Beginning of 2020 looked positive
January Spanish loan figures looked to be a positive start for the year.
In most areas lending was up in terms of numbers of and capital lent despite the fact the average loan size fell quite heavily.
there were nearly 10 thousand more new loans added the Spanish Banks loan book than redeemed in the month and after many months of delayed completions due to new regulation things looked to be getting back to normal.
Interest rates stable
Interest rates were stable very close to Decembers rates and slightly down on last year. Variable rates were still the choice of most borrowers with fixed rates stabilising in last few months at around 42% of all new transactions.
Madrid after a very positive 2019 had smaller levels but other areas saw significant growth.
Impact of Covid19 on the Spanish lending market
COVID 19 and the shut down of Spain will cognate all this as completions started to dry up back end of February and new applications are more or less zero.
What impact for the full year this will all finally have is unknown at present but for sure 2020 will now be an even more challenging one than 2019.
Read the full article: - Spanish loans the calm before the COVID19 storm
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