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Resolution Of April 6, 2015, Of The Ministry Of Infrastructure, Transport And Housing, Which Publishes The Agreement Of The Council Of Ministers Of 13 March 2015, Which Are Reviewed And Modified Effectiveness Interest Rates...

Original Language Title: Resolución de 6 de abril de 2015, de la Secretaría de Estado de Infraestructuras, Transporte y Vivienda, por la que se publica el Acuerdo del Consejo de Ministros de 13 de marzo de 2015, por el que se revisan y modifican los tipos de interés efecti...

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TEXT

The Council of Ministers, at its meeting on 13 March 2015, on a proposal from the Government Delegation for Economic Affairs, adopted the Agreement set out in the Annex to this Resolution, which is reviewed and amended. effective annual interest rates for eligible or agreed loans granted under the 1997-1999 Housing Plan programme, the 2002-2005 Housing Plan and the 2005-2008 Housing Plan.

For general knowledge, the publication of that Agreement is available as an annex to this Resolution.

Madrid, 6 April 2015.-The Secretary of State for Infrastructure, Transport and Housing, Julio Gómez-Pomar Rodríguez.

ANNEX

Agreement on the revision and modification of the existing annual effective interest rates for qualified or agreed loans granted under the 1997-1999 Housing Plan program, Housing Plan 2002-2005 and Housing Plan 2005-2008

In the 1996-1999 State Housing Plans, 2002-2005 and in 2005-2008, the criteria were established to set the initial, initial, effective interest rates on loans to be granted by credit institutions in the the framework of the collaboration agreements, signed by the latter, with the relevant ministries, responsible for housing, to finance the actions declared as protected in those plans, as well as, in some cases, their reviews.

In the regulatory regulations of those plans, the time, dates or periodicity and the applicable methods for carrying out the established revisions, of the annual effective interest rates, were also established. qualified and agreed loans.

By Agreements of the Council of Ministers of 18 May 2012 and 11 April 2014, the last review of the interest rates applicable to eligible loans under the 1997-1999 Plan of the 1996-1999 Plan was carried out. the remaining plans, 2002-2005 and 2005-2008, respectively, with interest rates set at 3.30 per 100 per year for the 1997 Programme, 2.97 per 100 per year for the 2002-2005 Plan, and 2.98 per 100 per year for the Plan 2005-2008.

A review of these effective annual interest rates should be carried out again, applying the appropriate methodologies, in each case, to the following considerations:

I. 1997-1999 Plan 1997 programme.

According to the Agreement of the Council of Ministers of 6 June 1997, the revision of the effective interest rate will be calculated by means of an average rate of reference, obtained as an average of the last six months with the information available published on the reference rate of the mortgage loans of the financial institution as a whole, weighing twice the value for the last two months. The revised effective interest rate shall, in each case, be 90 per 100 of the value of the average reference rate. The new rate will apply if the difference from the current rate differs, at the time of revision, at least one percentage point.

In accordance with the above, to the date of the start of the processing of the file, the corresponding values for the last six months for which the Banco de España has published benchmark indices of interest rates corresponding to the set of credit institutions are, as a percentage:

-July 2014: 3.033.

-August 2014: 3.021.

-September 2014: 2,949.

-October 2014: 2,819.

-November 2014: 2,606.

-December 2014: 2,557.

Revised type resulting from loans:

Program 1997, Plan 1996-1999

t

=

3,033 + 3,021 + 2,949 + 2,819 + 2 x 2,606 + 2 x 2,557

=

22,1480

=

2,7685

8

2,7685 × 90% = 2,49165 Rounded to two decimal places: 2.49

This type does not differ by more than one percentage point from the current rate since 2012: 3.30%.

Therefore, the annual cash interest rate resulting from the review carried out in the first quarter of 2015, applicable to loans granted by credit institutions, in the framework of the agreements with the Ministry of Finance. Support for the 1997 programme will continue to be 3.30% per year.

II. Plan 2002-2005.

In the first quarter of 2015, pursuant to Article 5 (c) of Royal Decree 1/2002 of 11 January 2002 on measures to finance the 2002-2005 Housing Plan, it is appropriate to review and amend, in its case, the current effective annual interest rate applicable to all the loans granted or to be granted under the Housing Plan.

According to Article 5 (c) of the said royal decree, the revised interest rate on loans to be granted under the various programmes of the 2002-2005 plan shall be equal to the average of the values of the last two months, with available information, of the percentage rate of reference, rounded to two decimal places, of the mortgage loans of the credit institution as a whole, drawn up by the Banco de España, which is affected by a percentage. This percentage shall be 91.75 per 100, as set out in the Agreement of the Council of Ministers of 5 April 2002, as a result of the application of a system of competitive bids, by the credit institutions which proposed to cooperate. in the financing of the 2002-2005 Plan.

