Aprils loan levels Spain
Aprils Spanish lending levels were down again on March and it is anticipated a further fall will happen in May.
Spanish Banks net inflows
For Spanish Banks whilst new loans are well down some 18% the number of redemptions has halved from normal levels so there was a net inflow onto the mortgage books.
During lockdown little happened by way of completions and land registry will also have been shut so there will be a delay in processing completions.
New enquiries increase
New enquiries are bouyant but this is just people preparing themselves for a possible purchase later in year. Few new applications were submitted in April and May.
Interest rates
Interest rates held steady and for second month in a row fixed rate product types outstripped variable rates. This is a massive change from the situation 5 years ago when fixed rates made up less than 5% of all new Mortgages in Spain.
Read the full article :- Covid 19 impacts on 2020 Spanish loan levels
