ICO-LINE MORTGAGE MORATORIUM.

Entry into force on March 1, 2009. Management and applications processing CASTELLO CITY CENTER.

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Available Resources

This line has a maximum amount of 6,000 million euros.


Validity


Since March 1, 2009 until February 28th 2011 or until consumption of the available funds, if that is earlier than the end date indicated.


Purpose

The line is aimed at the partial and temporary postponement of an obligation to pay 50% of the shares of the mortgage period from March 1, 2009 and February 28 2011, with a maximum of 500 euros per month, for of certain groups who hold a mortgage established for your residence, which has been signed before September 1, 2008 and by an amount equal to or less than 170,000 euros and that is not past due.

The postponement of the quotas will be implemented through a contract signed between the customer and the institution with which the mortgage is formalized initially, maintaining the validity and conditions of the initial mortgage.


Customers


CUSTOMER may be the holders of mortgages that prior to 1 January 2010, having at least one of the following conditions:

Being a worker in a legal situation of unemployment and find themselves in this situation, at least during the three months immediately preceding the application, and be entitled to unemployment benefits, contributory or non-contributory.
Being self-employed person who has been forced to cease its business, remaining in that situation ceases for at least three months.
Being self-employed person certifying full income of less than three times the monthly indicator of the Public Multiple Effect Income (IPREM), for at least three months.
Being a retired widow's death occurred after the conclusion of the mortgage, and in any case, dated after September 1, 2008.
In any case, it is prerequisite to qualify to the extent that the debtor is not in arrears on any product which has granted the mortgage.

Subjective conditions of accreditation

The existence of the subjective conditions outlined in the preceding paragraph shall be established by the owners through the presentation to the credit of the following documents, as appropriate:

If legal situation of unemployment, by certificate issued by the Public Employment Service.
As the cessation of self-employed by the certificate issued by the State Agency for Tax Administration, on the basis of the declaration of cessation of activity declared by the applicant.
If self-employed with income less than full three times the monthly IPREM by certificate of the declaration made by the employee responsible to the State Agency for Tax Administration.
In the case of widowhood, by certificate issued by the appropriate agency for Social Security.

Maximum Mortgage
May have access to this line of mortgage holders with an initial amount equal to or less formalized 170,000 euros.

Maximum funding per customer

Up to 12,000 euros

Repayment term
Repayment terms of the amount deferred will begin in March 2012 and may be 3, 5, 7, 10 or 15 years, taking into account the maturity of mortgage credit, in no case be less than the time to formalize postponement of the contract.

Interest rate
The interest rate is variable for the client, reference ICO + 0.80%.

Voluntary early termination
By agreement between you and the lending institution, can be made at the time that the parties agree, the early cancellation of all or part of the operation, without involving the same penalty for the client.

Processing
Directly in the offices of major banks, savings banks and Cajas Rurales in Spain have decided to adhere to this line of funding and from the moment they are signed financing contracts with the ICO.

The applications are examined, approved and formalized by banks and under the conditions stipulated in the contracts for funding.

Documentation
The client has to provide documentation that each institution considers necessary to study the operation.

Guarantees
The credit institution may not require collateral to the customer.

NOTE: At present, ICO and credit institutions that submitted the application for membership to this line of funding, are in the process of drafting and signing of contracts for which funding will incorporate the modifications and enhancements approved by the Government Last February 6.