Spain makes a stand against eviction laws

In Madrid over 5,000 people marched to demand that the government amends the laws.

And big demonstrations also took place in cities such as Barcelona, Pamplona, Valencia and Seville.

More than 350,000 Spaniards have received eviction orders since 2008 because they have been unable to make mortgage payments.

Unemployment is at a staggering 26 per cent, with young people the worst hit as Spain descends into a double-dip recession.

Most of those evicted remain liable to repay the sum originally borrowed after being evicted, even as the value of their homes plunges, rendering them almost impossible to sell.

Stop Evictions platform spokeswoman Ada Colau said the protesters were making three specific demands - to rent out vacant, unsold properties held by lenders as social housing, the government imposes a moratorium on evictions and unemployed homeowners who cannot pay their mortgages can give their homes back to lenders as payment in kind.

Alarmed by growing disquiet over high-eviction rates and the protests they have triggered, Prime Minister Mariano Rajoy's government has already yielded to demands to review the country's mortgage and eviction laws.

But changes affecting the powerful but struggling banking sector could take months or years to be approved as they make their way through parliament.

Ms Colau warned "We cannot permit the legislative initiative that has already been given tacit approval by the government to be weakened or reduced to end up as something unrecognisable.

"Our three demands are the bare minimum required."

Banks either sell repossessed homes for much less than the original mortgage value or can't unload them.

That means the mortgage holders end up owing the difference or paying back the whole loan plus fees and court costs.

And, should they be in the currently unusual position for mortgage defaulters of still having a job, their wages can be attached by the banks.