Benefits From The New Moratorium On Mortgages And Credits

More than four months after the expiration date of the application to benefit from the moratorium on mortgages and consumer loans approved by the Government, the Council of Ministers gave the green light this Tuesday to a reissue of this measure, which will be adds an extension of the moratorium on loans for tourism and transport companies .

The package, embodied in a Royal Decree that has been published in the BOE this Wednesday, is part of the so-called social shield that the Executive launched to mitigate the effects of the coronavirus pandemic in Spanish homes and companies.

Until December 31, the banks had granted 1.38 million moratoriums , including both those authorized by the Government and those applied by the financial sector (794,386). The legal moratoriums have made it possible to postpone the payment of 220,000 private mortgages, 1,362 mortgages for the self-employed and companies in the tourism sector, 363,176 consumer loans and about 3,000 in companies engaged in tourism and transport, according to data from the Ministry of Economic Affairs .

Households, vulnerable self-employed workers and businesses in the tourism and transport sectors will be able to defer repayment of their loans for up to nine months. The credit may have been granted with or without a mortgage guarantee (typically, the home) . The moratoriums already granted will not be altered, that is, they will maintain the conditions and duration for which they were granted in their day.

However, applicants who have benefited from one or more postponements since September 30, 2020, whether derived from previous decrees or sectorial, may request an additional one only for a maximum accumulated period of nine months.

Consumers in a state of economic vulnerability or companies in difficulty can request the moratorium.

In the case of mortgages, those who are repaying a loan granted for the acquisition of their habitual home, the premises in which they carry out their business or the home intended for rent in which they have stopped receiving the installments of your tenant due to the state of alarm. Companies in the tourism sector may request a moratorium on mortgage loans for properties used for their activity such as hotels, tourist accommodation and travel agency venues.

The moratorium on loans without a mortgage guarantee allows the temporary suspension of returns of consumer loans , credits associated with payment cards , leasing , factoring or any type of financing contract with periodic installments or settlements that any consumer or self-employed person is facing that is in a situation of vulnerability.

Likewise, companies dedicated to the public transport of goods and discretionary transport of passengers by bus may defer the principal payments of the installments of their loans, leasing or renting of vehicles.

According to the rules referred to in the Royal Decree published in the BOE this Wednesday, in order for the potential beneficiary of the moratorium to be considered to be in a vulnerable situation, it is necessary that they meet all the requirements established at the same time. If you are an employed person, you must be unemployed or, if you are self-employed, you must have suffered a drop in sales of at least 40%.

Likewise, the total income of your family unit in the month prior to the request for a moratorium must not exceed 1,694.70 euros (that is, three times the public indicator of multiple effects income, Iprem).

This ceiling, however, is increased: 0.1 times the Iprem for each dependent child in the family unit; 0.15 times the Iprem for each child in the case of a single-parent family unit; 0.1 times the Iprem for each person over 65 who is a member of the family unit; four times the Iprem, without prejudice to the accumulated increases per dependent child, in the event that any of the members of the family unit has a declared disability equal to or greater than 33%, a situation of dependency or illness that disables them from permanent way to carry out a work activity; and five times the Iprem in the event that the mortgage debtor is a person with cerebral palsy, mental illness, or intellectual disability, with a recognized degree of disability equal to or greater than 33%, or person with physical or sensory disability,

The sum of the loan installment plus the expenses and basic supplies of the habitual residence (electricity, gas, oil for heating, running water, landline and mobile telephone and the contributions to the community of owners), in addition, has to exceed or equal 35% of the net income of your family unit, and the effort that the mortgage burden represents on the family income must have multiplied by at least 1.3, as a consequence of the health emergency.

In the case of tourism or transport companies, or of the self-employed whose economic activity is carried out in these sectors, it must be demonstrated that the health emergency caused by Covid-19 has caused a reduction in income or turnover of at least 40 %.

To prove that they meet the requirements of the moratorium, the potential beneficiary will have to present an unemployment certificate issued by the entity managing the benefits, which includes the monthly amount that they receive in terms of benefits or subsidies.

If you are a self-employed worker, you must have a certificate from the Tax Agency or the competent body of your Autonomous Community, certifying the declaration of cessation of activity.

The number of people who live in the house will be verified through the family book or a de facto partner document; the registration certificate relating to the people who share the dwelling, with reference to the moment of presentation of the supporting documents and to the previous six months; and, where appropriate, a declaration of disability, dependency or permanent incapacity to carry out a work activity.

The ownership of the mortgaged property is demonstrated by presenting the simple note of the Property Registry of all members of the family unit and the deeds of sale of the habitual residence, the rental home, or the property affected by the economic activity and of granting of the loan with or without mortgage guarantee.

In the event that a moratorium on the mortgage loan for a rental home is requested, the potential beneficiary must provide the corresponding lease contract.

To all this will be added a responsible statement from the debtor or debtors regarding compliance with the requirements to be considered without sufficient financial resources. Likewise, all the previous documents can be replaced by a responsible declaration when the limitations derived from the state of alarm prevent obtaining them. In this case, however, the beneficiary must provide these documents within a month after the end of the state of alarm – at the moment it is set for next May 9 – or its eventual extensions.

Companies or self-employed workers in the tourism sector that request a moratorium on the mortgage on the properties intended for their activity must present the corporate purpose, their tax address, the CNAE code of their activity, and prove that the property is directly affected the development of an activity in the tourism sector and the reduction of income or billing, by providing accounting information that justifies it.

Self-employed workers who are not obliged to keep the books that certify the volume of activity, must prove the reduction required by any means of proof admitted by law.

Companies or freelancers in the transport sector must prove the reduction in income or turnover, according to the same criteria established by companies and freelancers in the tourism sector, already mentioned.

By Vil Joe

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