed rates for the full term for non Euro earners continues too narrow.
UK borrowers will now struggle to get a fixed rate at 70% loan to value although a couple of lenders do remain in general they will only offer variable rate options.
2020 looks to be a challenging year
2020 looks to be a static year for Mortgages in Spain with Spanish Banks reporting they see no upturn in demand and the largest fall off of enquiries since 2013.
Read the full article:-Bank lending in Spain
