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MD Premier Market Update Q1 2023

Firstly, looking back to last year, it was another milestone year for us at MD Premier. It was an extremely exciting and busy year in each of our key markets: 

  • In Ibiza we acted for HNW and UHNW clients on a variety of large property acquisitions, where we introduced the widest range of global financing solutions seen to date (see below). In addition, we financed development projects, arranged Bridging Finance and acted for corporate entities seeking financial solutions, including the refinance of existing debt. 
  • In Mallorca we welcomed Maaike Van Ruitenbeek to the team who brings with her a wealth of experience and energy and, from her base in Pollensa, Maaike will be leading MD Premier’s services in Mallorca
  • In Barcelona, Valencia, Marbella and Portugal we also continue to see huge demand leading to a mixture of international and traditional lending solutions for both individuals and a range of corporate structures.

Having now had a chance to reflect, and crunch numbers, 2022 was, without doubt, an extraordinary year. It was the first full year without travel restrictions, a year where we saw record low interest rates in the first quarter, and many clients looking to settle in Spain (a trend that we fully expect to continue, albeit perhaps at a lower rate to last year as we move away from the post Covid era). 

Our key Premier markets, in the Balearic Islands, Malaga, Barcelona, and Valencia continue to grow at pace. In fact, these areas contributed to 86% of our MD Premier mortgage volume in 2022!

In Ibiza we acted for HNW and UHNW clients on a variety of large property acquisitions, where we introduced the widest range of global financing solutions seen to date is now much different to Q1 last year, lending conditions are still very competitive in Spain and Portugal.

In 2022, we broke records with all our lenders on the aggregate value of the amount lent, and finished the year having completed more mortgages with more lenders than ever before, which not only reflects the dedication that we put into our lender partnerships, but also the quality advice of our team. 

Q2 2023 and beyond…

The interest rate environment is now much different to Q1 last year, but lending conditions are still very competitive in Spain and Portugal, especially compared to other markets in the US and other countries around Europe. We expect (and hope for our own sanity!) to see a more settled interest rate environment from Q2 onwards. We have started 2023 with renewed optimism and positivity, particularly after having started working with some exciting new lending partners and we very much look forward to introducing them to you as well. 

As always, do feel free to give us a call to discuss your individual requirements, we would be only too happy to discuss them with you. 

Best wishes,

Howard Steel

The Mortgage Direct Premier Team

Howard Steel MD Premier Mortgage Consultant

Fluent in Spanish and English, and holding UK and Spanish regulatory qualifications for mortgage advice. He spent several years at a large Spanish bank. He now advises MD Premier's HNW & UHNW (Ultra High Net Worth) clients. Expert in large transactions requiring bespoke solutions for complex borrower structures.

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Mortgages taken out in currencies other than the currency in which you earn are considered Foreign Currency Mortgages. Changes in the exchange rate may therefore increase the equivalent value of your debt. Under the Mortgage Law 5/2019 banks in Spain have introduced mechanisms to protect consumers from exchange-rate risk. For more information, please speak to your broker.

Mortgage Direct, S.L. is a company registered in the Registro de Intermediarios de Crédito Inmobiliario del BdE with the nº D108.

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