The percentage of renegotiated mortgages in Spain now stands at 5% of the portfolio of these loans. This is a proportion of normal economic times, given that in 2019 it was at 3%.
Gone are, therefore, the months of 2020 in which the need to grant moratoriums and extend payment terms raised refinancing to 18%. Moreover, the agreement between the State and the bank to promote these operations has already lost its validity and the mortgage market shows great dynamism. However, although the worst seems to have passed, in an unpredictable crisis it is convenient that entities do not trust each other. Any setback in the recovery, and now they are very possible, can cause renegotiation requests to multiply in a few months.