If you have a Spanish Mortgage then the European Central Bank is trying to Help

WATCH: Huge fire now contained in Spain’s Petrer in the Valencian Community. Image: BomberosAlicante

IT is estimated that in Spain around 30 per cent of properties have been purchased using a mortgage and that more than half of borrowers do not have a fixed rate of interest.

Nowadays it is considered that the most sensible rate is linked to the Euribor (the rate at which banks in the euro zone lend to each other).

The European Central Bank is currently fighting to try keep rates as low as possible for the benefit of commercial and private borrowers.

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Written by

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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