The payments on variable-rate mortgages have increased significantly due to the European Central Bank’s policy of raising interest rates to combat high inflation.
It said that the overall number of complaints about the conduct of banks and other financial operators was 9200 in 2022.
It said this was 6 per cent down on 2021 figures, but remained above the average for the five years prior to the COVID-19 pandemic.
Italy’s lenders, meanwhile, say they are ready to respond to the government’s call to extend the duration of variable-rate mortgages for households struggling to make their payments, Italian Banking Association (ABI) President Antonio Patuelli said on Wednesday.
“Italy’s banks have almost two-thirds of their mortgages kept at fixed rates,” Patuelli told the ABI assembly.
“With rates continually increasing, it is possible to extend the length of the mortgages for those who have kept up with their payments or transfer the mortgage (to one offering a better deal).
“The risks for credit to businesses and families are clear.
“Over 10 years of interest rates at zero, they had not forecast the rapid increase in rates and the reduction in liquidity.”
ANSA
