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258,611 Spaniards Ask for Moratoriums on their Mortgage Repayments

The Spanish financial sector has deferred loans amounting to €32.9 billion, which represents 5% of the banks' total loan portfolio, according to data provided on Thursday by the Bank of Spain.

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Spanish financial institutions have granted 787,921 moratoriums on mortgages and other loans to those affected by the coronavirus crisis, equivalent to 80% of the 987,437 applications received. The outstanding balance of the moratoriums granted amounts to almost €33 billion, according to data published on Thursday by the Bank of Spain.

The data is significant, in as much as it evidences the worsening of the financial situation of many families and employees. Based on the data for April and with regard to mortgages, the number of requests for moratoriums amounted to 228,322, of which only 65,559 were approved, which represented an acceptance rate of 28.5%.


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