Financial Safety Advice

The ups and downs of the economy and prudence in financial industry risk preventing gradually be directing the recovery of consumer credit.

However, consumer loans broke the record in 2007, new operations, despite being one of the financial products most affected by the crisis in the markets since the summer of that year.

In 2009, as estimated by the Bank of Spain, the amount of new consumer loans dropped 19% over the previous year.

Due to the tightening of eligibility criteria, financing through these loans began to fall and defaults rise. In September 2009 the consumer delinquency was 7.13%.

In this type of financing institutions have been historically most active banks but the activity has fallen considerably in these institutions as in the savings sector.

The January 2010 figures show a significant decrease in the amount of new business, compared to last month of the previous year. In the consumer lending savings banks fell 24% and banks 20%. It is expected that in 2010 the trend will be recovery, slow and very tied to the evolution of employment and the economy. Read the rest of this entry →

According to statistics from the report by the Observatory on Family Finance Agency Products Business Banking, resort to refinancing let us save 900 euros per month.

The complicated situation of thousands of families and the deteriorating labor market, companies are about reunification of credit, as this study indicates that requests to unify payments have risen by 50%, but the risk criteria have been tightened, approving fewer operations (-60%).

The profile of the applicants of this product are individuals or families with an average of three to seven loans.

The widening gap between interest rates of personal loans and mortgages is pushing thousands of families to take debt consolidation process in which the lower cost of mortgage compensates for the longer term, against the very high rates of credit consumption.

Agencies Business Solutions

* Mortgage loans
* Bridge Loan
* Reverse Mortgage
* Second home
* Mortgage-plan
* Reunification of debts
* Consumer credit
* Insurance