The new scenario left by the current crisis caused by the coronavirus pandemic raises many doubts in various aspects. In this article, we will go on to solve those that are related to family and housing. Read on to answer all your questions.
What should I do to take advantage of the bank mortgage moratorium?
First of all, meet the four necessary requirements to understand that we are a person who is in a situation of economic vulnerability. They all have to be met, it is not valid to partially comply. They are as follows:
- Being unemployed or, in the case of being an entrepreneur or professional, suffering a substantial drop in income or sales, understood as a decrease of at least 40%.
- The income of the family unit, in the month prior to the request for the moratorium, does not exceed a certain threshold: in general, three times the monthly IPREM (Public Multiple Effects Income Indicator), although it will depend on the number of children, dependent elderly or disabled people.
- The mortgage payment, plus basic expenses and supplies, must be at least 35% of the net income received by all members of the family unit.
- And that the family unit suffers, as a consequence of the health emergency, a significant alteration of its economic circumstances in terms of the effort to access housing. Well that the effort represented by the mortgage burden on family income has multiplied by at least 1.3.
If you meet the requirements, you must submit the request to your bank with the form provided from the moment the Decree has come into force and the entities have it available, up to a maximum period of 15 days after the end of the state of emergency.
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To facilitate this management and avoid trips to branches, financial entities are establishing procedures so that debtors can request the mortgage moratorium through digital channels.
Therefore, you have to contact your entity to find out the means of communication that they are facilitating. Once the corresponding documentation has been submitted, the credit institution will have a period of fifteen days to implement the moratorium.
Who can benefit from the mortgage moratorium?
The moratorium on the mortgage debt of Royal Decree-Law 8/2020, of March 17, initially planned for the habitual residence of natural persons is now extended to two new groups: that of the self-employed, businessmen, and professionals with respect to real estate affecting their economic activity, on the one hand, and individuals who have leased properties for which they do not receive the rental income in the application of the measures in favor of the tenants as a result of the state of alarm.
How many monthly payments are possible for the moratorium?
The suspension period of the moratorium is extended for 3 months.
Are the rest of the non-mortgage loans also affected?
With the aim of ensuring that citizens are not excluded from the financial system by not being able to temporarily meet their financial obligations as a result of the health crisis of COVID-19, in parallel with mortgage financing for housing, the Royal Decree-Law 11/2020 of March 31, broadens the scope of the moratorium to credits and non-mortgage loans that keep people in a situation of economic vulnerability, including consumer loans.
These same measures will also be applied to the guarantors and guarantors of the main debtor in which the circumstances indicated for the mortgage moratorium concur.
Is the landlord obliged to grant the postponement?
Large holders have the obligation to grant the postponement, as long as an agreement has not already been reached between the parties, for a moratorium or reduction of rent.
Remember that the main holder is the natural or legal person who owns more than ten urban properties, excluding garages and storage rooms, or a constructed area of more than 1,500 m2.
What if the landlord is not a big holder?
The Royal Decree provides that the landlord and the tenant may agree to provide the deposit to pay all or part of the monthly rent. In this case, the lessee must replace it within one year from the conclusion of the agreement or within the remaining term of the contract, if this term is less than one year.