Spain has announced plans to try to tackle the severe problems facing its housing market.  The government will temporarily halve the sales tax on new homes to 4% to try to stimulate its construction sector.  Spain's economy was plunged into recession following the collapse of its once-buoyant property sector.

It seems that the number of local bank managers who have authority to underwrite mortgages in their branches is declining rapidly (especially for non-residents).  This means the majority of mortgages are now rubber- stamped by central credit committees, who can be very strict about having the correct documents.

Forget holidays at home and cut-price breaks to Turkey, if you’re looking for value for money the Spanish Costas are the most affordable destination in Europe.  British holidaymakers will get more for their cash on the Iberian Peninsula than any other hotspot, with prices in Spain dipping to a four-year low, according to a new survey.

The infamous “ground clause” or “cláusula suelo” – a minimum interest rate that financial institutions applied to many mortgages in order to insulate themselves from possible declines in the Euribor – has caused loans taken before the crisis to increase, in some cases, from anywhere between 1,000 and 5,000 euros.

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Easy Mortgages Spain are happy to announce a new non status spanish mortgage available for non-residents.  The high street Spanish Bank offering this product has not started to market the product yet and is unlikely to but Easy Mortgages Spain have already had several applications approved, usually within 48hrs.