Spanish mortgage approvals increased by 34%.

Spanish mortgage approvals increased by 34%.

News this week from the CSU (Central Statistics Unit of Spain) shows that in May 2016 a total of 26,579 mortgages were approved. Thats an increase of 34% on May 2015.

The CSU report also shows that this is the 24th consecutive month on month growth with 121,000 mortgages being approved in the May-15 to May-16 period. That 12 month period showed 121,000 mortgages being approved, an increase of 19.7% on the previous year.

“This is fantastic news and confirms the trend we are seeing” says Larraine De Preter, Owner of DEP Independent Mortgage Brokers. “We processed a high volume of applications in May, followed by a slight slow down in June just before the Brexit referendum, but since the result the enquiries we receive have dramatically increased to beyond the May levels”.

She continues, “It shows that people from all over Europe are still looking to move to Spain for the better quality of life it offers and whilst property is still low cost. If you are considering the same, talk to us quickly!”