The government tends not to extend the free transition from variable to fixed or mixed mortgages.

He Ministry of Economy leans towards do not renew That suspense temporary from commission To change of mortgage type variable with another with a fixed or mixed rate (with the first fixed period of at least three years, and the rest with a variable rate). This measure will also affect the Commission for partial or full early repayment loans for the purchase of housing at a floating rate, which was confirmed to the newspaper by sources familiar with the process. If the criteria do not change during the remainder of the year, the duration of these two initiatives, effective in 2023 and 2024, disbands on December 31as planned since the end of last year.

Thus, the executive branch approved temporary deletion these commissions end of 2022 as part of his plan to help mortgage with payment problems in harsh conditions rate hike

interest caused inflationary spiral. A year ago he decided expand it for an additional exercise, since the rates, although starting to fall, were still at a high level. The current situation is completely different: Euribor already at your level lowest since October 2022 (shortly before the government took these measures) and it is expected that keep going down as the European Central Bank (ECB) continues to ease monetary policy. What the executive branch has already done is to extend this period for another year. Code of Best Practice middle-class mortgages that were approved two years ago and also expired at the end of 2024.

The Law Governing Real Estate Loan Agreements 2019 recognizes banks right to charge commission this allows them to compensate “financial loss” caused by early repayments and changes in interest rates on mortgage loans. Over the past two years, the government has taken advantage admission which provided subjects increase in interest income caused by tightening monetary policy in order to suspend the commission and thereby promote embedded can adapt into a new environment. But as soon as the monetary situation normalizes, the department headed Carlos Bodie understand that the time has come return to previous situation

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2025 Commissions

Thus, from January 1 commission for changing a mortgage from a variable to a fixed or mixed rate (whether in the same company or when changing the loan to another bank) will be 0.05% capital if this happens in the first three years. For its part, early repayment of adjustable rate mortgages signed after June 16, 2019 (or for which subrogation or novation was effected after that date) may incur a fee of up to 0.25% of paid-up capital in advance during the first three years of the loan term or 0.15% for the first five years as specified in the contract.

For mortgage flat rateThe commission will operate from 2019 (it has not been suspended over the past two years): 2% for the first 10 years of the loan and 1.5% for the rest. For loans concluded before June 16, 2019, the date of entry into force of the current law, the casuistry is different. The prepayment fee will be a maximum of 1% or 0.5% for adjustable rate mortgages and 2.5% for fixed rate mortgages, depending on the year in which they are signed.

depreciation expected and rate changes mortgage loans already will fall this yeardespite the fact that the suspension of the commissions is still in force. This is partly due to falling base rates, and partly because a large proportion of those with a mortgage who could afford it had already taken action in previous years. Thus, between January and August there was 85,045 novations and subrogations

mortgage loans, which is 21.9% less than in the same period in 2022 and 7.5% less than in 2023. depreciation (current and preliminary) rose 17% between January and September 2023 compared to the same period the previous year, but fell 14% in the first nine months of 2024.

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