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Published on 1 Comment on Novagalicia removes interest-rate floor clauses from home loans

Nationalized lender Novagalicia has joined BBVA and Cajamar in announcing that it is stripping so-called interest-rate floor clauses from outstanding mortgage contracts, effective as of May 9, the day on which the Supreme Court ruled such conditions to be null and void.

Home in Spain 300x200 - Novagalicia removes interest-rate floor clauses from home loansFloor clauses limit the extent to which borrowers can benefit from falls in the benchmark used to set variable-interest mortgages, which in the case of Spain is habitually the one-year Euribor rate.

The Supreme Court determined that within the context of a mortgage contract as a whole such causes included in the fine print of documents lacked the transparency required by the law.

Novagalicia’s decision affects 90,000 contracts and mortgage debt totaling 6.6 billion euros. The bank said it has ceased to issue home loan contracts since the start of 2011.In a statement to the National Securities Commission (CNMV), Novagalicia said if interest rates remain at their current level, the impact of the removal of floor clauses on its earnings would be 48 million euros, the equivalent of 6.7 percent of its net interest income last year.
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Published on 1 Comment on Splendid Country Style House for Sale in Santanyí, Balearic Islands

3 bedrooms, 2 bathrooms, Area Lot 10,200m2, Built area 180m2, Swimming-pool, Second Hand, Balearic Islands

Tower Stonefinca near Santanyi: This 'little castle' with panoramic views offers 3 bedrooms, 2 bathrooms, guest toilet, floor heating, fireplace, 12 x 6 m pool, porch, solar-energy, satellite TV and private fountain. Potential of upgrading to 4 bedrooms or an added apartment.

See more info about this great house: spainhouses.net

56785 1081030 foto 1 - Splendid Country Style House for Sale in Santanyí, Balearic Islands
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Published on 3 Comments on Architecture in Spain: Modern House in Girona

If you are planning to build a spacious house on a narrow piece of land, you can get inspired by the Step House creation at the Spanish  city of Girona. This brilliant architecture emerges from the thoughts of Catalonian Spanish architects who are part of 05 AM Arquitectura.

The house is chic with unconventional styling employed so as to augment the lighting and spaces of the rooms. The home has been made to align with the north or the south elements and brings in abundant natural light. The house has two main entrances at the first floor, ground entrance and the lower, ground garden level that also makes for car porch. A comfortable living room, compact kitchen and terrace are allocated in the main floor. Between the house basement and the main level, a unique space is crammed in as a transitional level that can be best used for leisure and study spaces.

House in Girona - Architecture in Spain: Modern House in Girona
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Published on 3 Comments on Pace of house price deflation picks up at start of the year

The ongoing fall in house prices in Spain accelerated in the first quarter of this year as the housing market remained in a five-year-long slump and as banks sought to offload property on their books.

40587 568748 foto7276291 300x200 - Pace of house price deflation picks up at start of the yearAccording to figures released last week by the National Statistics Institute (INE), house prices fell an average 14.3 percent in the period January-March from a year earlier after declining 12.8 percent in the fourth quarter of last year.

New home prices fell 12.8 percent, while the average price of existing homes decreased by 15.3 percent. Prices have now fallen by 39 percent from their peaks toward the end of 2007.

Prices fell across the country, with the biggest drops experienced by the regions of La Rioja (18.0 percent) and Madrid (16.8 percent.)
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Published on 6 Comments on Great Penthouse apartment for sale in Fuengirola, Málaga

5 bedrooms, 3 bathrooms, Second Hand, Fuengirola, Málaga

This 5 bedroom penthouse in Torreblanca is a real treat! Luxury all the way from location, views, to furniture and caring for the details. With 400 m2 tumble space, two big terraces, 5 bedrooms, 3 bathrooms and 2 private underground parking spaces, you have everything in place for a comfortable lifestyle. Close to everything, yet very quiet and tranquil.

The spacious 5 bedroom penthouse (two levels) located on a hill in lower Torreblanca. The 5 bedroom penthouse features the finest marble floors, fully fitted kitchen, fitted wardrobes in all bedrooms and lots of storage space in general. From both balconies you find yourself enjoying stunning sea views in all directions, in addition to the lovely garden view below.

From the 5 bedroom penthouse you have walking distance to absolutely everything. Both train station (to Malaga/Fuengirola/Airport), supermarkets, restaurants, cafes, bank, kindergarden, tennis & paddle tennis courts, buses and much more are all within a 5 minutes walk. And lets not forget the terrific blue flag beaches that are only 6-7 minutes away by foot. This is the perfect property for those who want to live with style in central environments!.

5455038 1070144 foto 647931 - Great Penthouse apartment for sale in Fuengirola, Málaga
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