The banking institutions support his inflexible conditions to grant a mortgage
27.01.2009
In spite of continuous descents in the interest rates the authorization of mortgage loans keeps on falling down to lead, In spite of it the banks prefer conctinuar with hard conditions to grant a mortgage.
Acutalmente does not find cheap mortgages and that that the Government has injected to the banking at least 13.339 millions of euros in three assets auctions.
In spite of the help of the Government to the banking there is no any more facility. The requirements of the Spanish Bank so that boxes and banks moderate the risk are fulfilled literally. No loan is approved if the monthly quota is superior to 40 % - a ceiling that only some entities admit - the clear salary.
Nevertheless, in spite of the precautions that the Spanish banking takes now for the loans to the housing they have not managed to reduce the slowness. Only in the savings banks, which grant more than half of the loans to the housing in Spain, that one ratio has risen up to 3,65 % in December, 2008, the highest number in eleven years. That means that almost four of every hundred credits do not recover. Funcas believes that one will come to 6 %.
The sector argues that the conditions are "necessary", although in some moment they could have relaxed. But, simultaneously, they sentence that the demand is minor. The last official statistics, of the INE, reveal that the number of operations signed in October (last taken into account) has fallen down at his lowest level for eight years (with the exception of the holiday August); scarcely 64.500 have been formalized. The quantity comes up, although it has decreased, keeps on being high.
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