Record low interest rates gives cheaper loans !
The Euribor rate has for the first time in history ended up on the minus side at the end of a month. The reference rate for the euro that is the basis for calculation of interest on most Spanish mortgages ended February on record low -0.008 percent. This is the lowest monthly level since the indicator was introduced after the transition from pesetas to the euro in 1999. The low interest rates will lead to cheaper mortgages for anyone who has not a fixed interest rate, something very few borrowers in Spain have.
After years of being difficult to get a mortgage out of a Spanish bank they have started to attract customers. Now is probably the best time to apply for a loan in many years!
Today a Spanish bank can offer an interest of Euribor +1,25% and the possibility with up to 80% of the valuation.