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Impact of the credit crunch
As in most European countries, Spanish banks are now more careful and judicious in assessing a client´s suitability for a mortgage.
This is due to the general tightening of lending criteria globally, and so the banks will ask for all the paperwork necessary to the application, and will be reluctant to entertain an application unless all documents are in order. For instance, the requirement for a credit report for every applicant is a fairly new criteria, and provides another level of security when the banks assess the level of lending risk.
