The mortgage is the first thing that is paid
08.03.2008
In this text I am going to exhibit the conclusions on personal finance to which there is llegado the journalist Nuria Salobral in the economic newspaper Five Days, after analizas the economic actuality.
According to Salobral, the último who stops being paid in moments of economic weakness it is the mortgage. The interest rates increase makes the Spanish do up one more button of the belt and limit to expiring with the monthly quota of the mortgage loan, abstaining from requesting new credits to the consumption. Of this one derives that the slope of the credits to the consumption coincides with the deceleration of the economy and the problems that have the proper banks to finance.
Now the Spanish ask for less credits to allow him a trip, to realize changes in the housing or to acquire a new car, and it is quite related to the economic priorities in delicate moments. Also the entities are cut at the time of offering too many credits.
The credits to the consumption reached an appraisal as a whole of 12,3 %. For the following three years the rise in this sense would be between 8 % and 10 %, according to the information that there offers Cetelm, an entity that devotes itself on personal credits. The Bank Santander admits that there is “a minor growth in the credit authorization to the consumption, what has being observed definitely from middle of last year”. As a result of this situation, now, the Spanish, after several years of increase in the cars buy, think it much more before buying a new vehicle. In the first two months of the year the sale of cars has fallen down 13,1 %.
That's why, to the same tismpo as the competition for the deposits with which to replace other ways of financing and of clients mortgaged in other entities managing to compensate the real estate deceleration, the personal loans remain isolated aside inside the financial promotion.
Insisting on the idea of that the mortgages is the last thing that stops being paid, the bad debts are more as regards the credits to the consumption. Anyway this type of products is still available for those who should need it and who could confront his payment, just as also the rapid loans keep on being offered although they are more expensive.
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