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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 202. Oportunity to sell your house in Spain II
28 December 2009 @ 13:52

 

The government will control financial institutions in lending for  social houses purchases through the Financial Monitoring Committee, which was formed on the 21st in December.

 
This is the first time this type of control exists in the history of state housing plans whose objective is to analyze the evolution of the financing of those actions protected by the Housing Plan.

 

The minister says that its goal is that the credit crunch, especially severe in the property sector, is not a barrier for solvent families to obtain their mortgage to access protected housing.

 
Two important measures are:

1. - Up to 48,900 yearly revenue families will receive a direct aid to pay the entry in subsidized housing.

 
2. - Individuals and financial institutions may also qualify to have their houses classified as “protected”.


The Financial Monitoring Committee will meet every six months, chaired by Minister of Housing.  The formation of the Committee was attended by representatives of the following financial institutions: BBVA,
La Caixa, Caja Madrid, IberCaja and CAM.

See part I of this article serie here

Navidad20081225_003 por Alotor.

Christmas lights by Alotor at Flickr.com

 

 



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6 Comments


John Broomhead said:
28 December 2009 @ 15:38

Thanks Maria, but how do I know if my property is eligible for this scheme? I really would like to sell mine ASAP.
Thank you.
John


Maria said:
29 December 2009 @ 05:53

John:
I am posting legal requirements today in the blog but that will need definitive approval as I am waiting for the Royal Decree to come out these near days.

Happy New Year,

Maria


John said:
29 December 2009 @ 11:02

Thanks for the great information.


Phil said:
29 December 2009 @ 22:05

Maria, I would also like to sell a property. However, will it mean that I would have to reduce it a lot to sell it quickly ?

I am still confused as to how all this works. How can I find out more information to get things started to see if it is something that would work for my situation.

Thansk and regards

Phil T.


Maria said:
30 December 2009 @ 16:10

Right now, we need to wait for the Royal Decree to come out. I will explain more in detail once it is out.

But, as everything in life: do not rush!

Best regards,

Maria


Gavin Healy said:
18 March 2010 @ 17:39

Maria,

Do you have any further info on how this is going to work yet I too would like to sell my property.

Gavin


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