Mortgagors experiencing financial hardship


Since 2012, mortgagors who, for various reasons, have difficulties paying their mortgage have had a series of measures to facilitate their payment. With the recent approval of Royal Decree-Law 19/2022, these measures have been strengthened to ease the burden that mortgages place on debtors at risk of vulnerability.

Thus, in addition to extending the effects of the pre-existing Code of Good Practices (CGP), a new CGP has been created to mitigate the rise in variable interest rates, which may be applied until the end of 2024.

Banks adopt the codes voluntarily and all the banks that adopted the previous code have adopted the new one.

To ensure you have all the information on this matter, we have updated our section on Mortgagors experiencing financial hardship, which contains all the details of both Codes of Good Practice.

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