Competition 'should help Spanish buyers'
Those looking to purchase property in Spain could be helped due to increased competition between banks in terms of mortgages, according to new figures from the Spanish Mortgage Association.
The findings suggest that there has been a dip in customers so service providers have had to make products more attractive, reports Homes Worldwide.
Now, there is fierce competition among companies, for custom and deals are beginning to show this.
Moreover, the rate of interest on a number of products remains below the Euribor - the equivalent to the Bank of England base rate - with a number of rates tracking the Euribor with rates of 0.25% above or lower.
Banks offering products below the level of the Euribor include Caja Banco and Gallego Navarra, the website reports.
In related news, an expert at Barclays Global Retail and Commercial Banking recently commented that the outlook in Spain should remain strong, due to the quality of life the country can offer.
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