The difficult situation forces extraordinary measures. Families hardest hit by the pandemic may request Until March 31st that they be temporarily released from the payment of mortgage loans and consumer loans. The measure, approved by the government in the context of first alarm state -with the pandemic wave of March 2020- and extended until September last summer, it will now grant a new three-month moratorium to those who have lost their jobs or are accusing a significant drop in your income because of the coronavirus. The second extension of this social protection tool was advanced this week by the vice president Nadia Calvin.
The initiative of the Executive, from which they would have benefited to date more than 600,000 Spanish families, was complemented by the bank in May, when it assumed the one year deferral for the payment of mortgages and six months for personal loans. Applicants only have to deal with interests, not the main one. The Bank of Spain published at the end of November that the different entities had authorized around 1.38 million moratoriums on mortgage and non-mortgage loans.
MORTGAGE AND LOANS MORATORIUM
Requirements, documentation and deadlines
He Royal Decree-Law 8/2020 of March 17, in which the extraordinary urgent measures were published to face the economic and social impact of COVID-19, detailed both the requirements such as necessary documentation to prove the situation of vulnerability and have access to the moratorium:
• The set of monthly income of the family unit can’t get over three times the monthly IPREM (€ 1,613.52). This figure can be increased by dependent children, the elderly or people with disabilities.
• The mortgage payment plus basic expenses and supplies should be greater than or equal to 35% of income net of the family unit.
• A moratorium can also be requested if as a result of the emergency situation health care mortgage burden has increased more than 30% on family income.
Documentation to provide
• In order to have access to this mortgage moratorium workers by employed must present the unemployment certificate in which the subsidy received, if you are in unemployment situation, and responsible declaration of people listed on the mortgage in which they declare compliance with the requirements.
• In the case of self-employed, it will be necessary sign the responsible declaration, and for those who cease their activity, the certificate of cessation of activity issued by the Tax Agency (AEAT) or the competent body in the autonomous community, in addition to the same responsible statement.
Submission of applications
The entities are responsible for processing the requests and have fully implemented telematic procedures for the ones moratorium applicants do not need to travel to Offices in case they need to request the postponement. In any case, the employees of the entity who are working in the offices are obliged to provide information detailed process. The entity has a half a month term to respond to your customer.
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