must be distinguished:
mortgages entered into after February 2, 2007
Article. 7, paragraph 1 of Decree 31 January 2007, No 7, as amended by Act April 2, 2007, No 40, provides for the nullity of " any agreement, even after the conclusion of the contract, including the penalty clauses, which is agreed with the borrower, which may require early repayment or part of a loan agreement for the purchase or for the restructuring of real estate used as a dwelling or to the conduct of his business or profession by individuals, is expected to supply to a particular lender of the subject. "
are therefore null and void the covenants and contractual penalties charged to the borrower in dipendenzadell'estinzione early extinguishment of debt, whether total or partial. The invalidity applies only to clauses in mortgages (ie not those of the other types of financing), is entered into with a bank or with other "non-banks" (such as social security institutions, finance companies, private individuals) who have the following characteristics:
1) loans contracted by an individual acting or not the exercise of business, art or profession;
2) loans for the purchase or renovation of housing units used alternately to home, or in the pursuit of trade or profession of the individual borrower;
1) loans contracted by an individual acting or not the exercise of business, art or profession;
2) loans for the purchase or renovation of housing units used alternately to home, or in the pursuit of trade or profession of the individual borrower;
Mortgages entered into before February 2, 2007
As established by Decree-Law 7 / 07, for the loans contracted before February 2, 2007
actual cost charged to the customer in the event of early termination, it was established by an agreement tral'Associazione Italian Banking Association (ABI) and consumer groups.
The agreement was reached May 2, 2007 in Rome between the ABI and all the consumer associations, and recognized nationally representative list of the Ministry of Economic Development, determining the level of measures for the maximum extinction loans outstanding.
The agreement was reached May 2, 2007 in Rome between the ABI and all the consumer associations, and recognized nationally representative list of the Ministry of Economic Development, determining the level of measures for the maximum extinction loans outstanding.
In detail, the maximum size for extinction will be:
for contracts for the adjustable rate mortgage
• 0.50 percentage points
• 0.20 percentage points in third last year amortization of the loan
• 0.00 percentage points over the last two years for the amortization of mortgage
for fixed rate mortgage contracts concluded before 1 January 2001
• 0.50 percentage points
• 0.20 percentage points in third last year amortization of the loan
• 0.00 percentage points over the last two years for the amortization of mortgage
for fixed-rate loan contracts entered into after December 31, 2000
• 1.90 percentage points in the first half of the amortization period of the loan
• 1.50 percentage points in the second half of the amortization period of the loan
• 0.20 percentage points in third last year of the amortization of the loan
• 0.00 percentage points over the last two years of amortization of the loan.
The agreement also determines the introduction of a safeguard clause for those loans that already include measures of the Board of extinction are equal to or lower than those set by the cartel.
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