Spanish Prime Minister announces possible suspensions in mortgage repayments due to the Coronavirus outbreak. Current emergency measures due to the virus have seen the closure of thousands of businesses across Spain, leaving many owners and the self-employed in financial difficulty.
Posts Tagged: Spanish Mortgages
Some of Spain’s largest banks are waiting for the European Court of Justice (ECJ) to rule on whether they have charged customers too much for their mortgages – a ruling which could potentially lead to compensation for thousands of mortgage holders.
Existing variable rate mortgage loan holders will see a reduction in their monthly repayments. The Euribor – the rate in which most Spanish mortgage interest is calculated – has plummeted to new lows over the past couple of months, making variable rate mortgages even more appealing for home owners.
Mortgage activity grew in all bar two of Spain’s autonomous regions during March, latest figures show.
Spanish property prices rose by 5.7% in December to €1,459/m2, one of the highest figures reached throughout the whole of 2018, according to the Spanish notaries. As well as rising house prices, the property market also saw positive increases in property sales and mortgage activity.