With the persistent rise of the Euribor, the mortgages They have become more expensive in the last 20 months. In this sense, the index review to which 3.7 million loans in Spain are linked translates into a increase in fees. In relation to the update this August, mortgage holders will pay on average 227 euros more per month and €2,724 per year. That has ignited alarms of the banking entities, which fear a increase in defaults. Apart from the financial obstacles those that the sector already faces, there are other factors that can incur in the omission of debt payment: that the owner lose your jobthat has health problems or that, in the worst possible scenario, die. Another circumstance is that the mortgagee has a grade of DISCAPACITY o to permanent disability. So,what happens with the mortgage? ¿Can be canceled?
The banks make sure to leave everything tied up, and very well tied up, to be able to recover the money borrowed or, on the contrary, the mortgaged property. Therefore, signing the mortgage includes the obligation to contract other services and, specifically, coverage.
In this sense, the Organization of Consumers and Users (OCU) warned months ago of the increase in the requirement of entities for clients to have contracted life or home insurance, or both, when signing the loan for cover your back.
For this reason, experts recommend taking into account what the mortgage clauses say, since in many cases they include coverings or discounts in the case of suffering from a disease that makes it impossible to credit amortization.
Life insurance is useful for something
This is where the life insurances. There is a tendency to think that they are only intended to deal with the death of a person. It is true that the death compensation is the basic coverage of these policies, but they may also include protection against disability and temporary or permanent disabilityas well as extra services such as legal and medical advice.
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Whatever they were, in case of death or total or absolute permanent disability of the holderit is the life insurance, and not the heirs, that is in charge of pay the outstanding capital to the banking entity, which, consequently, cancels the loan. But in no case will the mortgage be settled without first having resolved your situation.
Not to be confused with the health policy
There are various types of life insurance for a mortgage, but in no case should this coverage be confused with health insurance. Las health policies They include medical care, but not sick leave or disabilities. They can be contracted separately, in the form of add-ons, but that does notor implies that they cover the non-payment of the mortgage.
2023-10-27 06:12:34
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