CECA and AEB have agreed that credit institutions grant your clients a deferment of the payment of their loans or credits, to overcome the difficulties they face as a consequence of the current health crisis caused by Covid-19. Among the entities adhering to this sector agreement are CaixaBank, Bankia, Kutxabank, CajaSur, Unicaja, Abanca, Ibercaja or Liberbank.
The goal is to allow payments to be deferred within a specified period of time, "they said," which will make it easier for debtors to return to regular payments after the situation has returned to normal. " It is aimed at those people who, despite having suffered a reduction in income and ability to pay due to the health crisis do not meet the requirements to qualify for moratoriums approved by the Government.
Specifically, the beneficiaries will be holders of loans granted prior to March 14, 2020, date of declaration of the state of alarm in Spain, that they do not have operations with breaches and that as a result of the crisis generated by the Covid-19 they have been seen economically affected for becoming unemployed, being affected by a temporary employment regulation file, facing a cessation or reduction of their economic activity or other equivalent circumstances.
Regarding terms, the moratorium on loans or credits with a mortgage guarantee will be up to a maximum of 12 months, while the moratorium on personal loans will have a term of up to a maximum of six months.
Entities adhering to the agreement are required to respond to applicants within a maximum period of 30 days
However, they point out that people who meet the established requirements once the maximum term of the legal moratorium expires, if they have requested it within the term of the sectoral agreement and complying with the conditions established therein, they may also avail themselves of the sectoral moratorium, applying the conditions contained in this agreement. as of that moment and up to a maximum term that, added to the legal moratorium, do not exceed the expected deadlines.
In all cases, the moratoriums regulated in this agreement cause the amortization of the principal of the loan to be deferred during the period of the moratorium, with the result that during said period the beneficiary client will assume the payment of the interests on the principal pending during the moratorium period.
To request these moratoriums, the requests made by the beneficiary clients from April 6, 2020 will be processed and It will be in force until June 29.
Entities adhering to the agreement are obliged to respond to applicants within a maximum period of 30 days from the date of submission of the application along with the documentation that each entity establishes on its website as necessary documentation to prove the condition. For such purposes, the adhered entity may consider sufficient a responsible declaration of the applicant or demand those supporting documents that it considers pertinent.