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News and Views

Number of Foreclosures Fall by a Third

Mortgage Payments Easier.

Repossessions have fallen year on year and quarter on quarter. The table below shows the third quarter for 2017 down about a third on number of foreclosures. The same quarter four years ago showed more than 23,600. In the third quarter of 2017 this had fallen to just over 9,000.

1st quarter2nd quarter3rd quarter4th quarter 
201717.00013.6059.025 . . .
201619.33720.99814.66218.107
201531.18228.95419.62522.716
201432.64533.06923.60831.217

Foreclosure statistics down down down.

These clearly show number of foreclosures falling. These figures relate to all rural and urban properties. The information is broken down based on variables such as the type of building, system, status and owner of the properties being repossessed. The Association of Land and Mercantile Registrars of Spain (CORPME) provides centralised information to the INE – the centre for National Statistics in Spain.

This is, of course, great news and a strong indicator of a recovering economy. The other side of this analysis is there are fewer repossessions coming onto the market.

Are you looking to enter the housing market? Do you have a  good income, but not much money saved for a deposit?

You could take advantage of a 100% mortgage offered by a bank that has properties on its books. We recommend that you take a look at the housing market now.

If you prefer to absorb the information with graphs, please see below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home buyers

We have repossession properties available with various banks – some of which offer residents up to 100% mortgage and non residents around 85%. The normal requirement is that you have money to cover taxes or approximately 10% of the total amount borrowed.

Investors

For those of you looking to make a cash purchase or with up to 30% down payment the range is greater as it includes motivated sellers and private distressed sales. There has never been a better time since the crisis to buy a property. For the first time this decade property sourcers and investors are seriously considering buying to reform and sell on within a relatively short term.

Contact us to see if any of the repossessions on our books could be what you are looking for.

 

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