The application of such a competitive bidding system was carried out in accordance with the order of 11 February 2002, which develops and concretely the procedure to be followed in this respect.

In accordance with the above, the corresponding values for the last two months, to the date of the start of the processing of the file, for which the Banco de España has published benchmark indices of interest rates corresponding to the set of credit institutions are, as a percentage:

-November 2014: 2,606.

-December 2014: 2,557.

Revised type resulting from loans:

t

=

2,606 + 2,557

× 0.9175 = 2,5815 x 0.9175 = 2,3685

2

Rounded to two decimal places: 2.37.

Therefore the annual effective interest rate resulting from the revision made, applicable to the loans granted by the credit institutions, in the framework of the agreements signed with the Ministry of Development for the Financing of the 2002-2005 Housing Plan will be 2.37 percent annually.

III. Housing Plan 2005-2008.

In the first quarter of 2015, pursuant to Article 9.3 of Royal Decree 801/2005 of 1 July 2005 on measures to finance the 2005-2008 Housing Plan, it is appropriate to review and amend, in its case, the current effective annual interest rate applicable to all the loans granted or to be granted under the Housing Plan.

According to Article 9.3 of the Royal Decree, the revised interest rate on loans to be granted under the various programmes of the 2005-2008 plan will be equal to the application of a reduction coefficient to the average of the For the last three months, with information available, the percentage rate of reference, rounded to two decimal places, of the mortgage loans of all credit institutions prepared by the Banco de España. The reduction coefficient shall be 0,9175, established by the Agreement of the Council of Ministers of 5 April 2002.

In accordance with the above, the corresponding values for the last three months, to the date of the start of the processing of the file, for which the Banco de España has published benchmark indices of interest rates corresponding to the set of credit institutions are, as a percentage:

-October 2014: 2,819.

-November 2014: 2,606.

-December 2014: 2,557.

Revised type resulting from loans:

Tt

=

(2,819 + 2,606 + 2,557)

× 0.9175 = 2,6607 × 0.9175 = 2,4412

3

Rounded to two decimal places: 2.44.

Therefore the annual effective interest rate resulting from the review carried out, applicable to the loans to be granted and granted by the credit institutions, in the framework of the agreements with the Ministry of Housing, and Currently with the Ministry of Development, for the financing of the 2005-2008 Housing Plan, it will be 2.44 percent year-on-year.

In its virtue, on a proposal from the Government Delegation for Economic Affairs, the Council of Ministers, at its meeting of 13 March 2015, agrees:

First. Permanent annual interest rate, revised, applicable to the eligible loans granted under the 1997-1999 Housing Plan programme 1997.

The effective annual interest rate applicable to qualified loans granted by credit institutions to finance protected actions in the area of housing and land, in the framework of the agreements signed for the Program 1997 of the Housing Plan 1996-1999, among the credit institutions, and the Ministry of Development, will continue to be 3.30 percent year-on-year.

Second. New annual, revised and modified effective interest rate applicable to eligible loans granted for the financing of the Housing Plan 2002-2005.

1. The new annual cash interest rate applicable to qualified loans granted by credit institutions, to finance protected actions in the area of housing and land, in the framework of the agreements signed for the Housing Plan 2002-2005, between the credit institutions and the Ministry of Development will be 2.37 percent annually.

2. This revised and modified interest rate will also apply to all qualified loans granted by credit institutions in the context of the agreements for the financing of protected actions in the Housing Plan. 2002-2005, starting from the first due date, after one month after the day of its publication in the "Official Gazette of the State".

Third. New annual, revised and modified effective interest rate applicable to agreed loans granted for the financing of the Housing Plan 2005-2008.

1. The new annual cash interest rate applicable to agreed loans granted by credit institutions, to finance protected actions in the area of housing and land, in the framework of the agreements signed for the Housing Plan 2005-2008, between the credit institutions and the Ministry of Housing, will be 2.44 percent year-on-year.

2. This interest rate shall apply to all the agreed loans already granted by the cooperating credit institutions, corresponding to the said Plan 2005-2008, except as referred to in paragraph 1 (b) of the transitional provision First of Royal Decree 801/2005 of 1 July 2005, which will be governed by the provisions of Order FOM/268/2002 of 11 February 2002 and in the Agreements of the Council of Ministers to review the interest rate of the loans agreed in the Housing Plan 2002-2005. The new interest rate shall apply from the first due date, after one month after the publication of this Agreement in the "Official State Gazette".

Fourth. Application of the new non-cost modified interest rates for borrowers.

The credit institutions which granted the corresponding qualified or agreed loans, as referred to in the preceding paragraphs of this agreement, shall apply the new interest rate established at no cost to the credit institutions. borrowers.