Nadia Calviño, first vice president, report that the bank, requests to join the. Code of Good Practices for mortgage debtors at risk of vulnerability after the rate increase since January. Code of Good Banking Practices: What is it about? First of all. It is necessary to make clear what the Code of Good Practice is . This is an aid package for those who have problems paying their mortgage loan. You must meet some requirements, the bank will apply several measures that will your payment and allow you to comfortably make ends meet. The majority of banks that operate in Spain adhere to the Code and have the obligation to apply it if you meet the necessary conditions. Currently, there are two Codes of Good Practice: Code of Good Practices for the viable restructuring of debts with mortgage guarantees on primary residences, is aim at vulnerable families. Code of Good Practices for mortgage debtors at risk of vulnerability , for middle class families.
Requests to adhere to the Code of Good Practices for mortgage debtors increase
Nadia Calviño, first vice president and minister of. Economic Affairs and Digital Transformation, stat that the bank receiv, requests to adhere to the Code of Good Practices. For mortgage debtors at risk of vulnerability since January Russia Phone Number Data due to the rise in rates. This figure was provid by Calviño after the meeting he held with representatives of banking associations, consumer associations and the Bank of Spain . This meeting was held with the objective of evaluating the evolution of protocols and codes of good practices to ensure care for the elderly, face-to-face banking services in rural areas. Calviño has indicat that this figure of , requests implies multiplying by the number of requests prior to the monthly average before the update of the Code of Good Practices, which was at the end of November.
What are the benefits of the Code for middle class families?
If you meet the requirements, you will have the possibility to choose between different aids. Extend the return period: you can extend it for up to seven years , without exceeding years in total. In this way, you will reduce the fee to an amount Canada Phone Number List equivalent to what you paid in. June Freeze the installment for months. The installment will be frozen with an amount equivalent to what you paid in. June In those months, the interest will be lower so that it implies a reduction. Of the current net value of the mortgage loan. On the other hand, it is possible to convert the variable mortgage to a rate. In this way, your payments become stable, although it will be with the interest that the bank offers you. You have the possibility of requesting the application of one measure or another until. November , What documentation must you present to access the Code of Good Practices? To apply for these aids, it will be necessary to present certain documents that demonstrate that you meet the requirements.
