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Remortgaging and refinancing in Spain

After putting up for years with a bad mortgage deal I have finally researched the market and made the move. I've waved goodbye to one spanish bank and went to a better one. I'll be blogging my 2p worth of knowledge I got from the experience.

Is teleworking a reason for mortgage amounts going up?
Monday, March 1, 2021 @ 8:26 PM


Based on the recenly released data on remortgaging in Spain, the number of mortgages on residential properties has dropped significantly. A near 15% reduction over the previous year's period of December. Even more impressive was the fact that the average interest rate payable is 0.6% - I find that number very tempting if you are in a position of thinking about remortgaging, or even purchasing for the first time. Data as follows:

Mortgages on residential properties - December 2020
    Value Monthly change Anual change
Number of mortgaged dwellings   26,128 -9.1 -14.8
Average amount (euros)   135,658 -0.7 9.2
Average interest rate   2.47 0.6 -1.6


Taken from

Obviously, Covid is having a continuous effect on the market. But, we see that the total Euro value of mortgages has gone up. Anecdotally, I have learned from a number of estate agents that several property buyers are coming to Spain (and mostly in Andalucia), to work remotely from here. They tend to buy bigger properties (to allow for the extra office space), and that might explain the data above. It would be interesting to see whether the trend continues, and whether teleworking is one explaining factor.

Like 0


SarEmil said:
Wednesday, December 22, 2021 @ 11:19 AM

You have to be careful with that. I suggest you don't spend the credit you earned on small and useless stuff. It would be best if you instead gathered more to be able to make more significant purchases. You should start comparing loans on [url][/url] and see if you can afford something more important that would make an enormous impact on your life. You can do whatever you want, but this is the smartest choice to ta

tiogdets said:
Monday, December 27, 2021 @ 11:13 AM

It happens because people don't want to take mortgages right now. Because of the covid, the economic situation is unstable, and people tend to avoid taking loans or mortgages. But you pointed it right. If you want to take a mortgage, don't hesitate and do it as soon as possible. There are many good companies like Mortgage Advice Doncaster to take a loan. Find more on if you are interested.

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