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300 Euro Mortgage Assistance Bonus Available For Families In The Murcia Region Spain News

President of the Region of Murcia, Fernando Lopez Miras has announced that families with variable mortgages, living in the Murcia region and with a below-average income, will be able to request a 300 euro bonus to put towards their mortgage.

Lopez Miras recalled the impact that the increase in interest rates is having on variable rate mortgages and said that the payment would help “alleviate the rise in mortgages for those with an income of less than 31,658 euros, which is the average income in the Region of Murcia.

This means that approximately 27,000 families in the Murcia Region will have access to the regional government's mortgage payment aid voucher.

According to Lopez Miras, this pioneering support will be “a real oxygen balloon for thousands of families in the Region of Murcia who have seen their mortgages increase, at a time as complicated as the one Spain is going through at an economic level.

He also stated that "from the regional government we are going to enable 8 million euros with the possibility of reaching a maximum of 12 million to cover this measure."

The regional government, through the Ministry of Economy, Finance, European Funds, and Digital Administration, is working so that this bonus can be requested from the first week of April.

The bonus can be applied for electronically so as to simplify and speed up applications, evaluation of the documents, and payment.

The President recalled that “we are aware of the difficulties that thousands of families are going through, with the price of the shopping basket skyrocketing, the rise in gasoline, electricity, and ultimately a general price increase. That is why the Community is launching support measures to alleviate family economies, and so that reaching the end of the month is not impossible.

He also declared that “the increase in the cost of loans due to increases in interest rates is causing a real rupture for families and the forecast is that these rates will rise.

He also assured that this bonus responds to the fact that "we have followed the recommendations of different institutions, such as the Bank of Spain, which a few days ago advised checks for middle-income families, because they are precisely the group that inflation is making the most of.

This latest offering joins several other actions deployed by the regional government to support family budgets, such as fiscal moderation, the deflagration of personal income tax and the nursery check or the free textbooks.

Other actions include those in the field of housing, such as the youth guarantee, the new model of subsidised housing, support for rent or the construction of a stock of 570 homes for this purpose.

To be eligible for the 300 euro mortgage assistance bonus, as well as not exceeding an income of 31,658 euros, the applicant must have a variable-rate mortgage on their habitual and permanent residence that was formalised between January 2015 and December 2021.

In addition to this, the mortgage must have seen its installment revised between September 2022, which is when the Euribor is above 2 percent, and March 2023. The increase in Euribor must also be at least 30% compared to the previous quota.


Image Credit: Cadenaser