Almeria is the province where more mortgages are realized
23.06.2008
The capital almeriense is one of few Spanish places where the mortgages valuation has not stopped growing. These Andalusians are afraid to invest neither in the brick nor in times of economic deceleration.
Last year there signed mortgage loans 54 of every 1000 inhabitants, an important valuation if we bear in mind that the citizens every time are more reticent on these credits.
Four years ago constructed themselves 2.000 real estate. One year later 11.000 and in 2007 5.700 housings began. Since they see, in this place one speaks neither about credit crisis nor about worsening of the financial system.
Although to that the descents in the construction are notable at national level, Almeria is the province where more work they have the cement, the cranes and the real estate agencies.
As for mortgage loans it is the pioneer in Spain. It has an average of 53,6 credits as every 1000 inhabitants, overcoming even Toledo and Castellón.
The cooling of the buyings and sellings and the absence of liquidity are the causes which the operations of deals of housings have gone down so much in our country. Although the situation on the market almeriense really is paradoxical.
The experts do not go out of his astonishment and point out that the reasons can be related to the costs of production and the commercial strategies of the companies of this environment.
Route: Ideal
Caixa Sabadell throws the “Mortgage summer Reductions”
23.06.2008
For an end a banking institution that thinks about the citizens. Caixa Sabadell has come to an agreement with some promoters to impel the buying and selling in a few unbeatable conditions. This aggressive discount undoubtedly will give that to speak between the banks of his environment.
It is named “he mortgages summer reductions”. They will not deny that it is much according to the months that come closer. A period that is characterized especially by the low consumption.
Any more than ten years since a sudden braking was not ever appreciated in such a big real estate sector, for what the most ancient savings bank of Catalonia has decided “to throw the house away”, rather.
The product allows to the buyers to assume of more comfortable form the expenses that stem from the acquisition of a building, such as are the record, the notary, the tools, the domestic appliances …
As we could have known, in the form trienal the types are located concerning 3,25 % and 4 %. In the five-year one the numbers range between 3,25 % and 4,25 %.
Caixa Sabadell has in mind always to apply the most favorable type for his client. With this information, this one will save during the first twelve months 28 % (in both forms).
This box tries to put within reach of all the best conditions so that they could have the house of his sleep. The “mortgage summer reductions” can turn out to be an ideal financial solution in the next months.
Route: EFE
The Group Santander prospers in spite of the crisis
23.06.2008
The first Spanish bank, the Santander, is supported in spite of the credit crisis. While for other entities a new day means new losses, for the bank at that he presides Emilio Botín only there is positive information for the future of his economy.
Santander defends his forecast of growing this year more than 15 %. He hopes to leave behind his benefits record despite the bad current financial situation. Booty presumes for it of “the soundness and the capacity that they possess” so that not even the perturbations of the market have made him change his plans and strategies.
His position opposite to his most direct competitors they turn him into a privileged bank “with a potential of tremendous organic growth” in words of his president.
For him there are no economic difficulties not lacking in liquidity. Also, the increase of his accounts rests more in his international branches than in the Spanish territory. Booty is very proud to be the seventh bank for capitalization of the world and to be between the five first ones of the world for benefits.
Although his aspirations go further away: to turn into the third bank for benefits, behind the Chinese ICBC and the Briton HSBC. Let's hope that there should be luck in this managerial adventure and that the deceleration should not splash his growth avidity, as to his rivals.
Route: The Country
The Spanish banking needs more financing
23.06.2008
The engines of the economy are paralyzed. At present the deceleration that experiences the financial market has prevented Spain from being able to overcome the wealth of France in two years, as they were aiming at the forecasts of the Spanish Executive.
There is crisis. And this one has struck one of the most important props to be able to prosper: the real estate sector and of the construction.
