This week Bankinter announced changes to its pricing for Spanish Mortgages.
What are the key changes and are they up or down.
Bankinter are dropping, for the first time since the crisis in Spain began, the margins they are charging above Euribor.
This is the second positive sign that the mortgage market may be opening up again after last week BBK announced they were moving back into non resident lending and launched new products.
Why are the Banks starting to look at lending again.
In the longer term it is important Banks in Spain provide mortgages as this is what brings new clients to their customer base and opens up the opportunity to cross sell other bank products.
It is equally important for Spain as a country that they have a competitive and accessible mortgage market to attract foreign investment into the construction industry. There are some real signs that buying property in Spain is again on the increase but along with cash buyers those requiring credit need to be welcomed back.
Who will benefit
All potential applicants will benefit from the changes but by far the biggest benefit will go to those clients who orginate from Scandanavia.
View full artcile about Bankinter Spanish mortgages
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