The negotiation table of the General State Budget 2025 has on the table a proposal that Sumar launched to the PSOE to develop a regulated mortgage with a fixed rate linked to the ten-year Spanish bond, with a minimum of 1% APR .
Sumar’s economic spokesperson in Congress, Carlos Martín, presented a non-legislative proposal this Friday that includes this proposal. Concretely, the training proposes this new regulated mortgage, which would always be linked to the yield of the ten-year Spanish sovereign debt which existed at that time.
According to Martín, this mortgage would be “very competitive” in times of low interest ratesthat’s when propagated of the bond: “It would be a very practical mortgage for households.”
In addition, banks are obliged to offer it: “All banks would be obliged to offer this mortgage, which would be published in the Official Journal with all its clauses so that there is no room for the appearance of any type of unfair clause”, a he declared during a press conference. .
Put an end to the “abnormal” variable market
The conditions for being able to access it would be “the stability of the labor market” and that the cost of the mortgage plus other family debts does not exceed 40% of your incomewhich corresponds to “the reasonable risk standards” with which banks offer mortgage loans today.
The move is part of a series of approaches to introduce more fixed-rate mortgages into an “abnormal” variable mortgage market. The spokesperson recalled that “in Spain, of the total mortgage loans currently outstanding70% are at variable rate and this is the opposite of what happens in other countries like Germany or France, where the majority of mortgage loans are at a fixed rate.
