Who publishes the Spanish mortgage news
Each month the national statistic office in Spain publishes data taken from land registry as to the number and types of mortgages completed.
In November 2013 there was yet another month of reduced mortgage lending against residential property. This trend has continued for a number of years but was slightly skewed by the high number of completions in the previous year as buyers rushed to Notary to complete on purchases before tax breaks were withdrawn.
Are there positives to be taken from the data
It is dificult to say whether Novembers data is just a continuation of the previous trends or a blip caused by unusual activity from the same time the previous year.
The first few months of 2014 will dictate whether the corner has turned on mortgage lending in Spain or if we still have a way to go.
What is the current attitude of the Spanish Banks
Whilst not as yet showing in the figures published there is now a desire within the Banking industry to start lending again.
Whilst the past few years have seen Spanish Banks reduce their mortgage books by design, it would appear the tide has turned.
In order to maintain their current customer bases and all the linked products that a mortgage brings Spanish Banks have this year re-introdcued lending targets and appear to have some flexibilty on pricing for the right clients and an improved mortgage service.
Read the full article :News for Spanish Mortgage lending
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