Spanish Mortgage Re-negotiation
With the current COVID-19 pandemic claiming the jobs of millions of people around the world, many of us are having to change how we budget due to these extraordinary circumstances.
In some very unfortunate cases, this can mean some people have lost their job or simply don’t have enough money to pay off a mortgage or second mortgage that they could afford before this global crisis.
Why not use the button below and get in touch with the experts at Manzanares Lawyers?
Here at Manzanares Lawyers, we can help you during this time by giving you all the support and advice you need to successfully re-negotiate your mortgage to terms that are more manageable for you during this time.
One of the best ways to go about this that we have found is to contact your bank regarding an interest-only period that can last on a monthly basis up until 12 months. This allows you to not pay for any amortisation of your property over this time, saving you money in the process. This means that your capital that corresponds to these months will either be distributed in the remaining payments or repaid by means of an increase in the mortgage repayment years.