- The Code of Good Practice has facilitated more than 43,600 debt restructuring and 7,456 payment dates
- The mortgage moratorium has allowed more than 27,800 evictions to be paralyzed since its application in 2013
Protection measures for vulnerable mortgage debtors launched in 2012 have benefited about 88,000 families. Among them, the Code of Good Practices (CBP) has allowed 51,071 beneficiaries (as of October this year) to have restructured their mortgage debt. In the almost six years of validity of the CBP, 43,607 viable restructuring, 7,456 payment dates and 8 removals have been carried out. For its part, the Social Housing Fund (FSV) has allowed the execution of more than 9,000 rental agreements (closing 2016) and the mortgage moratorium has led to the suspension of more than 27,800 evictions (until December 2017).
The Minister of Economy, Industry and Competitiveness, Luis de Guindos, said today in Congress that the reduction of foreclosures on habitual housing (60% less between July and September compared to a year earlier and 84% less since second quarter of 2014, the highest point) "is being spectacular". De Guindos blames this reduction to a large extent on the initiatives launched by the Executive since 2012 to protect the mortgage debtors most affected by the crisis and the "vigorous economic recovery, characterized by intense job creation."
The CBP, together with the FSV and the suspension of mortgage launches, is part of the set of measures promoted by the Government since the beginning of the X Legislature with the aim of giving a rapid and forceful response to the eviction drama. The CBP was approved in March 2012 with the purpose of solving the families with difficulties to face the payment of their mortgage debts, either because they are unemployed or due to lack of income. During the last years the group that can take advantage of these measures has been extended and the possibility that debtors whose debt has been executed, remain in their home paying an affordable rent has been included. It is a Code of voluntary adhesion but of obligatory compliance for the banks that subscribe it, that at present are the majority.
On the other hand, the suspension of mortgage launches meant in 2013 the stoppage of evictions of those families that were in a situation of special vulnerability. The Government has promoted this year the extension of this measure until 2020 and has expanded the criteria to include the maximum number of vulnerable debtors. The FSV, meanwhile, allows to attend to those cases in which it has not been possible to avoid eviction, facilitating a rental at a reduced price.