Mortgage law Spain

Spanish mortgages (-18% year-on-year in April) are at 3%, for 24 years and for €137,000

Marta Pérez Amigot, Economic and Financial Analysis Unit of Ibercaja| The Bank of Spain published a report last week in which it warned of a stranglehold between supply and demand in the housing market, which means that property prices are resisting a fall despite the decline in activity. Two main ideas may be drawn from it: 1) After the initial impact of the pandemic, the demand for home ownership has…

The Supreme Court decides that customers should pay stamp duty -Spanish banks rise 5%

The Mortgage Tax Conundrum in Spain: The Government Corrects the High Court

“Never again Spaniards will have to pay the mortgage stamp duty”. With these words the Spanish president Pedro Sánchez announced a decree law and gave a new twist to the story of who should be responsible for this tax, just a few hours after the Supreme Court decided that it will be the customer’s duty. The way in which the highest court has managed the decision making process puts into question its credibility.

Bad outlook for Spanish banks: they will have to pay the legal costs for mortgages

Spanish Banks Pending On Court Ruling About Legal Costs For Mortgages

Spain’s banking sector lost € 5.560 Bn in market capitalisation yesterday after the country’s Supreme Court decided they woud have to pay mortgages taxes and not the final client. Just 24 hours after, the Court announced they will review the decision. Morgan Stanley calculates that the effect of ruling could reach 12 billion euros.

Spanish mortgages market

When Will Mortgage Lending Stop Declining?

J.L.M. Campuzano (Spanish Banking Association) Data on the Spanish property market reveals the same trend as over the last few months: a moderate recovery in prices, at the same time as sales continue (adjusted for the 2016/2017 calendar difference with respect to Holy Week)