Santander raises mortgage rates in Spain

NEW STRUCTURE: Respite from the sun on the way to Pulpi’s Geoda Photo credit: Pulpi town hall

BANKS in Spain have been offering very competitive interest rates on mortgages, but one of the largest, Santander, has announced that it is dropping out of the price war.

Indeed it is planning to put up its rates on variable mortgages as it tries to protect its profitability which has been dropping during 2019.

Mortgages attached to the Euribor rate are still low when compared to many other countries but the bank is determined to make more money from its current lending estimated at more than €50 billion.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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