Spanish property sales up 11.1%

abril

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Bank chasing you over your mortgage on your property in Spain

Few clients escape legal action by the bank when it comes to mortgage default. Not even property owners who hand over their keys to the bank and return to their home countries, victims of the financial situation in Spain and with no family or social resources here to fall back on. But the banks have all the time in the world and the law does not prevent them from following up a legal judgement in another country.
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Spanish banks starting to give mortgages

It appears that finally banks are starting to lend again to those looking at buying Costa del Sol properties. Although more demanding of proof of income, etc… slowly but surely the financial taps are being opened, with up to 100% offered in certain cases.

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Euribor and Spanish mortgage news

Euribor (12 months), the interest rate normally used to calculate mortgage payments in Spain, fell 1.4% in October to a record low of 1.243%.

Euribor has now fallen for 13 consecutive months, and is 76% lower than it was a year ago. The graph above illustrates how dramatic the fall in Euribor has been.
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