CECA spokesperson, Alberto Aza, has assessed on Capital Intereconomía the proposal by Podemos to establish a cap on variable-rate mortgages. He believes that it "lacks the necessary precision" but that such a measure "may have a serious negative impact on the stability of the mortgage market".
Aza described it as "disconcerting" that this is being proposed barely five weeks after the entry into force of the emergency measures agreed with the government to protect vulnerable families from the rise in mortgage rates. "These measures must be given time". He also believes that "if a cap on variable-rate mortgages is put in place, variable-rate mortgages may be given preferential treatment over those who have opted for a fixed-rate mortgage".
With regard to the small number of applications to renegotiate mortgages since the beginning of the year, he believes that it is "a reflection of default rates that are at extraordinarily low levels because the labour market is resisting the onslaught of this crisis. Household incomes have been maintained, which makes it possible to meet repayments. However, the sector believes that there may be an increase in defaults in 2023".
