What’s happening in the Spanish mortgage market?

What´s happening in the Spanish mortgage market?  [...]

Spanish banks to drop controversial minimum interest mortgage clause

This minimum interest clause has been widely applied in recent years to variable mortgage loans. The latter are meant to fluctuate with the Euribor rate set by the European Central Bank (at Euribor plus a one percent commission), yet the banks have circumvented this with clauses designed to establish minimum ‘floor’ levels at between 2.5 and 4 per cent.

By |2013-07-10T00:00:00+00:00July 10th, 2013|Categories: Altavista Property, Marbella Property, Property|Tags: , , |