More than 85,000 Borrowers ask to Postpone their Mortgage Payments

17 April 2020 – Brainsre.news

Caixabank is the entity that has received the most requests for payment deferrals to date, with almost 50,000 applications.

Just one month after the Government approved a three-month mortgage moratorium for people who have seen their economic situation worsen due to Covid-19, more than 85,000 borrowers have already asked their banks to postpone the payment of their loans, according to reports from Expansion.

That figure includes not only those who have requested to take advantage of the extraordinary measure approved by the Government – whose requirements are very strict – but also those who want to benefit from a repayment holiday, of up to 12 months on the principal (not the interest), that is being offered by a large number of the member banks of the AEB and the Ceca. In both cases, the aid can only be requested for mortgages on habitual residences, although Santander is also offering it for second homes.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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