The Government and the bank are already negotiating against the clock to reach an agreement on the measures with which it is intended cushion the first impact in the update of the mortgage payments in households before the meteoric rise of the Euribor as a consequence of the policy of making the cost of money more expensive by the European Central Bank (ECB) to combat inflation.
The First Vice President and Minister of Economic Affairs, Nadia Calvino, intends that the Council of Ministers approve this Tuesday a range of shock measures that manage to alleviate the increase in mortgage prices, for which negotiations continue both at a technical level and between the Spanish banking leadership and economic representatives of the Executive. Nevertheless, a closed commitment has not yet been obtained despite the fact that there is already agreement on a large part of the most relevant points that should be sanctioned by means of a royal decree law or by a modification of the Code of Good Practices.
The main condition to benefit from the new Code of Good Practices, on which there is an agreement in principle, will be that household income does not exceed 24,318 euros per yeara figure of net income that is equivalent to three times the Iprem, the public indicator of income of multiple effects in 14 payments.
What is still being debated is the scope limit of the measures on the middle class as of January 1, 2023, beyond the offers that each mortgagee negotiates with their entity. Among the options being evaluated are that banks Freeze fees for a year, that make it possible to extend the term of the mortgages if they become more than 30% more expensive and consume at least 40% of the family’s incomein addition to facilitating the change to fixed-rate loans through a novation or change in conditions, a subrogation or transfer to another entity, or a new mortgage.
The extension of the term of the loan would be applied to mortgages at a variable rate signed from 2012 for a first home.
The bank insists that the solutions promoted by the Executive They have to be “temporary”to solve a temporary problem, derived from the rise in interest rates and inflation”.