October 2023 Spanish lending

 Lending in Spain for purchase of a home

Spanish Banks lent slightly more in October over September. Year to date Mortgages in Spain remain at much lower levels.

Across all areas annual loan levels are decreased. Numbers of new loans. Capital lent and average loan sizes.

Interest rates

Spanish interest rate for non resident applicants average 5.5% for variable. 4% for fixed. The 12 month Euribor remains just above 4%.

Spanish Banks

Spanish lenders may see a net outflow to mortgage books for the year. However foreclosure levels remain low.

Read the full article:- Residential lending in Spain

Loans in Spain September 2023

 House sales and loan levels decrease in Spain

Both house sales and spanish mortgage levels have fallen up to end of September 

A number of factors are affecting the Mortgage in Spain market. High interest rates. Visa limitations for UK nationals. Worldwide Inflation.

France and Spain looking to improve visiting Visas for second home owners

 France and Spain are talking about changing visa requirements for second home owner. This may help kickstart the non resident mortgage market where buyers are from UK.

Spanish Mortgage numbers up on August levels

Numbers of new loans. Also capital lent was up in September over August. This is normal. Year to date Spanish loans are well behind 2022.

Spanish Banks

Spanish Banks saw another net putflow to their mortgage books in the month.

Read the full article :- Mortgage Completions Spain

Mortgages in Spain August 2023

Spanish lending levels reduced

 Mortgages in Spain saw a further month of decreases. In terms of numbers of, also capital lent and average loan sizes.

Economic pressures are affecting the level of buyers of homes and lending requirements.

Interest rates 

Choosing the right product type for now and the longer term due to interest rate volatility has become more difficult. Non resident mortgages in Spain are available. Variable, fixed or mixed rate products are the option.

A full understanding of these before making a decision has become crucial for those going through the application process in Spain.

Spanish Banks

Spanish Banks have reduced margins above Euribor. However they are currently experiencing net outflows to their mortgage books.

Read the full article:- Downward trend for Spanish Mortgages

July 2023 home loans in Spain

 Home loans in Spain saw a dip in July

Whilst it is normal for July to be below June this is another consecutive month of decreases.

High interest rates are hitting the resident and non resident mortgage market in Spain.

Spanish Banks reduce average margins

Banks are negotiating on rates. Dropping average margins above Euribor to 1.5%. From 2%. Alos retaining reasonable rates on long term fixes.

Mixed rate product types in Spain

A couple of lenders are also offering mixed rate product types. Shorter term fixes for 3 to 5 years. Followed by variable. Giving borrowers in Spain opportunity to stabilises monthly payments today. Retaining opportunity to take advantage of rate drops in the next few years.

Spanish Banks saw another month with a net outflow of capital lent

Read the full article:- Spanish loan levels drop July 2023

Spanish Mortgage lending in June

 Lending in Spain decreased in the month June

Numbers of new loans were down 21.9% against same month of last year.Year to date the market has decreased significantly. This despite a good start to the year.

Interest rates and economic issues in Europe are having an impact

Spanish Banks are tightening credit. However lenders are more focussed on better rates and conditions for strong applicants.

Bank of Spain

The Bank of Spain last quarterly report indicated a sluggish housing market.

Euribor decreases

The Euribor decreased slightly in September but this is not yet a trend.

Read full article:-Mortgage lending tightens in Spain

Mortgage lenders in Spain

 Spanish Banks

Spanish Banks saw an upturn in mortgage business in May 2023.

Whilst above Aprils figures they are still a long way behind last years.

Fixed rates versus variable

Spanish mortgage borrowers may still find fixed rates the best option. Many new applicants are opting to contract the loan on fixed rate basis.

New Mortgage in Spain applications

On the non resident side the quality of new applicants is not good. This is at same time as Bank criterias tighten. 

Recent survey UK

A recent survey in UK showed home ownership abroad since Brexit has fallen significantly

Read the full article:-Spanish Mortgage Lenders 

Spanish lending April 2023

 Spanish lending figures in Spain

INE data showed yet again another month of reduced lending in Spain. Spanish mortgages remain under pressure.

