The Bank Borrower Protection Association calls for a universal suspension of real estate sales for the coming months.

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The Bank Borrowers Protection Association issued a statement entitled “Borrowers’ Despair Cry”, calling for a universal suspension of sales for the coming months.

It is noted that within the day announcements are expected from the Association of Banks regarding the suspension of the sale process for mortgage properties that concern a first home of less than 350,000 euros.

The following is the announcement of the Association of Bank Borrowers:

Lately, and especially after the new restrictive measures, the Association has been receiving dozens of phone calls every day from borrowers who are really in despair, after they lost their jobs and were left without income. There is virtually no prospect or opportunity for the future for them, they have nowhere to rely on to survive.

The amounts they receive from the current support measures are very low. New support measures are still being planned…

The same is true of the uncertainty surrounding the sale. Hopes seem to exist with the suggestion of the Association of Banks regarding the suspension of sales for mortgage loans relating to houses worth up to 350,000 euros until March 31, 2021. In order to avoid any legislative regulation by Parliament next Thursday (17/12). It is expected that they will proceed to self-regulation of the whole issue.

For us, the suspension of sales must be extended to all real estate, since the cry of despair is from everywhere, the paralyzed tourism industry, leisure centers, small businesses that are collapsing and most of them are locked up leaving the unemployed and without income thousands of employees.                                 

We emphasize that the legal framework of the divestitures is NOT CHANGED, as some whisper. What we clearly support is the temporary suspension of sales for a few months.                                                    

In the face of this unprecedented situation , the Government and the Parliament can not and will not remain indifferent. We therefore call on all those in charge to act promptly and effectively before an entire society and state is led into poverty.

Borrowers depend on the Banks, no one can easily go against the Banking establishment, unless it reaches the same level as them. What we will seek to do is to be able to raise the level of Borrowers closer to the level of Banks.

We have studied very well the technique that we will use to achieve this goal. This technique is not an end in itself. Only in this way could the relationship between Banks and Borrowers be radically changed for the benefit of both parties, but also of the economy and the place in general.