Spain mortgages off 41 pct in July - Bank of Spain

MADRID, Sept 5 (Reuters) - Financial institutions granted 41.2 percent fewer mortgage loans to Spanish households in July from a year earlier, according to preliminary data released Friday by the Bank of Spain.

Mortgage loans fell to 8.33 billion euros from 14.17 billion euros a year earlier, according to the Bank of Spain.

Exacerbated by the credit crunch, Spain's decade-long property boom came to an abrupt halt at the end of last year, plunging the economy into an economic crisis and its lowest growth rate for 15 years.

Data from Spain's National Statistic's Institute showed that mortgage lending in June plummeted 40.6 percent year on year, while house sales dived 29.6 percent.

(Reporting by Robert Hetz; Writing by Judy MacInnes; Editing by Victoria Main)