Mortgagors experiencing financial hardship

The crisis, unemployment, your income has decreased, you can’t meet your mortgage payments on time, you’re being charged penalty interest and fees… In all these situations the Code of Good Practice can help people who are in serious economic difficulties repay their mortgages.

Banks adopt the Code of Good Practice voluntarily; it is not compulsory. Banks that have done so, and only once they have done so, are obliged to apply the measures envisaged in the Code.

The measures envisaged in the Code of Good Practice will be applied to mortgagors who satisfy certain conditions as to their economic circumstances and the purchase price of the mortgaged dwelling, which must be their main residence (the family home).

The first measure is the restructuring of the debt, which is applied successively. If it is unfeasible, you can request a reduction of the principal or the dation in payment of the house. Finally, if the property has been foreclosed, you can rent it for a favourable rent.

Entities must inform of the existence and content of the Code of Good Practice and process the requests they receive in an efficient manner. Control mechanisms are established to ensure that they comply with these obligations.

El Código de Buenas Prácticas está contenido en el anexo del Real Decreto-ley 6/2012. Esta norma se ha modificado en 5 ocasiones, ampliando progresivamente los supuestos de aplicación del Código y adoptando medidas cada vez más ventajosas para el deudor.

Además del CBP existente, se ha establecido un nuevo CBP para aliviar la subida de los tipos de interés variables cuyas medidas podrán aplicarse hasta finales de 2024. La adhesión por parte de las entidades a este nuevo Código es voluntaria. Si quieres consultar la entidades adheridas visita el primer apartado de esta página.