1.546 million euros in defaulting mortgages
29.03.2006
The Spanish Mortgage Association (AHE), who published today the information of closing of 2005, understands that these numbers demonstrate a ‘good behavior of the payment capacity’ of the Spanish families.
The absolute number of slowness grew in 117 million euros in the last semester of the year, but the percentage of slowness came down of 0,394 to 0,373 per cent in these six months, because the entire mortgages quantity grew to a rhythm superior to that of the non-payments.
The AHE remembered today that these numbers cannot be compared with those of one year earlier, because they have changed the calculation models with the introduction of the International Norms of Accounting (NIC).
With the previous parameters, the slowness in mortgages for housing buy was promoting to closing from 2004 to 900 million euros, 0,292 per cent of the whole.
The new regulation raises the slowness valuations because any loan that incurs payment delay for 3 months is considered to be a bad debt, opposite to the previous norm, which was allowing to extend the term up to one year attending on the type of borrower.
For types of entities, the boxes are those who support more slowness, followed by the banks, by the financial establishments of credit (EFC) and by the credit cooperatives.
Source: Terra Actuality
Europe asks for caution for the indebtedness due to the mortgages
28.03.2006
The European Commission asked that yesterday it prevents to some countries of the Euro area for the high level of mortgage indebtedness of the families, at the head of which Spain is located.
Although it does not see motive of the alarm for the economy of the 12 in his set, in his quarterly economic report, Brussels asked for caution to the countries where more it has raised the price of the housing without there having stopped grow the consumption, like Spain, France and Ireland, where the situation is more worrying.
The community Executive remembers that in case of changes in the price of the housing or in the interest rates, the most vulnerable families would reduce his consumption to balance his financial situation.
This way - the CE advises to the financial institutions to carry to extremes the prudence on having granted mortgages and suggests to check the fiscal incentives to the housing buy.
Millionaire slowness. The residents in Spain owe to the financial institutions 1.546 million euros in defaulting mortgages or of doubtful payment, what supposes 0,373 % of the entire balance for the housing acquisition, according to the information published yesterday by the Spanish Mortgage Association.
Source: 20minutos.es
Advantages of the Open Mortgage of the Caixa
24.03.2006
1. Permanent financing for other ends
The holder can have again on behalf of the money that it has amortized or which he still has not had, and use it for what more is convenient for him, and with an interest more under than that of the traditional personal loans
2. Quota election
The client can choose between a constant or increasing quota.
3. Quotas flexibility
Along the life of the credit, it allows to change the amount of the monthly quotas to expediency of the holder: reducing them, and therefore lengthening the pay-off period, or increasing them and diminishing this one.
4. Postponement of up to 30 % of the capital for the expiration
To obtain a limited quota, during the whole life of the operation, the client can postpone up to 30 % of the capital of the first disposition to amortize to his expiration.
5. Flexible lack
Up to 3 years, which can be used in the moment that the client determines, where only interests are paid.
6. Waiting period
It allows to the clients to be without paying either capital or interests up to a maximum of 12 months.
7. Possibility of hiring the Seviam Plus
Insurance of unemployment that pays the quotas of the mortgage in case the client remains in unemployment.
Funte: The Weekly Digital one
Characteristics and requisites of the mortgage banesto 40
24.03.2006
Principal characteristics
The pay-off period for the buy of the house is of up to 40 years. Also optionally, during the 3 first ones, only the interests would be paid, this way - roominess would be obtained more at first, when one is beginning mounting the house and the expenses are major.
The interest rate can be euribor or IRPH. The euribor can be discounted if we are good clients for the entity, that is to say, that we have hired other products with Banesto.
It is possible to paralyze the payment of the monthly quotas up to 12 followed months. In this time quotas of the mortgage are not paid. As soon as the requested suspension period was passed, the payments are resumed.
Requisites for the mortgage Banesto - Papers to be contributed
* ID card, NIF or card of residence.
* His last two payrolls or the written proof of other income.
* His last income tax return.
* If it is hard-working for proper account, the last four quarterly declarations of the VAT, photocopy of the IAE or high of Fiscal License, photocopy of the revenue on account of the IRPF of last year and photocopy of other written proofs of stable income.
* Contract deprived of buying and selling, call option or sign of the good that he is going to acquire or budget of the investment.
* Writing of written property of the building and well-known simple registral.
* If his matrimonial diet is different from joint property or statutory respectively, writing of capitulations or original certificate of the Civil Record. In case of divorce or separation, certificate of the Civil Record.
* í ltimo I receive from the Tax on Real estate of the good to be mortgaged.
* If it has other debts, the last receipt.
Bancaja is postponing the mortgage to clients in unemployment
23.03.2006
Bancaja has postponed the mortgage loan of 195 clients who have remained in unemployment and who this way - have requested it to the entity. This postponement is without any cost for the client of the box and it extends for space of six months. The entity has done this almost pair of hundred of operations during the last four months, which is the period that takes in force the commitment of the entity that was allowing such a situation.
