RDL 11/2020 has introduced modifications in the regime of the mortgage debt moratorium of RDL 8/2020. Likewise, it has established a system of suspension of loans or credits without mortgage guarantee signed by individuals in vulnerable situations.
- Area of application
The scope of the moratorium, initially foreseen exclusively for the mortgage debt derived from the habitual residence, is extended to the mortgage debt subscribed by an individual for the acquisition of
- properties related to your economic activity as an entrepreneur or professional,
- homes other than the usual rental situation.
- What is understood by economic vulnerability?
The concept of economic vulnerability for the purposes of the moratorium, the application of which is extended both to debtors of mortgage loans and to those of non-mortgage loans or credits.
In this sense, the economic vulnerability for the purposes of the mortgage moratorium and of loans or credits without mortgage guarantee is determined by the joint fulfillment of the following conditions:
a) That the potential beneficiary becomes unemployed or, in the case of being an entrepreneur or professional, suffers a substantial loss of income or a substantial drop in turnover of at least 40%.
b) That the total income of the members of the family unit does not exceed, in the month prior to the request for the moratorium:
- In general, the limit of three times the IPREM
- As special rules:
This limit will be increased by 0,1 times the IPREM for each dependent child in the family unit (0,15 per child in the case of a family unit and for each person over 65 who is a member of the family unit).
The limit is increased to 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 declared a disability greater than 33%, a situation of dependency or illness that accreditably disables them permanently to carry out a work activity.
The limit is increased to five times the IPREM, in the event that the mortgage debtor is a person with cerebral palsy, mental illness, or intellectual disability, as well as in cases of serious illness that accreditably incapacitates the person or their caregiver, to carry out a work activity.
c) That the total of the mortgage payments of the real estate, plus the expenses and basic supplies is greater than or equal to 35% of the net income received by all the members of the family unit.
d) That, as a result of the health emergency, the family unit has suffered a significant alteration of its economic circumstances in terms of the effort to access housing (this situation concurring when the effort that represents the total mortgage burden, understood as the sum of the mortgage payments of the real estate on the family income has been multiplied by at least 1,3).
- Term of suspension
The moratorium on the mortgage debt will last for 3 months, without prejudice to the possibility of extending its duration by means of an Agreement of the Council of Ministers.
- Formalization of the mortgage moratorium
The application of the suspension of loans with mortgage guarantee does not require contractual novation (the conditions such as the interest rate will not change), although it must be formalized in a public deed and registered in the Property Registry. The cost of the Notary and the Land Registry is established by law and may not exceed 75 euros of Notary Expenses and 50 euros of Land Registry Fees.
However, public deeds may not be formalized until the State of Alarm ends,
- Loans without mortgage guarantee
RDL 11/2020 establishes, as we have anticipated, a regime for the suspension of contracts for Loans without mortgage guarantee similar, in general terms, to the moratorium on mortgage credit contracts.
The guarantors and guarantors to whom the suspension of the obligations derived from the credit contracts without mortgage guarantee is applicable may demand that the creditor first exhaust the assets of the main debtor before claiming the guaranteed debt, even if the contract had expressly waived the benefit of excursion.
The Bank or Financial Entity must proceed to the automatic suspension of the obligations derived from the loan contract once the suspension request has been made and the situation of economic vulnerability has been accredited; suspension that will last for three months, extendable by means of an agreement of the Council of Ministers
The effects of said suspension are equivalent to those of the mortgage moratorium: the Bank or Financial Entity may not demand the payment of the installment, nor of any of the concepts that comprise it, nor will ordinary or late interest accrue. The agreed expiration date will be extended as a consequence of the suspension and for the duration of the suspension, without any modification of the rest of the agreed conditions.