The sectoral moratorium proposed by the banks as an alternative for those who cannot access the one regulated by the Government is not free of costs: the sum of 500 to 1,000 euros to the total payment of interest on an average mortgage of 180,000 euros, depending on whether the deferment is for six or 12 months.
In contrast, the "legal" moratorium regulated by the Government allows the deferment of payments at zero cost, but only for three months.
From ASUFIN (Association of Financial Users) they insist to the Government to make more flexible the conditions of access to the mortgage moratorium as well as to extend to six months its extension, because the critical circumstances of our economy make think that only three months do not represent a sufficient relief for the families.
The study elaborated by ASUFIN presents a simulation of a sectorial moratorium based on the operation of mortgage deficiency by which, during the stipulated period, the consumer assumes only the payment of the interest of the loan for each installment. Once the term is over, the outstanding capital earns interest as a result of which the consumer incurs an additional cost in the total mortgage that could reach approximately 1,100 euros. Read more
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