Interest rates

High interest rates continue to subdue market. However fixed rates can still be gained for full term. With average rates for fixes at 4% for 20 years.

Spanish Banks

Spanish Banks are not seeing despite rate rises higher repossessions.

April 2023 Mortgage figures Spain

March 2023 lending dips in Spain

 Lending in Spain for March

March saw a big dip in completions for Spanish loans.

Interest rates are affecting the level of new loans

Published interest rates do not seem to match up with current reality. Average rates over a 25 year term are not realistic. Spanish Banks charge a margin above Euribor. The 12 month Euribor has been higher than the average rate for some months now.

Spanish Banks

Spanish lenders have started to see a net outflow. To their mortgage books. This has not happened for a few years now. 

Read the full article:- Interest rates in Spain affect lending levels March

Interest rates in Spain

 Spanish interest rates rise

Rates in Spain still appear to be a long way behind recent rises. 

In february 2023 they were reported at average 2.86%. This is some way behind current 12 month Euribor levels.

Fixed rates in Spain

Fixed rates still appear to be good value for money. Non Euro earners can still obtain fixed rates. Lenders offering this limited.

February Mortgages in Spain

Mortgages in Spain reduced in numbers for February. This is a reflection of the market challenges

Some good news for non resident borrowers in Spain

One lender who previously could not lend to US citizens has now removed this restriction

Read the full article:- Spanish Interest rates

Spanish lending first month of 2023

 Mortgages in Spain for January 2023

Lending in Spain was up against December and January 2022. The increases were high against last month. However marginal against last year.

Interest rates Spain

Interest rate information issued by INE dont appear credible. Published data on average rates does not seem to reflect the rises in Euribor. 

If accurate, it is hard to see how Spanish Banks are making a margin.

Interest rates may continue to be under pressure. Due to external and internal pressures.

Spanish Banks

2023 may see relatively static lending figures. Spanish lenders will be setting targets before end of quarter one.

Read the full article:- January 2023 mortgage in Spain

Spanish loans for 2022

 Mortgages in Spain December and full year results

Spanish loans increased in numbers for the full year of 2023.

Spanish Banks saw a net increase in their loan books. This was despite the years increase not being as high as anticipate. Redemptions were also lower.

Decembers loans

December Spanish loans were down on Novembers but against same month of last year.

Interest rates rose slightly due to increasing euribors.

Spanish mortgages for non residents

In the data was included Spanish mortgages for non residents

One lender launched a new product in tye month. Providing fixed rates for certain currency earners. Alos the option to take a currency loan.

Read the full article:- Spanish Loans

Mortgages in Spain November

 Spanish Mortgage

Mortgages in Spain saw reduced levels in November. There is some suggestion the market might be cooling off.

Spanish lenders may miss yearly budgets

Spanish Banks will struggle to make lending targets. Whilst annually there is an increase in loans it is not as high as anticipated.

Interest rate information questions of validity

Interest rate information suggests either lenders in Spain are narrowing margins significantly. Or the data is not correct. An average rate of 2.55% was recorded in the month.

As a mortgage product type Fixed rates remain the choice of borrowers. This may change because of higher redemption penalties.

Loan books in Spain increase in month

For the month Spanish lenders saw a large increase to loan books. Because cancellations and redemptions were low.

Read the full article:- Home loans Spain November

Spanish lending in October 2023

 Economy not impacting on Mortgages in Spain

Despite some of the economic pressures Mortgages in Spain remain stable.

Interest rates remain low

Interest rates have barely climbed even though the euribor has risen. This may be because Spanish Banks are taking lower margins.

Fixed rate products remain the chosen mortgage product type. Variable rates however came in at 2.10% suggesting margins above euribor as an average are between 0.50% to 0.75%.

Spanish Banks

Spanish Banks also saw a healthy inflow of loans. New mortgages constituted were well above those cancelled.

Madrid, Canary Islands and Balearics saw big increases in the month.

Mortgages in Spain for non residents remain under pressure. Mainly due to Brexit and regulations surrounding currency fluctuation.

Read the full article:-Spanish lending beginning of last quarter