pjj

hi guys , my morgage in spain in the last 2 years i have noticed it has dropped by about 150 euros per year which is great . but ive just been told by a friend on the phone tonight from spain that having spoken to his bank they reckon his morgage is going to drop massively next year , with the currant climate of the way things are in spain this would seem expected which would be superb for us all ! does any body think this will be the case in 2010 and has any one been told or heard of this big drop in rates

pjj

come on guys 18 views and not one comment there must be some one on here thats heard some thing

rachelk

Blimey, 21 minutes and he's anxious for an answer.

I don't know.

The Euribor is low and mortgage rates haven't necessarily followed. The banks may be sick of being left with homes that people can't afford any more.

But no, I've heard nothing.

pjj

blimey, 21 minutes and 18 views and no reply. i dont know! LOL thanks any way for your reply

Veleta

I haven't heard anything either, but with the Euribor already at rock bottom I can't imagine there is much room for manouevre.

In any case, I think most mortgages have a min and max cap and regardless of what the Euribor does your mortgage will never go below that minimum cap anyway.

missile

blimey, maybe if you told us the rate you are paying, we might be able to comment

jdr

Blimey, this is an open forum anyone can view, but you have to join to answer. ;-))

HBG

Blimey, have you seen the banks lists of repossessions? There’s trillions of them. They’re repossessing whole towns.

Madridboy

Blimey, I'm looking at buying possibly next years so, blimey, that'd be good.

James Salobrena

Whatever anyone thinks now may be cpompletely different in a month's time as the world stumbles along from one economic problem to another. At the moment I think that there will probably be pressure on Euribor to rise by the end of 2010 - and it is Euribor that dictates the bottom of the interest rates.

Mortgages this year for new buyers have been relatively low but the rates are often reviewed once a year (not monthly) and I know many people who had a review at the end of last year and are still paying close to 6%. These people are now having reviews and the rates will drop by about half in the New Year and remain there until the next anniversary.

Hillybilly

Blimey. I don't have a mortgage

jackytoo

Blimey I don't either

Bri and Katee

We have a variable rate mortgage arranged thru the Leeds B.S (Gibraltar branch at the time, although now done direct with their HQ in Leeds) Its linked to the euribor rate. This year we have seen the mortgage drop from 480€ per month to 220€ can't ask for more savings than that!

As long as it keeps it up for another 2 years than we will have enough savings to pay it off and actually been in a position to screw the mortgage company rather than the other way around

spaniola

They will not drop anymore and in July 2010 they will shoot up so be warned

Mitzyboy

Blimey ... crystal ball