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Spanish mortgage rates fall for tenth consecutive month

Spanish mortgage rates fall for tenth consecutive month

Euribor is the interest rate most commonly used to calculate mortgage payments in Spain and is used for both variable and fixed rate mortgages. Mortgage base rates fell again in November, coming in at -0.074 down from -0.069 in October, the tenth consecutive month of negative rates.Low mortgage rates in Spain are creating a golden moment to invest in Spanish property with a long-term fixed interest loan. Compared to November last year ... [Read More]

Spanish mortgage interest rates set to remain low for 2 more years

Spanish mortgage interest rates set to remain low for 2 more years

Driven by increased activity in the Spanish property market over the last 18 months, analysts believe the record low level of the Euro Interbank Offered Rate, or Euribor, could be prolonged for at least another two years and fixed rate mortgages could continue to grow in popularity in Spain.In September, Euribor's average rate was a record low of -0.057%, the eighth consecutive month in negative territory. While the general expectation was ... [Read More]

Spanish GDP grew by 3.2% in 2015

Spanish GDP grew by 3.2% in 2015

With steady price increases, a hike in investor demand and a strengthening economic climate overall in 2015, experts predict that Spain will see further improvements in 2016.Recent data published by the National Statistics Institute (INE) confirms that the Spanish economy grew by 3.2% in 2015, which is the fastest rate since before the global economic crisis hit in 2007. The data reveals that the economy grew a further 0.8% in the fourth ... [Read More]

Mortgages in Spain: A Brief Overview

Mortgages in Spain: A Brief Overview

Mortgage LendersNumerous lenders operate in Spain offering a variety of mortgage plans. Financing can be obtained from national banks, savings banks and international banks, including British banks like Barclays and Lloyds TSB, all of which offer differing costs and contractual terms. Although interest rates are calculated according to the base rate set by the European central bank, mortgage lenders are free to set their own charges and ... [Read More]

On Being a Spanish Tax Resident: 8 Important Points

On Being a Spanish Tax Resident: 8 Important Points

1. If you reside in Spain, or if you own a property and are non-resident, you need a Numero de Identificación de Extranjeros (NIE). The fiscal identity numbers displayed on this green card identify you to the Spanish taxman and are required to work, pay taxes or have any dealings with the Hacienda (Spanish tax office).2. In order to prove fiscal residency in Spain you need a Certificate of Fiscal Residency granted by the Agencia ... [Read More]

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