Spanish Mortgages July figures

 Loans in Spain

Spanish mortgages for July were a mixed bag of results.

Spanish Banks hopeful for full year figures

Spanish Banks are looking to see mortgage levels increase and at the moment whilst this is happening to a degree the movement is slow.

Lockdown travel restrictions due to relax

It is hoped as the lockdown restrictions on travel cease for the summer months more non resident mortgage applicants are encouraged to come and buy property.

Mortgage applicants are prepared

Many applicants for a Mortgage in Spain have already put in place a fiscal approval in anticipation of being able to visit Spain.

End of year should see some increase in the Spanish housing market and loan applications.

Read the full article:-Spanish loan data July

Purchase taxes Spain

 Andalucia tax break due to finish

At the beginning of 2021 Andalucia reduced purchase tax to kick start the housing market and mortgage activity for Spanish Banks.

What tax breaks were there

Reducing the flat rate from 8% to 7% and taking away the sliding scale of increases.

Is the tax breaks finishing end of 2021

It has not yet been confirmed but this tax break will most likely finish in December. No announcement has been made as yet to any extension to the policy.

Spanish Mortgage applicants will run out of time

For those buyers taking a mortgage to buy time is now running out to organise the documents for the Spanish mortgage application and be ready to complete in time.

Read the full article :-Purchase tax breaks due to finish in Spain

Regulated Mortgage brokers Spain

 Benefits of using a regulated loan broker in Spain

Since July 2019 only regulated mortgage brokers in Spain have been able to shop around and make an application for a Spanish Mortgage with a range of Spanish lenders.

All other intermedaries may only direct a client to a set bank and cannot intervene in the application process.

Spanish Mortgages

As Spanish Banks rarely have set products a broker who can negotiate with a range of lenders and negotiate bets terms and conditions possible is a must.

As a direct client you may not be aware fo how far you can push a lender on terms and conditions.

Don't pay up front fees

A good broker will only charge on delivery of a mortgage approval. There is no need to pay fees up front.

Read the full article:-Non resident mortgages in Spain use a regulated broker

Loans in Spain September 2021

 New Spanish Mortgages 

New loans in Spain saw a big increase in September over both same month last year and August this year.

Over last year the number of new Mortgages in Spain increased by 57.78%.

Spanish Banks see increase in mortgage applications

Spanish lenders have seen a marked increase in mortgage applications for the residential housing sector.

Commercial and development lending remains under pressure.

Interest rates low and stable

Interest rates are low and stable. Average home loan rate over a 25 year term was 2.47%. Variable rates were 2.19% with fixed rates 2.65%. Over 70% of all new lending was lent for the purpose of buying a home.

Read the full article :- September 2021 mortgage data Spain