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

11 banks will offer interest-free government-backed loans for those struggling to meet rental payments. CREDIT: Shutterstock

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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