Is anybody lending in Spain?
Wednesday, March 16, 2011 @ 12:32 AM
From my research over the last month it seems that very few banks are actually lending anything! Even with the new bailout on the backs of the working class, cajas and banks are not interested in giving mortgages, regardless of your creditworthiness. I've talked to BBVA, Banco de Andalucia, Barclays, Caja Granada, CAM, Santander, Banesto... Only Caja Granada and Barclays were actively interested in asking for my information to evaluate the case. I don't think this is a branch-specific condition, in fact, one of the bank employees said to me that they are just interested in surviving (off my taxes presumably), not taking risks.
I would be very interested what you readers experiences are. My intention was to provide some comparisons of rates/conditions but it's pointless if nobody is lending. Anyway, for what it's worth, I found that Barclays's Euribor + 0.59% was the lowest achievable rate.