How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily brief -Thursday 28 July 2016
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Average Spanish Mortgage Term Contracts
Data released by the Bank of Spain has revealled how the average repayment term for mortgages offered in Spain has now contracted to levels last seen before 2004.
In 2007, before the crash of the property market took effect, the average mortgage term for a Spanish mortgage stood at 29 years. A number of mortgage lenders were even offering products for as long as 40 years, when certain conditions were met.
However, the latest information available (December 2011) has shown how the average mortgage term currently stands at 285 months - 23 years and 9 months.
Cinco Dias has speculated on the reasons that may have contributed to this, noting that Banks are being put under pressure to only make 'low risk' loans, and as such the longer the term of the loan, the more the risk of the client falling into arreas.
The report also confirms that 18% of all mortgages offered during the 2004 - 2007 period were for greter than 80% of the value of the property.
Following the crash of subprime lending, the mortgage market experienced a slowdown which saw this number fall from 18% to 10% of new business, however the Bank of Spain has found that in late 2011 this rose to 13.5%, with the year as a whole closing on an average of 12.6%.
Latest News & Stories
- Spainís six leading banks all set to pass the EUís stress tests
- EU Drops Fiscal Fines and Sanctions against Spain
- EU Orders Spain to Recover Rail Test State Aid
- Spain Registers First Zika Virus Birth in Europe
- Tensions Heat Up Between NATO Allies as Spain and UK Spat Over Gibraltar
- Spain poised to grow 2.9 percent in 2016
- Vodafone Spain service revenues up for 1st time since 2008
- Manifesto calls on politicians to avoid third election
- Spainís Audit Office says Ä300 million a year being paid to deceased pensioners
- New flights announced Birmingham - Spain
- Dacion en Pago : Handing Your Property Back to the Bank
- The main differences between a Spanish and UK Mortgage
- Buying from an Estate Agent vs a Property Finder
- How Can I Protect Against An Unwise Property Purchase ?
- What is the Euribor ?
- When you canít pay the Mortgage
- How to Apply for a Mortgage in Spain