Banks Granted 1.38 Million Mortgage Moratoriums During the 11 Months to November

The outstanding balance pending repayment at the end of November was 54.5 billion euros, according to data published by the Bank of Spain.

Spanish financial institutions have granted 1.386 million moratoriums on mortgages and unsecured loans to those affected by the coronavirus crisis, with an outstanding balance pending repayment of 54.5 billion euros at the end of November, according to data published this Wednesday by the Bank of Spain.

The figures include moratoriums on both mortgages and unsecured loans that the Government approved in its plan of measures to mitigate the impact of Covid-19, as well as the sectoral credit moratorium agreements negotiated between banks and their clients through financial trade associations, as a complementary measure to the Executive’s legislative moratoriums.

Read the full article in Spanish.