as with the u.k has your mortgage rate in spain gone down ours hasnt and we are with bancaja????

thanks   lynda

You may find like us that your Euro mortgage is reviewed 12 monthly not whenever rates change! not good in our case as the review was last Sept before the bubble burst- therefore at the moment stuck around 6.5%! ouch- going over next week and may try and speak with our bank then.

Some friends of ours are having the same problem, their mortgage rate change won´t be reviewed until November.  They spoke with their bank and were advised not to re-negotiate as it would be like buying the property again, Notary, lawyers and all the fees etc... and would probably cost them around 1000 euros.  They were told to hang  on until the review and they would then see a significant drop in the rate.

Ours is reviewed 6 monthly, so went up in June '08 and ten came down again in January this year. We are in the same position now with payments as we were first off.

Mark