The principal indicators of the economy only detach negative and worrying information every day. You code to the rise that they worsen the pocket of the families and the individuals. There is no place for the optimism. In May it closed with happy moments and illusion, but in June the light has not been seen. The absence of liquidity is so serious as the slowness and the numerous sequestrations.
The entities of our country need 62.000 million euros more to pay his debts at the end of the present year. Only they stay six months so that he conquers the term.
The banking has given money to his clients but in turn it has to assemble it (and with benefits) to pay to his creditors. But these entities need too many funds to amortize the expirations and also to give his users.
Finally, there is “drought“ on the market and the valuation of doubtful non-payments grows. If the financial markets do not normalize, the prices will reach excessive levels in a brief period of time.
Route Europe Press
The differential on the Euribor also increases
23.06.2008
The current economic crisis is leaving more that I empty the pocket of the Spanish. To open a mortgage from one month to other can change in 550 euros. He codes one more than considerable if you add to him the letter of the car, the expense in feeding, the school of the smallest of the house …
We confront a quite negative panorama: it raises the price of the fuel and that of the prime matters, and that of the mortgage loan puts himself for the clouds. For more inri the Euribor it has marked in the present month his historical maximum. And the banking institutions have not hesitated to increase the differential that is applied in the above mentioned index. Thus to hire a credit to buy a housing not only is a thorny task, but also the economic failure of many persons can prove.
The Spanish Bank has pointed out that the financial institutions have raised in last month up to 2,61 per cent the opening commission, at the time that they have hardened the conditions to grant the loans. Now they demand more requisites and guarantees to finance his clients. The most amazing thing is that also they have increased the differential that is applied on the regarding European index of most of mortgages in Spain. We must remember that to the economic index, already it should be Euribor, Libor or IRPF, another percentage is added to him so that the interest of the mortgage should always be over the mentioned reference index.
Well, since at present it is riskier to give money, the entities use this measurement to be protected. It seems that the profit for the crediting was not adapted in the times that they run … It will be necessary to ask the mortgaged ones what seems to them that also it raises the differential …
Route: EFE
The housings cost now less than when they were acquired
22.06.2008
There has fallen down the value of the assets of the housings that were acquired in the last three years. This is, from the same moment as the Euribor it has begun experiencing a tendency to the unstoppable rise.
The banks are reticent to give money, and the imbalance between the offer and of the demand it has made to raise the mentioned mortgage index. The worst of all this conjugation of negative factors is that the citizens cover the danger of entering negative capital. This means that his financial debt would be over the current value of his building or patrimony.
The advisable thing is that the banks grant mortgages for 80 % of the value of appraisal of the apartments and not for 100 % and 120 %, which is what has been done. For it, if these evaluations weaken, the credits of many families and individuals remain over the capital that they would get for the sale of his housings.
As there has estimated the general manager of Caixa Catalunya, Adolf Todó, the Euribor is going to continue in clear ascent and there fits the possibility that in less than one year it is located in 6 %. Obviously, the measurement of the European organism of raising the types is not the best strategy to reactivate the economy. But it is necessary to emphasize that one of the priority orders of the central bank in having under control the inflation. It seems that there does not enter his tasks the price of the mortgage or the credits the consumption. “Only he stays awake so that the commodities are supported in reasonable costs for the citizens and the companies”.
Route: EFE
I agree other one of “Young Mortgage”
22.06.2008
The Town hall of Ejea of the Gentlemen and Multibox they have signed an agreement so that the young people of this Aragonese municipality could gain access to his first housing with serviceability and with a mortgage realized almost to measurement.
Inside the program “Young Mortgage” it is foreseen to facilitate the conditions at the time of turning into owner. The mayor of this locality, Javier Lambán, has wanted to be grateful to him for the good disposition of the banking institution for his effort and determination in the signature of the agreement. Also he has added that Multibox demonstrates with this attitude the “highest sensibility towards the rural environment and towards the neighbors of Ejea” and particularly towards a sector of the population who is the one that has more difficulties to buy a building.
