Banks restrict consumer lending

According to the institution headed by Mario Centeno, the criteria for granting loans have remained virtually unchanged “for individuals for the purchase of housing and are slightly more restrictive for loans for consumption and other purposes.” According to the BdP, this was facilitated by “the general economic situation and prospects, as well as the credit quality of consumers.” At the same time, a slight increase in the interest rate on loans for consumption and other purposes was recorded. However, banks also report a slight increase in the proportion of rejected loan applications, both for housing and consumer lending.

As for expectations for the coming months, banks expect the criteria for providing loans to both families and companies to be maintained.

Housing demand grows in the eurozone
Demand for home loans in the eurozone increased in the second quarter for the first time since 2022, while banks eased conditions for access to this type of financing, the European Central Bank (ECB) said on Tuesday.

Eurozone banks reported a slight tightening of conditions for access to business, consumer and other household loans, but an easing of home loans.

Facilitate access for young people under 35
The government has launched a range of measures to make it easier for young people under 35 to buy a home. The measures, which come into force on 1 August, include exemptions from council tax on onerous transfers of property, stamp duty and first home purchase fees. The state will also provide a home purchase guarantee.