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To be mortgaged is better in Gallicia

In Spain the state fall of the real estate sector is 39,6 %. And there is a community that stands out for his relative stability: Gallicia. Here - the fear of getting into debt with the mortgage comes down to 16 % less than in the rest of the country. Although they all have in common something: how to come in order month with payrolls that cannot confront the payment of the mortgage in most of the cases.

The numbers of the Galicians allow them a certain relief. It seems that these do not show so many fears at the time of acquiring a housing. But it is necessary to highlight that in the whole national ambience the sale of new apartments keeps on standing out on the secondhand ones. And the fact is that everybody wants to release a hearth.

The prices are more accessible in Gallicia and this way the marriage with the mortgage is more habitual. We do not mean that the crisis of the brick does not affect this community, but the regression is slower than in other Spanish areas. According to the National Institute of Statistics (INE), the number of mortgaged housings has lowered 22,2 % and they are many other persons who are not afraid to be mortgaged. Also, more than half of the operations of buying and selling is done in housings of new construction.

The buy of an apartment is a very important decision if we bear in mind the instability of the Euribor and of the real estate market. At the same time, anyone is not a suitable candidate for eyes of the banks. These think it more than two times to give the money. It is no wonder, therefore, that the loans demand has gone down on all the markets and in major proportion in the mortgages.

Route: The Galician Mail

Mortgage trick in the islands

The inhabitants of Canaries are not very satisfied with his current government. A few months ago the regional president promised them that it was going to assume the cost that was implying changing the loan of the housing of variable interest to fixed, but everything has remained in the inkwell.

They feel cheated after verifying that Paulino Rivero, who leads the Government of Canaries, has lied to them.

On October 23 of last year they remained much surprised by the changes that were promising to be to improve the awesome mortgage debt. Nevertheless, the surprise is today a major day, when the offer of the change of mortgage has not been fulfilled, it will not even be fulfilled.

The citizens were wondering when measured happiness would come into force, tired of so many delay. But unfortunately the opposite has been confirmed. José Manuel Soria, adviser of Economy and Treasury Department, has given the face and has communicated that it is impossible to carry out what the president promised six months behind. Since it is not known to what or whom to blame, the best thing that is to say that the Euribor has raised and that the evolution of the financial markets is not favorable.

99,43 % of the loans for housing that are granted in Canaries is to type variable, and like that - they are going to remain, since the free change of mortgage was an only one mere promise.

The happiness they lasted little to the canaries that believed in the words of this politician. A Government that was saying to worry for the problems of the persons with mortgages.

Route: loquepasaentenerife.com

Sudden braking in the loans volume

The serious deceleration of the economy is clear in the first trimester of 2008. For it the governor of the Spanish Bank, Miguel Fernández Ordóñez, has advised to the banks and savings banks to get dearer the credit and to be more selective with the clients. We do not know until point this is a guessed right measurement.

Pero the verdad is that they all they have paid attention. According to the Survey of Bank Loans, To “there has taken place a widespread hardening of the conditions of credit offer in Spain. The situation is similar for the companies and you mortgage, and slightly more accused in the financing destined for families for consumption”. It seems also that the prolongan period between the few ones who ask for credits and the few ones that receive it. We can state that the credit of the boxes, for example, grew to 13,4 % until the last month, opposite to 24,3 % of the previous year.

Finally, the loans volume grows to a rhythm much smaller than in other years. The demand of mortgage credits has turned out to be reduced and it is going to continue the moderation in this growth. His aftereffects are serious, since the sudden braking in the housings buy will leave in red numbers the property development companies.

With all these dimes and diretes the housing construction will continue of fallen layer. And if the sector of the brick continues in great crises of the property development companies of our country they are going to close, with the consequent increase of the number of unemployed men.

In spite of the evidences, although a crisis has exploded, the Spanish Bank only thinks of hardening the conditions of the credits to the consumption.

Route: The Country

A million housings without selling

The economic crisis continues. According to the National Institute of Statistics (INE), the IPC has raised this month five tenths. It is located at present in 4,7 %, his highest number from 1997. To Of nothing it costs the breather that we had in the month in April when this indicator lowered four tenths.

We will have the definitive fact next June 11, although from here - till then the most normal thing is that it changes one or two tenths. For it we can affirm that the index of the interannual harmonious inflation will be high. The prices will double also if this rhythm keeps on advancing.

