Payback time for property buying frenzy

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Published 2009-09-15 05:09:10

According to latest estimates one in five Spanish mortgages are considered high risk with a strong likelihood of their becoming non-performing. The most vulnerable sector is the 80 per cent Value to Mortgage applications granted between 2003 and 2007. Mortgages were then rubber stamped with no more than a cursory glance at the paperwork underwriting loan applications. Property [...]

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Source: http://www.spanishnews.es
(Spanish News)

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