Main residence
The family’s main residence is so important that it deserves special protection.
To apply the measures envisaged in the Code of Good Practice, the mortgage collateral must be the main residence of the borrower experiencing financial hardship.
The same applies to sureties and guarantors as regards their main residence.
The measures envisaged in the Code shall not apply where the mortgage collateral is the debtor’s second home or a business or other premises.
FREQUENTLY ASKED QUESTIONS
What is meant by saying that a restructuring plan is not viable?
Read answeraboutWhat is meant by saying that a restructuring plan is not viable?
Can I request debt restructuring if the loan was not used to purchase my home?
Read answeraboutCan I request debt restructuring if the loan was not used to purchase my home?
