Legal Moratorium on Non-Mortgage Loans and Credits due to COVID-19

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On February 3, 2021, Royal Decree-Law 3/2021 was published in the Official State Gazette, which established an extension of the application period (until March 30, 2021) and the duration of the moratoriums set out in the previous law (up to 9 months).

The law provided for urgent and extraordinary measures to address the socioeconomic impact of COVID-19, and described the conditions, documents and timeline to request a moratorium on the payments on non-mortgage loans and credits.

Our customers with a non-mortgage loan or credit at BBVA who satisfied the vulnerability conditions due to COVID-19 were able to apply for this moratorium, during which time their payments on a non-mortgage loan or credit were suspended for up to nine months, with no payments and no late interest.

It was important to keep in mind that the application of the moratorium changed the duration of the non-mortgage loan or credit by the same length of time as the payments were suspended.

What did this Legal Moratorium on Non-Mortgage Loans and Credits entail?

BBVA offered its customers (employees and the self-employed) who have a non-mortgage loan or credit with BBVA dated prior to March 13, 2020, and who anticipated having temporary problems making their monthly payments due to reduced earnings as a result of COVID-19, the option to apply for this legal moratorium.

It consisted of postponing the full payment of the non-mortgage loan or credit (no principal or interest payments) for the duration of the moratorium, up to a maximum of 9 months.

If you previously received the Legal or Sector Moratorium, or both, for your non-mortgage loan or credit, the sum of the two could not exceed 9 months.

What did the application of the Legal Moratorium on Non-Mortgage Loans and Credits mean?

During the postponement period, the full loan payment was not made and the duration of your non-mortgage loan or credit was extended by the length of the Moratorium 

Once the moratorium is over, the outstanding principal will have to be repaid to the Bank through payments that include both the principal and interest, which are recalculated based on the terms agreed in the non-mortgage loan or credit. The Bank provides a new repayment schedule for the remaining installments.

How the moratorium was requested

To submit the application, you had to contact your branch or your usual adviser. They answered any questions and told you what documents you needed.

Documentation required to request the moratorium on non-mortgage loans due to COVID-19

Employment status documents

  • If legally unemployed: a certificate issued by the company managing the benefits that shows the monthly amount received for unemployment benefits or subsidies.
  • In the event of a work stoppage by self-employed workers: certificate issued by the State Tax Administration Agency (AEAT) or by the competent body of the Autonomous Community, where applicable, on the statement of work stoppage declared by the applicant.

Documents that can be used to verify the number of individuals living in the property

  • Family book or document certifying the registration as a civil partner.
  • Census certificate for the individuals registered in the property, with reference to the time of presentation of the supporting documents and to the previous six months.
  • If applicable, a declaration of disability, dependency or permanent disability to carry out an employment activity.

Affidavit from the borrower

The affidavit that must be signed by all the borrowers, indicating compliance with the legal requirements to be regarded as having insufficient financial resources, is contained in the application form, which is available at your branch.

Moratorium implementation period

The deadline for requesting this moratorium was March 30, 2021. 


Regulation that lays out this process

  • Royal Decree-Law 11/2020, published in the Official State Gazette on April 1, 2020
  • Royal Decree-Law 26/2020, published in the Official State Gazette on July 8, 2020
  • Royal Decree-Law 3/2021, published in the Official State Gazette on February 2, 2021.