The increase in the price of the shopping basket and the abrupt rise in the Euribor, the main index for calculating mortgage payments, are testing the resistance of domestic economies, to the point that some families are beginning to consider selling their homes. This is the case of Miriam, a 48-year-old woman from Barcelona, who is going through serious difficulties to pay for her mortgage loan. "From paying a fee of 430 euros per month, I have suddenly paid 890 euros," she laments.
The financial adviser Elizabeth Wakefield explains the alternative ways to survive the rise in Euribor beyond restructuring the debt, which range from trying to make the asset profitable in the rental market through the sale of the property. "If I sell the house, the money that remains can be invested in other options, for example in properties in other geographical regions of Spain where housing is more accessible," she declares. There are, however, other possible solutions.
'Pocket' is a fortnightly podcast that offers information, experiences and advice to learn how to manage better in the complex world of domestic finances. You can listen and subscribe to the "Pocket" podcast through audio platforms such as Spotify, iVoox, Podtail, Podimo, Google podcast or Apple Podcast.
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