“The financing is consolidated, but will be more expensive and with tougher conditions”
Mortgage Statistic data published by INE for the month of February reflect a 2.7% fall in the mortgage concession compared to the same month of the previous year, the first one recorded in the last seven months.
According to Beatriz Toribio, responsible for studies fotocasa this fall should not set off alarms because “the consolidation of mortgage finance is already a fact. Downgrades like the one we know today are typical of the normalization to which all the parameters that revolve around the mortgage market.
“In 2017 will continue the good moment that the financing lives, but it should not be forgotten that the year has started with an increase of the mortgage loans and a tightening in the conditions of the same is expected as a result of the last judicial judgments that affect The banking sector, “as the Bank of Spain said yesterday in the ‘Bank lending survey’.
“But today, it is expected that all this will have a limited effect on the good progress of financing, which is essential for the recovery of the sector,” he concludes.