On this occasion, from Fimax Asesores we want to let you know the content of Royal Decree-Law 8/2020, of March 17, on extraordinary urgent measures to face the economic and social impact of Covid-19, in relation to the moratorium of mortgage debt for the acquisition of a habitual residence. This Royal Decree establishes measures to seek a moratorium on mortgage debt for the acquisition of the habitual residence of those who suffer extraordinary difficulties in meeting their payment as a consequence of the Covid-19 crisis.
1. What loans does it affect?
It affects mortgage loans and credits intended for the acquisition of primary residences for debtors in a situation of economic vulnerability. The same measures will also apply to the guarantors and guarantors of the main debtor, with respect to their habitual residence and with the same conditions as those established for the mortgage debtor.
2. Requirements
In order for the mortgagor to qualify, he or she must meet all of these requirements:
- That the mortgage debtor becomes unemployed or, in the case of being a businessman or professional, suffers a substantial loss of income or a substantial drop in sales.
- That the total income of the members of the family unit does not generally exceed, in the month prior to the request for the moratorium, the limit of three times the monthly Public Multiple Effect Income Indicator.
- That the mortgage payment, plus basic expenses and supplies, is greater than or equal to 35 percent of the net income received by all the members of the association.
family unit. - That, as a result of the health emergency, the family unit has suffered a significant alteration in its economic circumstances in terms of the effort to access housing.
3. What documentation do I have to provide?
The documentation that the RD indicates that must be provided to make the request is the following:
- In the case of legal unemployment, by means of a certificate issued by the benefit management entity, which includes the monthly amount received as unemployment benefits or subsidies. You can obtain it at the electronic headquarters of the State Public Employment Service (SEPE).
- In the event of cessation of activity of self-employed workers, by means of a certificate issued by the State Tax Administration Agency or the competent body of the Autonomous Community, where applicable, on the basis of the declaration of cessation of activity declared by the interested. You can obtain the certificate at the State Tax Administration Agency or the competent body of the Autonomous Community.
- Number of people living in the home.
- Family book or document proving a de facto couple.
- Registration certificate relating to the people registered in the home, with reference to the time of presentation of the supporting documents and the previous six months.
- Declaration of disability, dependency or permanent inability to carry out a work activity.
- Simple note from the Property Registry index service of all members of the family unit.
- Deed of sale of the home.
- Responsible declaration of the debtor or debtors regarding compliance with the requirements required to be considered without sufficient economic resources according to this royal decree-law.
4. Postponement.
The moratorium extends until 15 days after the Royal Decree comes into effect, which is one month. This means that the last day of the moratorium will be May 3, as long as there is no extension, which the legislator does not rule out, according to the text of the regulations.
5. What effects does it have?
The moratorium will lead to the suspension of the mortgage debt. The planned installment will not be paid, neither for the capital part nor for the interest, “neither in full nor in a percentage,” establishes the Royal Decree. While the moratorium lasts, neither the early maturity clause contained in the contract nor the default interest will apply.
For more information, contact Fimax by phone at 928 85 89 30 , or by email at info@fimax.es
