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Spain : Personal mortgage offers increase in May

Mon 26th Jul 2010

The value of the mortgages for private homes in Spain increased between April and May, official figures relased today reveal.

The statistical office - INE - reported that the value of personal mortgages increased 11.6% month-on-month to EUR 6.4 billion. In terms of volume the number of housing mortages had increased by 10.8%.

The overall value of mortgage loans offered in May totaled EUR 11 billion in May, up 7.1% from a month ago. In terms of volume total mortgages had increased by 11.3%.

Spanish Cajas granted over half the number of mortgage loans in May, while banks loaned more than a third of the total. In terms of value, savings banks accounted for almost 46% of the total.

On a yearly basis, housing mortgage value fell by 7.2%, whilst total mortgage values fell 15.2%.

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