Spanish mortgage and Euribor news.

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Euribor mortgage base rate ends 2012 with a record low


The latest Spanish mortgage and Euribor news

Euribor (12 months), the interest rate typically used to calculate mortgage repayments in Spain, fell to 0.549pc in December, the lowest level on record, and almost 73pc less than the a year ago.

That means savings of around €1,000 a year for the typical borrower with an annually resetting loan of €120,000 for 20 years.

Meanwhile, new mortgage lending continued its inexorable decline, falling below 20,000 new loans for the first time in many years.