The fall in the sale of housings and in the mortgages worsens this crisis. There are Navarre, Balearics, Melilla and Catalonia the communities that suffer a major descent, overcoming 50 %. This panorama only is going to change when the buyers have the certainty of which the prices of the housings have lowered the sufficient thing.

In March 46.000 apartments were bought only, what supposes 39 % less than in the same month of last year. The real estate sector alarmist already does not know what to do before a situation so as it is the current one. The Euribor is going to close in May near to 5 % and the mortgages are going to raise 636 euros a year. Experts of the university of Barcelona predict that the number of housings without selling will come closer the million at the end of 2008.

They all are real estate news and bad financiers. Let's remember that yesterday it was the seventh consecutive day that the mortgage index for the calculation of the mortgages increased again.

Route: The Country
TO

The banking online brings benefits to which they can use it

A report of Xperience Consulting, a consultancy that studies the Internet use on the part of the persons, reveals bad news for the sector of the banking. And the fact is that the users of the Network who gain access to the digital pages of the financial institutions have a bad image of these.

45 % affirms that it has had problems to find the information that he needed, still in case of easy operations how it can be to find information about the helps and the mortgages.

The study of this consultancy has considered the opinions of 400 Net users about eight Spanish portals of banks and boxes. It was realized during past in February and marzo by means of the technology UserZoom and with 100 metric ones (quality, time of load of the page, process of búsqueda†¦).

The places webs of Banco Popular, BBVA and The Caixa are better valued by the navigators. The processes of search, attention and facility in the steps turn to these web pages in ideal so that every person clarifies his doubts or is informed about any topic in which it should be interested.

The sector of the banking online and they are most developed that of trips in Internet in our country. Many banks have seen increased the sales of his services and products across his presence in the Network. The digitization has brought big benefits. Although Santander, Box Madrid, Barclays, Bankinter and Caixa Catalunya will have to be adapted itself by them to these changes in the new age that one approaches, where the presence in the web becomes essential to prosper.

Route: EFE
TO
TO

The mortgage business weakens increasingly

If yesterday we were glad for the increase in the payrolls of June for 200 euros, today we open with bad news: the unemployment advances and 38,5 % is already less houses that have sold with regard to the last year. For all this we are experiencing the fall most accused of mortgages from 2003.

The mortgage business sees very spiteful por the collapse of the sale of housings, which spreads to several months. To The loans that have been conceived to acquire a house they have lowered more than 40 %, what supposes 70.378 euros less. The real estate crisis and the rise of the Euribor do not make but to worsen this situation.

The property development company Martinsa-Fadesa, one of the principal real estate groups of Spain, already has admitted that it will do clippings in the staff. Anyhow the news is not new: it has already reduced 35 % of his workpeople. The company was provided only one year ago with more than 1400 employees. At present this number has seen limited a 900. His reorganization is going to affect the whole team, including the Galician part where the social head office is.

With regard to the interest rate, the price to which the banks grant his capital is 5,14 %, in an average term of 25 years. The savings banks for his part, give 5,01 %, and the average term is 26 years. Another important fact is that two months ago 97,9 % of the mortgages demanded a variable type. And inside this one the Euribor was the index most handled in the constitution of mortgages. It has been present in 86,8 % of the new contracts. í nicamente 2,1 % chose a fixed type.

Route: The Country

Defeat of the so called inverse mortgage

The inverse mortgage is defined as that financial operation by which one can convert to money the hereditary value that constitutes the property of a housing. It was designed essentially for the pensioners older than 65 years. For it an appraisal of the above mentioned housing is demanded. In our country it is regulated by the Law 41/2007 of December 7.

But this loan or mortgage credit has not advanced very much from his birth. The current real estate crisis and the suspicion that this generates does that the citizens think it long before passing. Legal development is still missing very much. It is very difficult him to explain to the biggest persons who should mortgage his house to extract a revenue that increases his pension. The thing worsens if it is explained to them that only one will give to them between 30 % and 40 % of the value of the housing due to the crisis that experiences the sector.

Finally, the elders do not promote his housing before the fear and the ignorance of what is really the inverse mortgage. For all this it would be necessary to warn specially that do not lose the entitlement of the same one and that the benefits can be great and satisfactory.

