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The Government approves the mortgage moratorium for the tourism sector

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New attempt by the Government to revive the tourism sector. The extraordinary Council of Ministers this Friday has approved a royal decree-law for the mortgage moratorium on buildings affected by tourist activity.

This decree grants them a moratorium period of up to 12 months to deal with mortgage-based financial operations signed with credit entities.

The self-employed and legal persons with registered office in Spain can take advantage of this measure to cushion the impact of the coronavirus on their activity.. The moratorium does not contemplate the amortization of capital, only the interest on the mortgage debt.

Along with this decree, the Executive of Pedro Sánchez has approved two other measures to reactivate the sector. All of them are included in the 'Plan to Promote the Tourism Sector' presented on June 18 by the Prime Minister.

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