Multibox is much established in Aragon and supports a narrow collaboration with the municipality ejeano from time behind. This entity has admitted that although the conditions of the market are not the ideal ones to offer loans of this type, they wanted that this group could gain access to a housing with preferable conditions. By it in the agreement a mortgage is proposed of up to 30 years and that it covers hundred for hundred of the value of the appraisal.
The act took place in the pavilion of the County council of Saragossa in the enclosure of the International Exhibition (EXPO Saragossa 2008)
Route: Europe Press
The “First Mortgage” grows in Balearics
22.06.2008
We are used to negative information every day. Nevertheless, today we can move forward to them that in Balearics there has been signed 58 more % of mortgages than in the same period of last year.
The Balearic young people is not afraid about confronting the payment of this quota monthly. Although also non-payments have taken place in this type of loans, the government at that Francesc Antich presides proves to be an optimist.
We are before one of little positive information therefore to the financial market it concerns. The Balearic Government offers “the First Mortgages” and in what goes of year it has already endorsed 71 citizens of the islands. 23 % has been formalized more than when there was offered the “Mortgage Jove”.
From the Commission it is argued that with the current offer the young people does not assume so much risks and the conditions are improved. This way it is normal that the fear of the economic crisis shines for his absence in this place.
The Balearic Executive has declared that the cooperation between the Commission of Housing and the Department is very favorable for the whole population. Also he has thought that there will not be problems to continue with these performances and power helping the young people to gain access to a proper housing.
It is necessary to recognize the good work that develops in this community.
Route: The Country
“You mortgage Garbage”
22.06.2008
The cases of detentions for fraud on the mortgage market also have taken place out of our country in this penultimate week of June. According to the department of Justice of the United States a network responsible for the so called ones has been dismantled “you mortgage garbage”.
More than 300 persons have been detained in a big operation qualified “Malignant Mortgage”. So that we do an approximate idea to ourselves, we can define the “mortgages garbage” as “mortgages of high risk”, name for the one that also they are known, since there are granted clients of few economic solvency or scarce guarantee.
In the USA three types of illegalities have been identified: fraud in the credits, rip-offs on rescues of sequestrations and suspension of deceitful payments.
The mortgage fraud calculates that it amounts to 1.000 million dollars. The investigations have lasted three months and a half and have revealed all kinds of swindles, like loans of rescue to individuals and embezzlements in deals inside the real estate sector.
They cover bad times for the mortgaged ones and for the economy in general. The “mortgages garbage” also join this tendency in which the debts in the payments and the frauds are our bread of every day.
The principal question which the international financial system faces now is how long the mortgage crisis is going to last. A crisis that it is hurting seriously to the Spanish real estate sector and to his economy.
Route: Five Days
The mortgage imposes the mini-holidays
21.06.2008
There are small those who are going to enjoy this summer period of a few good holidays. And the fact is that the awesome mortgage has forced numerous families to be resigned to so awaited moment.
Specifically 53 % of the mortgaged ones will have to bet for the so called "mini-holidays" of 2 or 3 days, due to the unstoppable ascent of the Euribor and the rise of the prices, the food and the gasoline principally.
It seems so the crisis of the international financial market spends invoice to all. The families and the individuals will have to press the belt little more next months but they want to see completely in red numbers his pockets.
In summed up accounts, to support a normal standard of living is impossible after acquiring a housing with a mortgage indexed to an index that every day is more unstable.
The familiar tourism is one of the most spiteful. It is already not so habitual to see entire families in restaurants “throwing the house away”, as it usually to say. Now innkeepers frequent in minor measurement the business. The economic crisis has done notch in those that more expenses have every month. For these, taking a vacation is a luxury that not every year can be allowed.
In short, the holidays are one of the first things of which the citizens get rid, although with many sadness and resignation, since to pay a housing needs a major effort.
Another year they will be. The mortgage drowns.
Route: Europe Press
