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Spanish economy expected growth in 2017 revised from 2.6% to 3.1% by IMF

Spanish economy expected growth in 2017 revised from 2.6% to 3.1% by IMF

The International Monetary Fund (IMF) revised its previous forecast of a 2.6% growth in the Spanish economy this year to 'at least' 3.1%.The revised figure reflects a period of strong consumption, investment and exports in Spain that has helped sustain a smooth economic recovery for the country.The world banking institution predicts that Spain's gross domestic product will surpass pre-crisis levels in the second quarter of this year, ... [Read More]

Self-Build Mortgages in Spain

Self-Build Mortgages in Spain

Encouraged by increased demand for Spanish property, Spanish lending institutions are now offering a variety of accessible funding schemes to property investors. Self-build mortgages are particularly contributing to the increase in new-builds along the Costa del Sol and are an excellent option for investors looking to design and build their own homes on the southern Spanish coastline.A self-build mortgage is a home loan taken out on a ... [Read More]

Mortgage lending in Spain rises by 10 percent in September

Mortgage lending in Spain rises by 10 percent in September

Mortgage activity in Spain rose by 10 per cent in September, according to the country's central statistics unit. Mortgage for residential property in Spain appears to have achieved a level of stability and gradual month by month growth in all 17 regions.In September, the number of mortgages registered on residential properties was 26,667, an increase of 10% over the same period last year. The average loan capital also rose by 2.2%, rising to ... [Read More]

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]

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