Approval of Royal Decree-Law 19/2022 which, on a transitional basis, with a duration of 24 months, establishes a new code of good practices for the adoption of urgent measures for mortgage debtors at risk of vulnerability.

Credit institutions and other entities or individuals who, on a professional basis, carry out the activity of granting mortgage loans or credits may voluntarily adhere to this code.

The measures are applicable to natural persons who are holders of loans or credits secured by real estate mortgages that meet the following characteristics:

– They relate to the debtor’s or the non-debtor mortgagor’s habitual residence.

– The acquisition price does not exceed 300,000 euros.

– They must be constituted up to 31-12-22.

The applicable measures, which will be developed by Agreement of the Council of Ministers, may consist of, among others, the following:

– The extension of repayment periods.

– The establishment of temporary fixed instalments.

– A special regime for the applicable interest rate.

– The presentation of offers for the conversion of fixed-rate loans.

In addition, some amendments are introduced, among other adjacent regulations, on the protection of mortgagors without resources, subrogation and modification of mortgage loans and real estate credit contracts.

Our professionals are at your disposal to solve any doubts you may have in this regard and to help you with the procedures that may be relevant.