Mortgages in Spain first month 2022
Home loans in Spain for January showed an increase over December 2021 and for the same month of last year. However the percentage increase was not as high as would be normal.
Fixed rate product types
As a product type fixed rates have now taken over variable rate lending contracts. In a complete turnaround to even 5 years ago fixed rates now make up more than 70% of all new loans granted.
With the Euribor rising and a likelihood of an ECB rate change at some point both Spanish Banks and borrowers are looking for the stability a fixed rate provides.
Slow down in new enquiries
With many challenges, Ukraine war, Covid and impact of Brexit potential borrowers undertaking the mortgage application process in Spain is very slow so far this year.
Read the full article:- Mortgages in Spain January 2022
