La insolvencia personal o familiar en España. El código de buenas prácticas bancarias sobre hipotecas / The personal or family insolvency in Spain The code of good banking practices on mortgages

Abstract

Throughout recent history, Spain has gone through several economic crises. However, none of them has had such colossal dimensions as the current one. Among the most significant causes, it occupies an important position one of internal nature which is, among others, the housing bubble. In fact, during its gestation, several mortgage transactions were constituted on properties which appraised value was significantly higher than real. In this scenario, due to the dramatic situation that prevails, much of the consumers and/or users, domestic and foreign, cannot comply in Spain with the contractual commitments originally agreed with the banks. Although various policy measures have been settled to overcome this difficult situation, they seem to be not enough. The last one, as we will see, is the good practice banking code about mortgages.