GOVERNMENT EXTENDS MORTGAGE MORATORIUM UNTIL END OF SEPTEMBER

2020/07/08 09:02:36 Written by Canarian Weekly National

Yesterday (Tuesday) the Government approved an extension, that will allow the families most affected by the crisis, of the moratorium that will free them from paying their mortgage or a consumer credit/loan for a further three months until the end of September.

So far more than 200,000 people have benefited from this measure, which avoids them having to pay the bulk of their mortgage payment for at least three months, according to the vice president of the Government, Pablo Iglesias.

This represents 83% of people who applied for it, and which is aimed at both homeowners and for premises of self-employed workers, and can accommodate those who have lost their jobs as a result of a temporary regulation file (ERTE), or have seen their income drop significantly.

This extension, approved by the Council of Ministers, can now be requested until September 29th 2020, and also applies to 'consumer loans' from stores and the like, to help ease financial burden.

The banks have granted more than 364,000 requests for consumer loan moratoriums following the criteria set by the Government, 85% of those submitted by their clients, who will also now have until the end of September to request three months of relief.