The reform of the IRPF and that of the Mortgage Law they can give support between other things to this loan, since there are countless the pensioners who scarcely can live worthily with his pension. They do not have way of obtaining other income extra.

The inverse mortgage presents itself therefore as the ideal solution so that the biggest persons could live of free form through his final stage in the life. The bank gives a credit and does not claim any money quantity until the housing sells or until the owner dies, and the life of more elders happens to be then easier and pleasant. It looks like a good formula.

Route: Expansion

The index of requests of mortgages descends

The crisis of the financial markets in the last months has given the decisive push so that the number of unemployed men increases in our country.

The companies cannot develop his activities, especially the sector of the construction, and begin eliminating numerous jobs. The daily home economics turn out to be spiteful therefore. And the fact is that so many mortgages are not already demanded as earlier. We can say to true science that the real estate market is paralyzed.

The increase of the slowness is a direct consequence of these facts. The citizens who have contracted an almost life mortgage scarcely come in order month. An exasperating situation if we bear in mind that the index used to calculate the interest rate of the mortgages is in clear upward tendency: the Euribor has gone so far as to be located this month in 5,05 %. In two weeks we will be able to know the final number. But one does not wait for anything good.

The tensions are on the increase and the economists recommend not to get alarmed. Although the truth is that the banks keep on distrusting some of others and the fact of keeping the liquidity before giving them to third does not benefit anybody. Michael Hume, economist chief of Europe of Lehman Brother ratifies this information: The banks remain without liquidity out of fear that in a future they could need it from urgent form. The entities are protected.

To: What measurement can the increase of the Euribor stop? To: What can we do so that the economic deterioration is not accentuated? We do not have many answers to these questions. The BCE has in his hands the power to moderate the inflationary pressures and hence financial.

For the time being we can only demonstrate that the suspense in this ambience has made lower the mortgages requests. It is logical that nobody commits himself with these credits with the interest rates that we appreciate.

Route: Expansion
TO

You doubt in the return of 400 euros

The prime minister Rodrí-guez Zapatero promised before the elections to return 400 euros to all the IRPF deponents in June. The month it approaches and all sound you doubt.

This project already has green light to go forward. Wage earners and pensioners will receive part of the pay that was promised. Although to calculate the retentions of the Income tax of the Persons Fí-sicas it is necessary to return to decimales†¦

The payroll of the summer month that begins to show already will increase in 200 euros, which half of the ready thing supposes. Another part will be distributed in the payrolls during others six months of the year.

The approval of this measurement not of to generate doubts about how it will work, how long and who have right to receive the money. For all this, from Treasury Department it is a question of facilitating the tasks to the whole world, companies and workpeople. On his web page there will appear in the first week of June a computer program with which it will be possible to calculate the payrolls. Also all the informations and necessary clarifications will be able to be needed throughout next two weeks.

For the President, this measurement is own of an economy well managed in the one that we have saved and that can direct there - where the citizens I needed it”. Also, it will be stimulated and the families will be helped to have lower revenues.
TO

Route: The Country

The mortgage leaves without holidays the Spanish

Most of the Spanish citizens cannot take charge of his mortgages and this summer they will meet regrettably without budget for the holidays. It is not possible to confront to the lady mortgage and the financial stress that he supposes having to the banks behind to ask for the money every day.

A report of Europ Assistance confirms that they will be the Spanish those who less spend this summer in these wished days in which it neither comes to the work traffic is not even supported. These will reduce even in 8 % the budget of his holidays. The increase of the oil price influences this case greatly, since the Spanish tend to remain in the proper residence country and to use the particular vehicle to travel.

The Belgians will dedicate more 5 %, the Germans 9 %, the Italians 11 % and the Austrians 7 %.

The tiempo estimated for the days of rest was in general of two weeks. Now, and with this information and so many credits that to face, the Spanish might reduce his holidays up to one week or even less.

With this terrible panorama it is normal that the persons who live of rent do not consider to marry the mortgage to choose to a proper hearth. To all this the Euribor continues with his upward tendency that it includes already 32 months. This indicator has risen again in the current month. The mortgages holders will meet in serious predicaments since this fact supposes a new increase of the loans. To

It is necessary to find the way of which the banking solves the problem of current liquidity. The BCE must take measures promptly.

Route: The Country

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