Tuesday, November 29

Who can benefit from mortgage aid?

The Government approves this Tuesday in the Council of Ministers a plan of measures to alleviate vulnerable mortgagees the impact that the rise in interest rates will have. The Ministry of Economic Affairs, headed by Nadia Calviño, extended the talks with the banking sector until late at night on Monday and finally announced a package of changes that the banks must now endorse. These are three large frameworks of measures that will affect a large number of clients affected by the change in the monetary policy of the European Central Bank.

These are the families that will be considered vulnerable. Specifically, those who comply with that level of income (three times the IPREM), dedicate more than 50% of their monthly income to paying the mortgage. The main novelties have been designed for them, with the reform of the code of good practices that was approved in 2012. These are the measures that affect them:

One of the Government’s objectives during this negotiation was that the measures not only reach the most vulnerable clients, but also that they reach a broader group. Thus, the Government assures that it wants to “facilitate families a more gradual adaptation to the new environment of interest rates.” This is a new code of good practice, different from the previous one.


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