Banks are asking for a moratorium on variable mortgages due to the Euribor increase

Households are increasingly concerned about rising prices and wages that do not rise. And with the Euribor rising over the past six months, people like Domingo will have to pay extra money when they review their mortgage. In his case, he calculates that about 100 euros more per month. An economic crisis that can destabilize variable mortgages. Álvaro Martín, manager of the real estate company La Casa, explains that, at the moment, about 80% of clients choose the fixed term. For this reason, the bank proposes a moratorium of at least one year on mortgage payments with difficulties to avoid evictions and bankruptcies. Those most in danger are those with variable mortgages over the past five years. A third of mortgages in Spain are variable rate but given the current situation. The trend is that there are more and more fixed rates.