The Congress of Deputies approved a package of measures agreed upon by the Government and the financial sector. alleviate the situation families particularly affected by the increase in mortgage payments. Some measures to improve what is already supposedly considered Good Practices Code Adopted in 2012 stop the wave of evictions after the crisis and above all, they are expanding the number of possible beneficiaries to include middle-income people.
A pre-ascension decision your euríbor is unstoppable, It has gone from -0.477% last year to close at 2,629% this October, which means a more than 1000% increase in cost. 163 euros per month For an average mortgage in the province, where the amount demanded is usually around 105,000 euros – about 1,958 euros per year.
A situation that puts many family budgets to the test, according to data provided by the Vice President of Economic Affairs. Nadia Kalvinountil 70.5% of loans To buy a house currently in effect in Spain variable rate.
In this way, the package of measures provides another temporary framework for middle-class families at risk of vulnerability, as well as providing significant improvements for vulnerable families who can already benefit from the existing Principles of Good Practice, which number around 350,000 nationwide. . , a definition that another 750,000 digits could fit in. Thus, they will benefit in total across the country as follows: 1.1 million mortgages.
taken into account, Alicante According to INE data, it focuses on 4.2% of all mortgages issued in Spain over the past decade, meaning the province could offer multiple benefits. 46,000 families.
Sensitive
As for the first group, vulnerable families, Income less than 25,200 euros -Three times the rate of IPREM- those who see that their effort to pay their housing loan has increased by at least 50% and allocate more than half of their income to a quota. In this case, the probability of a time five-year grace period in which now interest rate reduced current Euribor +0.25% to Euribor -0.10. Additionally, you can make a request. debt restructuring more than one call and in case the installments cannot be paid despite the discount, the period of requesting payment period is extended up to two years.
Households that do not meet the requirement to increase their mortgage effort by 50%, two-year grace period interest rate cut and extension of the payback period up to seven years.
middle classes
For its part, new measures have been taken for families with disabilities. Rent up to 29.400 Euro, Those who see a quota increase of at least 20% and spend more than 30% of their income on mortgage payments. In this case, you can request: quota ice cream for one year, a reduction in interest rates in the same period and the same extension of the seven-year payback period.
Also, for anyone with a mortgage over the next year they will eliminate the early payment commissions and converting from fixed to variable rate so that those who want it and have the money can lower the monthly installments.
After the approval of the Council of Ministers and after agreement with the main employers in the sector, it will now be the banks that should individually participate in these measures jointly. voluntarily. Of course, once they do, they will have to implement them. Organizations will have a month to inform their customers about the possibility of requesting it.
Currently, as the main banks Sabadell, Santander, BBVA or CaixaBankthey have already shown their willingness to sign the agreement.
Approved by user associations
The main consumer associations specializing in the financial sector, till the end Y vulgarthey valued positive package of measures approved by the Government to relieve mortgagee, although they have also warned potential beneficiaries possible cost overruns long-term exposure to any of these, such as the extended return period.
Therefore, both organizations increase in the number of families that can benefit These measures are aimed at temporarily lowering wages by raising the income level to include the middle classes.
But on the downside, Adicae reminds us that extending the repayment term will mean the loan will eventually run out, even if it means temporary relief by lowering the fee. more interest will be paid. Specifically, according to their calculations, those who currently pay a fee of about 620 euros and request a maximum seven-year extension will see a reduction in their fees of about 100 euros per month, but will have paid off at the end of the loan. Another 12,400 Euros.
Likewise, they think from Asufin that, removal of commissions for converting loans from variable to fixed he comes lateThis change is no longer offset, as the rates businesses now charge on these loans have become significantly more expensive.
Green light to the Financial Client Defense Authority
The Cabinet also approved the creation of the Financial Client Defense Agency, which will be responsible for processing receivables submitted by users in the banking, insurance and financial investment fields. Contrary to what is currently happening with complaints filed with the Bank of Spain, when the amount of the claim does not exceed €20,000 and it relates to the code of conduct and protection of customers, or is compelled, your decisions will be binding on the organizations. do with abusive provisions declared as such by the courts.