Who is eligible for mortgage repayment deferment due to the coronavirus crisis?

This will definitely interest you if you see how your country’s economy is starting to fall into danger due to the coronavirus. The future is uncertain.But what is true is If there is no income The house could not survive. And the Spanish Cabinet has approved a temporary moratorium on mortgage payments for those Unemployed already Or have you seen how much your income has decreased?

For postponing your mortgage payments You must meet certain requirements.

The decision the government has taken is to provide some form of relief to many families in need and those who do not know how to help themselves during this time. A health crisis that has spread to almost the entire world.The moratorium will trigger a moratorium on mortgage repayments, which will prevent planned installment payments while the Royal Decree is in force. But in order to be eligible for this moratorium You not only have to see your income decrease or not exist at all. But you must also meet various requirements. as described in the Royal Decree Announced in the Official Gazette (BOE)

Requirements to be eligible for a moratorium

• The first requirement that the government sets is Mortgages can only be deferred for ordinary residences, that is, occupied homes. As mentioned above Income due to coronavirus must be reduced. Or you can request it if you are unemployed. If you are a businessman or professionalYou can do this if you have experienced a significant loss of income or a decrease in sales of at least 40%.
• Second, the total income of the family unit must not exceed three times the limit of the Public Impact Indicator of Income (IPREM) per month before the moratorium. That is, if this indicator is currently at 537.84 euros. It must not exceed the income of the family unit. €1,613.52 (three times that amount) if there are dependent children in the family This index increases by 0.1 times the IPREM for each dependent child in two-parent families and by 0.15 times in single-parent families. In addition, this limit increases by 0.1 times the IPREM (53.78 Euro) for persons over 65 years of age as individual family members.
• In the case where the mortgage debtor is a mentally disabled person, mentally ill person, or intellectually disabled person with a recognized level of disability. Equal to or greater than 33%or a person with a physical or sensory disability whose level of recognized disability is equal to or greater than 65%, including in cases of serious illness that prevents the person or caregiver from performing work activities. set limit For this subdivision it is five times the IPREM: 2,689 euros.
• Another thing that must be faced is the mortgage payment plus basic expenses and supplies if it is higher than that. or equal to 35% of the net income received by all members of the family unitThat is, if the above requirements are met. But mortgage payments plus expenses account for 25% of that income. They will not have access to the moratorium.

You will need a set of documents to apply for a moratorium.

How to prove compliance with these conditions?

• If you are unemployed, you must present a certificate issued by the Office of the Basic Education Commission. Benefit management entityThis includes the monthly amount received as unemployment benefits or grants.
• In case of cessation of the activities of the self-employed person: by a certificate issued by the State Tax Administration or the competent authority in accordance with the announcement of the cessation of activities of the interested person.
• The number of people in the house is certified with a family book or de facto couple document. Comes with a registration certificate as well.
• Declaration of disability, dependency, or incapacity.
• Home title deed and mortgage loans
• An indication of the responsibility of the debtor or debtors regarding compliance with specified requirements.

How to request an extension

If all the conditions mentioned above are met. It will be a time when the family unit will be able to ask for it. Mortgage deferral to your bank.As the quarantine continues You can go to the bank. But do not forget that if it is absolutely necessary Because if you have any questions, you can just call.

There are various steps. that must be followed in order to receive a moratorium on debt payments

And what documents do you need to bring to your legal entity? acknowledge:

In the case of an employee The certificate indicates the unemployment situation and includes the amount received as benefits or subsidies per month. This certificate It must be issued by the state public employment service. (P.P.R.)

If you are a businessman, you must present a certificate issued by the Revenue Department stating Termination of activities announced by the employerOf course, in both cases the number of people living in the house must be informed to the bank through the family book or registration certificate related to those registered in the house. On the other hand, if there are disabled people in the house. You will also need to provide a disability certificate..

Finally, it is still necessary to display a simple record. From the Property Registry of all family members Home Sale Deed and Mortgage Lending and a statement of responsibility from the debtor or debtors regarding Compliance with the measures established by the government decree.You can now submit this request. The period is left open for a maximum of 15 days after the decree comes into effect. Which in principle lasts for one month. That’s the last day, May 3, as long as the moratorium isn’t extended.