Expand / Delinquencies on mortgages that finance more than 100% of the property value slashing 29%.
After the bursting of the housing bubble, Spanish banks returned to Orthodoxy as the granting of mortgage terms: credit granted, generally, should not exceed 80% of the appraised value of property acquired (or purchase price), which is commonly known as loan to value.
The mortgages that do not respect this rule, ie, those whose loan to value exceeds 80%, are considered at risk. And when this ratio exceeds 100%, then the loan is high risk.
At the end of last year, the main Spanish entities had on their balance sheets 22,533 million subprime mortgages, a figure that has risen nearly 25% last year, according to data from the Annual reports of these banks. The default rate for these loans for the twelve banks examined (which had submitted its annual report at the end of this article) closed the year at 28.6%. Despite the slight decrease against 2014, when the arrears was 31.9%, this ratio multiplied by more than eight times that affects not risk mortgages, which is at 3.4%.
In turn, mortgages with loan to value between 80% and 100% of these same entities at year end totaled 41,951 million compared to 49,625 million the previous year. Also in this case, late payment is much higher than in the rest of mortgages, namely 11.9%. To put in context the volume occupied in these loans balances risk, remember that the rest of mortgages granted by these entities totaling 379,314 million.
Rules and Exceptions Banks say that today virtually no risk mortgages are granted, although they acknowledge that there are exceptions. The most common occurs when banks finance their own stories, those that are in balance by debt swaps or asset defaults individuals. In these cases, at least when it comes to a purchase for first home, it is normal that the entity is prepared to fund the full amount of the purchase, as long as the other risk criteria are within the limits set each Bank.
may also be that this type of financing third floor is granted, but sometimes very rare and almost always, customer asking another type of guarantee, as the guarantee of a third person. From an entity they explain that is sometimes good customers with children when parents are willing to be guarantors.
The entities that have most watched grow the volume of mortgages with loan to value greater than 100% have been Santander and Popular. On the opposite side, Kutxabank, Ibercaja and Bankia are the ones that have reduced them.
The subprime mortgage banking increased by 25% to exceed 22,500 million
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