News: Costa Blanca mortgage lending up in May

According to the latest data from the National Institute of Statistics (INE), a total of 29,012 home mortgages were taken out in May, for which the banks loaned an average capital of 113,645 euros.

Home mortgage loans in Spain increased by 9.2% in May, while new mortgages registered in the Costa Blanca region amounted to 1,372, representing an increase of 19,7% compared to May 2016.

Further positive news is that while previously mortgage rates varied significantly from region to region, May saw an upward trend in loans in all of the 17 Spanish regions. This means that more credit is being extended to house buyers in all Spanish regions this year.

The Euribor remains the major type of reference, as it was used in 94.4% of the contracts.

If you are looking to buy property on the Costa Blanca, talk to us today! We can help you find what you need in Torrevieja, Orihuela Costa, Pilar de la Horadada and more.