The postponements have been without any cost for the Bancaja clients
During the third trimester of application of the commitment Bancaja, from December, 2005 until February, 2006, the clients have realized more than 12 million operations covered by 14 points of the commitment, 4 more % of operations than in the previous trimester.
93 % of the clients of the entity proves to be satisfied with the attention and services offered by Bancaja, while those that they suspend to the entity have turned out to be reduced 3 % of the whole of clients with a progress of 40 % with regard to the same study realized in 2004.
Source: The Provinces
Watch his mortgage, To: It is for the whole vidaÂ:
22.03.2006
The Users' Association of Banks Box and Insurances (Adicae) offers, until the next Friday, ‘to report without any cost’ on the change and the review of the claúsulas of mortgages signed by the consumers, before ‘you are still raised them’ of the index Euribor, up to 3,1 per cent.
As he informed today the association, ‘due to the increases of the interest rates, there is generated a risk of sobreendeudamiento of the Spanish families that are to the limit of his real capacities of financing’
Watch his mortgage, To: It is for the whole vidaÂ:
For it, under the motto ‘Watch his mortgage, To: It is for the whole vidaÂ:’, the juridical department of this association indicates the users on the quotas who must pay after the increase of the Euribor, ‘the legality applied rounding’, ‘the amortization system stipulated’ or ‘the supervision of the interest rate that must be applied’.
The index Euribor exceeds 3,1 %
22.03.2006
The index most used to calculate the mortgage loans in Spain reached in the today meeting 3,134 per cent. A percentage point more than in the middle of the year 2005, when this indicator was moving concerning 2,1 per cent.
Citing as an example the monthly quota of a mortgage for 120.000 euros to twenty years, the increase foreseen by the Euribor in 2006 might get dearer this one in approximately 55 euros, on having spent from 625 to 680 euros a month.
Month a month, thanks to the euribor, our monthly quota of the mortgage gets dearer.
Source: telecinco.es
The níºmero of collaborating financial institutions is extended from two to ten with the young mortgage
22.03.2006
Young mortgage of Balearics
The president of the Govern, Jaume Matas, and the counsellors of Economy and Public works, Lluí-s Ramis of Ayreflor and Mabel Cabrer, respectively, signed the agreements of collaboration for which the CAM, Land-bank of Balears, Bancaja, BBVA, Hispanic Central Santander, Box Madrid, Colonya Caixa dÂ'Estalvis of Pollensa and Banking March they join “Sa Nostra“ and “The Caixa” like collaborators in the development of this program.
Matas indicated that the act confirms the acceptance of a “good initiative” and pointed out that the Balearic Executive has endorsed 1.444 requests from the beginning of this program, last October 3.
For the president of the Govern, this fact has allowed “in only five months” the “Young Mortgage” to have transformed of a project “full of illusion and hope” in “a solid and serious alternative” to solve the problem of access to the housing of the citizens younger than 35 years.
Matas added that in the said period, the Govern also has received 24.000 calls to ask for information about this mortgage service, which web page has registered 35.000 visits.
Source: diariodeibiza.es
Attention to the excessive clusulas of some mortgages
18.03.2006
The Users' Association of Bank Services warns that the first bad practices happen before signing the contract
José Francisco Montero, attorney of the juridical services of Ausbanc Consumo in Cordova, analyzed in his paper The consumer before the mortgage loan the bad practices and the excessive clauses that the citizens can find. The first bad practices are detected in the phase previous for the contract, since the financial institutions must facilitate to the interested parties an informative leaflet that specifies the financial conditions of the same one, but many entities do not have this leaflet or do not contribute all the demanded information.
In the appraisal of the building, as told José Francisco Montero, also there take place bad practices, like the imposition of the assessor on the part of the financial institution or the refusal of a report of appraisal made for another bank.
The attorney pointed out that in many cases the promoter asks for a mortgage on the lot to finance the cost of the soil and the building, and in this case the buyer can be replaced or this mortgage or hire other one. Nevertheless, some promoters claim that the substitution is obligatory or do not inform the client about the clauses of the contract.
Also the free election of the notary is broken in many cases to realize the writing. Already in the hiring phase, José Francisco Montero told that many excessive clauses register in these contracts.
ABUSES
This way - in many cases there impose on the borrower certain bank commissions, like the commission of opening and of study, that of debt claim, that of novation (modification of the conditions of the mortgage) or that of early cancellation. Also there are applied clauses by which in the mortgage loans to variable interest the rounding is always practised to the rise, or there is established a minimal ceiling but not a maximum for the interest rate.
Source: Cordoba newspaper
A little of humor. Eternal mortgages
18.03.2006
Mortgages of 30, 40, 50, 100 years where we are going to come.
A humor drop with the eternal mortgage loans.
Text and Images of a T-shirt of Crazy Mushroom
“The ground formed it does that of God. The first hominid appeared 3.600.000 years ago. The last glaciation ended it does only 15.000. This way - that 40 years of mortgage are not a big thing either.”
