I think you have to take this article in the context it is written and something similar could be said about quite a few UK mortgage banks who have recently securitised some of their mortage book
The credit crunch between banks lending to each other is still there but in general I think it only becomes a problem when a bank can not do this, because perhaps their mortgage book is not very good
There have been other posts on this forum with details of very good mortgage deals still available from Spanish Banks and the Caja Madrid [ from memory] has recently announced big increase in recurring profits for 2007 of circa 40%
So all is not doom & gloom!!!
For most of EU the property markets are flat but that does not mean that for the right reasons and in the right locations you should not buy....and this applies to Spain
|