your one mortgage Have you noticed how much your purchasing power decreases each month with a variable interest rate? This may be due to the European Central Bank’s general rise in interest rates. This means borrowers with variable interest rate mortgages make higher payments each month; These payments are increasing exponentially. rise Euribor and/or other indicators, the salary received at the end of the month is the same.
Don’t worry. HE Bank of SpainThe body that controls and manages the Spanish banking system and other financial institutions operating in our country has launched a notification that may help you.
The ECB recalled the existence of Royal Decree 19/2022, recently approved by Congress A series of measures (assistance) were implemented in order to reduce the impact of this increase in expenditures and the increase in interest rates due to fiscal policy.
In this sense, If you have a variable interest rate mortgage, there are a number of requirements to qualify for assistance.
What do you need to claim relief if you have a variable mortgage?
There are various conditions for you to benefit from the assistance of the law in question.
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First condition: The house obtained as a result of the assistance must be a regular house (no second house) and must be worth less than 300,000 euros
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The second condition is based on income: Those whose family income is below 29,400 Euros per year can request it.
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Mortgage burden must be more than 30% of income
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Mortgage must have increased by at least 20% due to interest rate
What if you don’t meet any of the requirements?
Don’t worry. You can do Freeze mortgage payment for 12 months Alright Converting variable interest to fixed interest and get a small extension of the loan term up to 7 years.
Moreover, If rent If the family’s annual income is less than 25,200 euros and the monthly mortgage payment exceeds 50% of this, the affected person can request a two-year grace period. In this way, you can extend the maturity up to 7 years by paying a lower interest rate (24 months).