accelerated hardening between Money Politics combat inflationary spiral Guided Euribor to stardom in the last ten months faster loading of its history, which is far from reaching its climax. This was originally conveyed as: significant increases between home loan payments variable rate, but its full impact will be felt throughout the rest of the year and throughout 2022. To anticipate this problem, the Ministry of Economy and Banking on the one hand and the Ministry of Banking on the other own assets Each other, on the other hand, they began to work possible measures of supporting mortgaged he said they are starting to have problems to face the payments.
This was confirmed in Congress on Wednesday by Nadia Calviño, vice president of economics: “We’re working; get together to see how we can do with the financial sector these days keep digging to support families who may be difficulty paying mortgage”. Minister of State for the EconomyGonzalo García Andrés met with president Alejandra Kindelán this Tuesday. AEB (employers of traditional banks) and the same next week with those responsible MINT (former savings banks).
for now no new advanced concrete initiatives according to various sources cited. At this preliminary stage, the Government measures in force to protect vulnerable mortgages “effective and adequate” against an increase in interest rates, as well as to analyze whether need more. In particular, the economy has moved to the sector that needs to be applied correctly. good practice code For restructuring of mortgages created and signed in 2012 87 assets. insists on reform. mortgage contract law 2019 facilitates the transition from a floating mortgage to a fixed one.
pressure and caution
Calviño wanted it like this take the initiativesince you suffered pressures From both the Government’s minority partner and its allies in parliament and the opposition. That’s why United We Can recommends capping increases in variable mortgage payments to 0.1%, while ERC wants to set up a recovery fund to help families unable to pay. know Y More Countries They are also demanding action, and further to the right, Ciudadanos proposed this Wednesday that the wage increase be temporarily deducted from personal income tax.
“we will analyze all offers and we will adopt those who more effective and also more fair“The vice president promised. Economy yes, he is worried about the possible situation. call to default effect Loans that can be produced by explaining the measures, while the problems in mortgage payments have not yet manifested themselves in general. Calviño, indeed, not similar nothing 2008 crisis with factors such as the higher percentage of mortgage flat rate (25% of total) or less average capital outstanding payment (82.000 Euro)
industry initiative
this guilt actually mortgage fell to 2.93% Latest data from the Bank of Spain in March. But it is recognized that sooner or later difficulties will arise in banking: “It’s not here yet, but trouble will come because with him euribor rise is inevitable”. Various financial resources discussion for several weeks what measures can be taken and are very likely to be adopted sooner or later. some joint venture.
However, banks also worried Due to the potential call-out impact on defaults, the industry’s most proactive voices argue that the fear is greater than what will actually happen next, because “The last thing families stop paying is the mortgage.. Likewise, the industry is warned that it is not currently possible to incentivize an industry moratorium on mortgage principal payment, as was done in 2020. European Banking Authority go back as it is to mitigate the provisions that organizations have to make for it. If a moratorium is made without such relief, their solvency will be affected and with it their ability to lend. economy sensitive this.