Mortgage concessions increase every month of the year in 2015
During the last month of 2015, a total of 19,362 mortgages were conceded, which was an increase of 21.1% from the previous December.
Additionally, 0.6% more mortgages were awarded in December last year than during the previous month. This is something that hasn’t happened in four years, since typically more mortgages are granted in November than December.
Thus, December has become the 19th consecutive month in which the number of mortgages awarded has risen annually. This has been the case since May 2014, therefore, last year was the first whole year during which the number of mortgages went up each month.
In 2015, a total of 224,827 mortgages were awarded throughout the year, which is the highest figure since 2012. From the previous year, this is a growth of 19.8%.
With statistics like these it is clear to see that not only has the property sector recovered with a greater number of properties being sold, but the finance sector is also in a much healthier state than it was before too.
Figures have revealed that more and more mortgages are being granted as a greater number of property purchases are taking place, the average amount of a mortgage loan has also gone up and interest rates are at their lowest.
With the Euribor at its lowest rate ever, we have seen that the number of fixed mortgages being taken out has gone up, although the majority are still of a variable rate.
While this is positive news for the real-estate sector, we should still take into consideration that between 2004 and 2007 more than 1 million mortgages were taken out each year. The aim now is to beat the maximum figure of 411,494 registered three years ago.
The greatest number of mortgages granted in December was in Andalucía (4,137), Cataluña (3,312) and Madrid (2,904).
In total, 11 of Spain’s autonomous regions registered a growth in the number of mortgages taken out in the last month of 2015 that was higher than the average of 21.1%.