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This will be the “check” that Yolanda Díaz promises to help pay the mortgage

Date: June 19, 2024 Time: 01:42:03

Yolanda Díaz, second vice president of the Government and leader of Sumar, puts numbers on her check to help pay the mortgages. European Central Bank (ECB) announced a rate hike of 25 basis points, which raised reference rates.

How is the bonus for Diaz’s mortgaged?

Díaz has detailed this Tuesday that the emergency social bonus for mortgaged homes that he wants to implement will cost 1,000 million euros and would be for mortgages of up to 250,000 euros and an age of up to 10 years.

In statements on Cadena Ser, the leader of Sumar, a candidate for the general elections on July 23, explained that this bonus, which she already announced last weekend, seeks to help families overwhelmed by increases in variable mortgage payments after the rate hikes by the European Central Bank (ECB).

“I don’t hear the government say that the ECB’s policy is not behaving,” Díaz lamented, stressing that there are many people who are having a hard time with the rise in the cost of living in this inflationary crisis.

Díaz has also criticized that the leader of the PP, Alberto Núñez Feijóo, has questioned the employment or fiscal data. “He is not prepared to be Prime Minister (…) he does not know what he is talking about (…) or due to a lack of rigor or an uncontrolled mind,” criticized the vice president.

Families pay more for mortgages

The increase in the cost of financing has caused the mortgage payment to have increased by 46% since 2019, according to a study carried out by Idealista, which also details that the savings necessary for the entry of a mortgage have increased by 21%, up to the 42,300 euros.

Specifically, the real estate portal explains that with a 30-year mortgage, according to the average interest rate registered in May 2019 of 2.15%, the average mortgage payments for the first year stand at 352 euros for a two-bedroom home in Spain, while in May 2023, with an average interest rate in April of 3.61%, according to the Bank of Spain, the average amount reaches 513 euros, that is, 46% more.

The evolution of the price of housing falls on mortgages

To talk about mortgages then and now, it is important to consider the price of the house as a key factor. Comparing the years 1994 and 2007, it can be seen that the financing requested 15 years ago has a significant impact on the money requested from banking entities.

The rise in the price of housing in Spain is causing difficulties for tenants. The purchase price is just as high as the rental price. Regarding the purchase, the average appraised price of housing has experienced an increase of 3.1% in the first quarter of the year, according to data from the Ministry of Transport, Mobility and Urban Agenda (Mitma), this being the highest figure since the last quarter of 2010.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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