New mortgages in Spain
Data issued at back end of January showed that Novembers loan in completions in Spain were up over October but down against the same month of last year.
Due to a much higher average loan size in 2020 the overall level of capital lent has held up quite well over 2019. Spanish Banks have seen a net inflow of lending to their loan books despite the challenges being faced.
Low interest rates look to remain
Interest rates are low and stable encouraging borrowers to consider variable rates rather than long term fixes.
COVID lockdowns and travel restrictions will continue to put pressure on numbers December and first few months of 2021.
Most new credit for residential purchases
Level of all borrowing in Spain related to house purchase is high at 70.3% of all lending in comparison to the more normal 60% of all new credit.
Read the full article:-Monthly loan activity Spain
