Mortune suspension: How does it work, who can request it and when it is easy

In the moments of economic difficulty, it is possible to seek for Mortune Episode suspensionA move that allows you Block the payment of temporary installments For a period of deployment, without fines. But Who can request a mortgage suspension And how does the interests of the interests work during the suspension?

What is mortgage suspension and how it works

Mortune Episode suspension This is a move that is designed to help borrowers in moments of economic difficulty, which allows them Stop payment of installments temporarily Without fines. This possibility is especially useful for people who have presented an income reduction or an unexpected event that compromises with debt repayment.

Usually, Mortune suspension for economic hardship May last 6, 12 or 18 monthsDepending on the specific provisions set by the mortgage type and the bank or by the extraordinary government measures. During this period, borrower No need to pay the amount of installmentsBut interests can still be firm, in ways that can vary according to the type of suspension.

There are two main forms of suspension:

• Total suspension: Prevents both the interests of the capital and the interests of the mortgage.
• Partial suspension: It only allows you to suspend the capital quota, while interests still have to be paid.

Of a single purpose of Mortune Episode suspension This is to protect borrowers from danger INSOLONCY E Attachment of propertyGive them time to recover from temporary difficulties without facing serious consequences. However, it is important to carefully evaluate the suspension mortgage period and the overall cost effects.

Who is entitled to the suspension of mortgage?

Likely to suspend the mortgage This is not automatically guaranteed to all lendersBut it is specific to those with specific economic difficulties.

Who can request a mortgage suspension? Here are the categories that are usually entitled to:

• Employees Those who have lost their jobs unintentionally or have been put into the holidays.
• Freelancers and self -employed workers Which has recorded a significant fall of business (usually equal to at least 30 %);
• Inconsistent with the abnormal eventsNatural disasters, serious disabilities or death of family unit, who participated in income.
• First home mortgage familyOften subject to specific government facilities for suspension.

The right situation may vary according to bank policies or extraordinary measures adopted by the government. Solidarity Funds for the suspension of the first home mortgage.

To check if you return the requirements, it is important that you consult your credit company and, if provided, the provisions published by the Bank of Italy or by the Ministry of Economy and Finance. Refer to.

How does a mortgage suspension need?

Procedure for Mutual suspension request Usually follows these steps:

1. A collection of documents: The borrower must submit an application for suspension with which they are with documents that show the economic difficulty (such as work wasted, reduction in income, medical certificates etc. Announcement for an account).
2. Estimates the application.: The credit company examines documents and confirms that the applicant meets suspension requirements.
3. Approval of suspension and activation: If the application has been accepted, the bank discusses new conditions for suspension and compensation of installments at the end of the suspension period.
4. Resumed the mortgage payment: At the end of the suspension period, the Affairs Plan resumes in accordance with the new terms set.

I The times of approval The application may vary from the bank to the bank, but usually requires the process 30 to 60 days. In order to avoid negative reports in credit registers, suspension is not officially accepted so far the installments must continue.

How to calculate interests during mortgage suspension

One of the most important aspects to consider before applying Mortune Episode suspension That has an effect Collection. Even if the borrower is likely to temporarily stop payments, in most cases The interests continue to be firmMake mortgage more expensive in long -term.

Interest calculation depends on the type of suspension given by the bank:

• Total suspension (capital + interest): During the suspension period, interests are frozen They are not included in the outstanding loan. With the resumption of payment, mortgage continues without collecting additional costs, but the period can be extended to compensate for the suspension period.
• Partial suspension (only capital): The borrower does not pay the capital fees, but still has to pay interest every month. With the resume of the Affairs Plan, there is no change in the outstanding debt, but the mortgage period can be extended to compensate for the suspension of the capital shares.

Practical example of calculation:
If a mortgage is a residual capital 100.000 eurosWith a fixed rate of, 3 % every yearAnd suspension 12 monthsThe interest that will be collected then will be:

100.000 * 3 % = 3,000 (annual interests)

These 3.000 euros They can be included in the outstanding loan or divided into future installments, which increases the overall mortgage cost.

