Higher interest rates by the European Central Bank will lead to higher fixed mortgage rates due to its impact on Euribor, which is expected to lead to a wave of increasing defaults, especially by the most vulnerable families. This is why the major banking employers have come together with the government to design an aid scheme for those owners who are having more difficulty in dealing with the increase in their fees. More Information News No The aid that the government and banks negotiated to avoid defaulting on mortgages for vulnerable families, the AEB and CECA put on the government’s table the option to extend payment terms to vulnerable families, the hardest hit. At the moment, there is no approved procedure, but the options under consideration are the following: Potential future assistance will benefit family units whose annual income does not exceed three times the IPREM (ie 24,300 euros at this time and 25,200 euros from now on). January of next year). In addition, the assistance will be limited, as they mentioned, to owners whose share increases by 30% due to the rapid rise in prices. 40% of the total income of the family unit If the mortgage payment assumes 40% of the total income of the family unit, then they also fall into the group receiving assistance, because it is considered highly indebted, so far. 33% max recommended. The so-called code of good practice proposed by employers, if approved by the government, would be voluntary for banking entities wishing to adopt it, in addition to allowing them to add additional measures they considered. Relevant news criterion Yes Bank is already offering to renegotiate mortgages to its clients with higher risk than Daniel Caballero’s default criterion Yes Rise in Euribor shifts the “boom” in ask and buy rates to hire Guillermo Ginés If the procedure is closed, those banks that will It was decided to implement it by informing the Bank of Spain of each mortgage extension that is formally made, leaving the individual exempt from paying the usual notarized legal business tax. It is about providing facilities to renegotiate mortgages for those families who cannot cope with the sudden and rapid rise in prices. However, at the moment, it is just a hedge on the table that needs to be approved and determined precisely.