payment mortgage It can turn into a real nightmare for many people going through a difficult economic situation for any reason. However, a door of hope has also been opened for these people.
HE Bank of Spain He reminded that it is in the hands of families who cannot pay their housing loans. Code of Good Practices, a resource that banks can voluntarily adopt and that sets out measures to assist mortgage holders in distress. If you are not aware of the existence of this code, we will tell you what it consists of and the requirements for you to comply.
Requirements to take advantage of the Code of Good Practice
In order to access this resource, the bank with which the mortgage is contracted must be present. stuck to code and meeting other conditions, such as being a collateral for the loan habitual residence and that the property does not exceed 300,000 euros. In addition, the economic requirements set in the chapter cannot be exceeded. “exclusion threshold”.
Check if the bank complies with this rule
Not everyone who has a mortgage debt and is facing some sort of problem to deal with it is not eligible for the help contained in this rule. So if you find yourself in this situation and want to find out if you can get any of these benefits, the first thing you should do before you start any further paperwork is to check that your mortgage bank complies with this rule.
On the Bank of Spain’s own website a list where you can consult all banks that adhere to this rule. If your organization is on the list, you can continue with the procedures.
What does help consist of?
Once your bank has been verified to be on the list of organizations that comply with this rule, you should know what assistance you can get (if you also meet the remaining requirements). Help measures of the code include: debt restructuringdiscount offer or payment request.
How long can you apply?
CBP applies to mortgages contracted before December 31, 2022, and the request period for assistance has been extended. until 31 December 2024.