The board of directors of Banco de Crédito Cooperativo, the parent company of Grupo Cooperativo Cajamar, renews its commitment to the Code of Good Practice on mortgage loans. The 18 rural boxes that form the group agree to extend existing measures and to widen the program to assist the middle class through a two year transitional regime. The aim is to help members and customers throughout the group’s region of origin and activity access housing more easily with support that aligns with local economic realities and community needs.
More than a decade ago, on March 12, 2012, Cajamar Group’s credit cooperatives already adhered to the Code of Good Practices for the viable restructuring of mortgage loans on habitual residences. The program focuses on vulnerable social groups and seeks to preserve housing by restructuring debt, by rescheduling capital that remains unpaid, and by providing settlements when appropriate. The measures are aligned with the group’s standard approach to helping households manage their mortgage obligations during difficult times.
The institution has also offered new assistance to customers facing difficulties paying mortgage installments, in collaboration with the Ministry of Economic Affairs and Digital Transformation and the Bank of Spain. This year, together with the rural banks within the Cajamar Cooperative Group and other institutions in the Spanish banking sector, a package of measures for vulnerable mortgage borrowers was approved. In November, the Council of Ministers sanctioned this new set of tools to support households at risk of vulnerability. Attribution: Spanish government and financial authorities
Among the approved measures is a reform of the current laws aimed at supporting families most vulnerable to the prevailing economic conditions, along with the approval of an additional Code designed to help certain middle income groups that are particularly affected by rising interest rates. Attribution: Cajamar Group communications
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Cajamar reported a profit of 78.9 million euros, marking a 26.5% increase.
Calculations presented by the Ministry of Economy indicate that the program could benefit the country as a whole. It is estimated that about 1.1 million mortgages could be affected by the measures. Within Alicante, INE data show the program concentrates on around 4.2% of all mortgages issued in Spain over the past ten years, which means that more than 46,000 families in the province could benefit from these measures.
The ongoing effort reflects a broader policy objective: to stabilize housing access for households facing financial stress while maintaining the integrity of the mortgage market. The joint action by Cajamar Group and public authorities demonstrates a practical approach to balancing housing needs with sound financial management. Attribution: Ministry of Economy, INE