Spain lending falls 33%

Home | Contact Us | Our Services | About Us
Europa Mortgages - Spanish Mortgage in Spain
Need help with your mortgage? Use our 24-Hour Helpline - Call (+34) 637 451 649
Home
Mortgage Services
Mortgage Enquiries
Mortgage Guide
Mortgage Calculator
Interest-Only Mortgages
Spanish Commercial Finance
Financial News
Documentation Required
Euribor Information
Mortgage Resources
Spanish NIE Numbers
 
Foreign Currency
Foreign Currency Exchange
Foreign Currency in Spain
Practical Steps
Overseas Mortgage Payments
More Advice on Currency
 
Spanish Property
Spanish Property
The Village
Spanish Property Rentals
Buyers Guide
Inheritance Tax
Useful Spanish Phrases
Need a mortgage in Spain? Get more information now.
Spain lending falls 33%


News Article Date: Monday 03rd of August 2009

MADRID, July 28 . - Spanish mortgage lending dropped 33.4 percent year-on-year in May, as the pace of decline slowed from the previous month's record contraction, the government's National Statistics Institute said on Tuesday. May mortage lending dropped to 6.98 billion euros ($9.97 billion) amid soaring unemployment and sliding house prices. The average value of mortgages conceded during the month was 14.4 percent lower than a year earlier at 135,749 euros. The data followed a record decline in mortage applications of 52.6 percent in April and a 32.2 percent fall in home sales in the same month. Spain's housing market, which provided the motor for a decade of vigorous growth, has gone into a deepfreeze as banks restrict lending.

- • -

For advice and a free quotation please fill out a Spanish mortgage enquiry.

Home | Mortgage Enquiries | Our Services | About Us | Contact Us | Mortgage Resources
Europa Mortgages - Tel (+34) 637 451 649 - Fax +44 207 681 1265
© 2004-2007 Europa Mortgages SC (CIF - G92654250). All rights reserved. No unauthorised copying permitted.

 
Web Design in Spain by abOriginal