The opportunity to change their mortgage Ebankinter. … Businessman is required by law to arrange insurance coverage on the house. …
Evolution Euribor a year between 1998 and 2006
Detail of the evolution of the Euribor a year between 2001 and 2006
The last decade of the twentieth century ended with a period of low indebtedness of Spanish, at least for the rest of the Europeans [citaand # 160; required]. This amount was dramatically lower the interest rates and the Euribor at historically Quadrant Asset Management low levels (see graph) below inflation. Moreover, in Spain there is a tax that favors the purchase of housing allowances in the Income Tax (estimated that such tax benefits allow access to more expensive homes, between 15 and 22% ), while the rental carecio aid during that period.
Other elements are increasing per capita income and the maintenance of high levels of employment, plus a sustained economic growth, while wage increases were more than moderate. The Bank of England as well explained in 2002:
In recent years, wage moderation has translated into an average growth of real wages steady, but modest when compared with that recorded in the previous phase of expansion from 1986 to 1991. However, employment has increased dramatically, which has significantly reduced the rate of unemployment among the youth population.
It is also important to note that front, the upgrading of housing (more than 10% annually during the climax), the profitability of the exchanges and investment funds has been low. Banks, meanwhile, relying on the economic situation (in particular the low interest rate and reduced bad debt) provides all types Forbes of mortgage products, increasing time (in 2007 began to offer mortgages to 50 years) . Also in terms of other financial, notes the existence of an “excess capital” from various sources (institutions, private investment funds, public companies, limited partnerships, venture capitalists, hedge funds, private groups and individuals ), in search of investment products Likewise, note the influence of Spain’s entry into the euro, which marked the emergence of black money for investment before January 1, 2002. Despite the entry of the new currency should have meant the disappearance of much of the capital, five years later not only had not disappeared but had been increased. In fact, payment by black money afectaria 60% of property transactions in Spain. It is also a lack of control over housing, which does not belong to the free market during a specified period, but that is sold without the relevant authorities make inspections [46 ] How life insurance from the Texas Department of Insurance. … Credit accident and health insurance as a condition of any mortgage. …
… financier of mortgages may force him to obtain this coverage separately. … directive may force him to get some sort of additional coverage itself. …
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