Spain’s New Mortgage Act stirs up trouble

Spanish Property Insight, September, 21. 2019

Spanish Property Insight is a property information website run by Mark Stücklin (inset photo), author of the Spanish Property Doctor Column in the The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins. SPI is regularly quoted by journalists and the international media as the most authoritative source of independent insider information in English language on the Spanish property market. Its weekly influential newsletter reaches over 50,000 readers, many of which are key players in the industry.

SPI kindly quotes us in one of its recent articles regarding Spain’s new Mortgage Act and the adverse impact it has had in the Spanish mortgage market. As we cared to explain in detail in our June article, this well-meaning law is flawed and overprotective, and has in fact ‘thrown a spanner in the works’ effectively delivering a great blow to the mortgage market, when it was flourishing again.

Excessive hand-holding of borrowers (and consumers) backfires when common sense is idly cast aside by lawmakers: link to SPI article.

Original June 2019 article can be found published in our website: Spain’s New Mortgage Act