Before requesting suspension, you can ask the bank A fake plan of interest To understand how much you pay.

Is it really easy to mortgage suspension?

Mortune Episode suspension This can be a useful solution for those who are facing a period of economic difficulties, but before making this choice, the benefits and disadvantages must be careful.

The benefits of mortgage suspension

Apply a mortgage suspension can offer different benefits, especially in a temporary crisis situation.

• More liquidity in the short period: Disrupting the payment of installments allows economic resources to allocate other urgent needs, such as medical expenses, fares or family management.
• Protection from the risk of insurance and negative reportingSuspension allows you to avoid delays in payments that can lead to reports in credit registers or in very serious cases, to activate the executive procedure on the House.
• The possibility of reorganizing their financial affairs: The time used by suspension can be used to find new sources of income, to find new jobs or to stabilize the economic situation.

The losses of the mortgage suspension

Although the suspension offers relief immediately, it is important to consider potential negative effects in the middle and long -term.

• Increase the overall cost of mortgageIn most cases, the interests remain firm during the suspension and join the outstanding capital, which increases the total amount returning.
• Lengthening the loan period: To compensate the suspension period, the bank can extend the mortgage period, and after the preliminary project, the loan is diminished.
• Possible restrictions on future credit operationsEven if the suspension is not considered a negative report in credit registers, some banks may evaluate it as a financial volatility indicator, making it more difficult to obtain new loans or funds in the future.

When should this really request a mortgage suspension?

The suspension is just to consider in certain cases:

• If the economic difficulty is temporaryIt is useful when it is expected to restore financial stability in a few months, such as working with a new possibility or temporary reduction in income.
• If the mortgage is still in the early years of depression: In the early stages of mortgage, you pay more interest than capital, so suspension loan has a less important impact on the total cost of the loan.
• If you do not have alternative resources to face the payment of installmentsBefore choosing a suspension, it is advisable to check the possibility of using other types of personal savings or other types of temporary economic support.

Carefully evaluate the factors that it is important to understand whether Mortune suspension Represents a really most beneficial solution or if it is better to consider such alternatives Renewed or sabrigation.

Are there any alternatives to mortgage suspension?

I know Mortune Episode suspension This does not seem to be an ideal solution, there are alternatives to reduce financial effects without increasing the overall cost of mortgage.

Morture Recovery

rhinesty allows you Replace mortgage conditions with the same bankWithout changing the credit company. Can predict:

• Decrease in interest rateIf the market offers better conditions than the condition.
• Length of mortgage loanTo reduce the amount of monthly installment;
• Likely to reduce the episode temporarilyFaced with economic difficulty without disrupting payments.

This option is beneficial because it does not include additional costs and allows you to adapt mortgage to new economic needs.

Mortune surrogate

Morture allows sibrigation Move the loan to another bank Which offers more beneficial conditions. There is an option to evaluate when I am Interest rates are low Compared to the moment of the preliminary condition and you want to reduce the amount of installment.

The benefits of Suburgation include:

• Likely to get cheap interest rates;
• Absence of expenditures for borrowersSince the transfer costs are covered by the Taken Bank.
• Improves the normal conditions of the mortgageWith a possible reduction in the duration or monthly installment.

Rita Remodeling

Some banks offer the possibility of this Change the amount of installments temporarilyWithout completely suspending mortgage payment.

Available options may include:

• Decrease in installment for a specified period of timeWith the later restoration of money in the upcoming installments.
• Temporary phase to a fixed rate to a variable rateIf the trend of financial markets is easy.
• Likely to freeze some part of the debt temporarilyAvoid excessive accumulation of interest.

Before choosing a mortgage suspension, it is always advisable to review these alternatives with your bank or with a financial adviser, to identify the appropriate solution to your situation.