However, this legislation is the rule throughout Europe, although each country has certain particularities. EE UU mortgage models. The payment in kind which does exist in the country It is actually a good recovery, because the original basis of his mortgage system – beyond its enormous diversity – is that the property is a guarantee on the loan and the client only becomes owner when he has paid. If you don’t pay, housing and resolved issue is nothing. But could even go further: in the current situation and rising defaults, has been studying that the diese 15,000 euros to deliver housing which already cannot pay, according to Expansion, he published.

The conservative Europe. Belgium, Germany, France, Greece and the Netherlands are the countries that still more committed to fixed interest rates. Although they have different particularities, respond to a model that bet for stability: strict conditions on income and level of funding for the granting of mortgages. The bet is also shorten the maximum deadlines: mortgages in the environment of 20-year duration. The Europe of the risk. Spain is part of the Group of people who have the highest level of penetration of mortgages at variable interest rate, along with Finland, Portugal, Luxembourg and Malta.

In general, they also share a longer duration of mortgages, around age 30. In fact, in Spain they have come to grant up to 50 years in length. Also the conditions that entities claim for their granting are less demanding: more risk in exchange for more activity. In fact, the Financial Times has just published that in Spain they have already become the easy credits to exit real estate that banks have fallen by defaults. Machinery seems to be starting up again. Source of the news: mortgage Debate: should housing pay off credit?