Released today are the mortgage figures for Spanish Lending within the month of February.
Despite some positive news reported this week relating to the overall situation of Spanish Banks this has yet to feed through to an increase in new loans constituted.
The data which is taken from land registry is always a little behind the curve as it can take up to three months from completion for Land registry to report, but looking at year on year figures the trend is still downwards.
Year on year mortgage figures
Year on year the number of Spanish loans have dropped by 32.7% in comparision to last year and 33.7% down on capital lent.
Interest rates
Average interest rates at 4.11% is slightly down on Januarys average rate and is the lowest average rate for Spanish Loans since March 2013.
44.5% of all mortgage products granted related to residential loans showing a higher split of all loans relating to other Urban properties which suggest an upturn in commercial lending.
Regional variations
The Balearics continues to be the region where the decrease in mortgage activity is at its lowest on a year on year basis which ties in with this regions better than average house sale performance
Read the full article : February mortgage news for Spain
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