Alberto Aza: “Capping mortgages can have a seriously negative impact on the stability of the mortgage market”

The spokesperson for CECA, Alberto Aza, has assessed in Capital Intereconomía the proposal from Podemos to establish a cap on variable-rate mortgages. He believes it “lacks the necessary concreteness” but that such a measure “can have a seriously negative impact on the stability of the mortgage market.”

Aza has described it as “disconcerting” that this is being proposed just five weeks after the entry into force of the emergency measures agreed upon with the Government to protect vulnerable families from rising mortgages. “We need to give time to these measures.” Furthermore, he believes that “if a cap on variable-rate mortgages is implemented, those with variable-rate loans may receive preferential treatment over those who have opted for a fixed-rate mortgage.”

Regarding the few requests for renegotiating mortgages since the beginning of the year, he thinks it reflects “a delinquency that is at extraordinarily low levels because the job market is withstanding the blows of this crisis. Family incomes are being preserved, which allows them to meet their payments. However, we believe that there may be an increase in delinquency in 2023.”