If you bought a home before 2019 and you took out a loan, regardless of whether it has already been paid off, today’s blog is for you.
Until 2019 consumers paid expenses that did not correspond to them when buying a house, such as Notary and Land Registry fees or some Taxes. Since the implementation of Law 5/2019, of 15 March, regulating real estate credit contracts, the existing regulation of the expenses that accompanied mortgage loans was modified.
Thus, these costs must now be distributed as follows:
- Notary fees, land registry fees and administration fees are to be paid by the bank, except for the copies of the deed that the consumer buyer wants to keep for himself.
- The appraisal of the property must be paid by the consumer purchaser.
- The Tax on Documented Legal Acts (IAJD) must be paid by the Bank.
What happens if the mortgage is prior to 2019 and is already cancelled?
Expenses clauses do not have any time limit for requesting their nullity.
Moreover, as stated in the latest ruling of the Court of Justice of the European Union of April 2024, no statute of limitations should be established for the costs, as this would mean that by the time a consumer makes a claim, their action would already be time-barred.
How do I calculate how much I have overpaid?
This will depend on the Notary and Registry fees, as well as the Appraisal and Taxes presented, the value of the mortgaged property and the amount of the mortgage loan. In other words, it will depend on many factors, but having the Title Deed of the property, it can be easily calculated.
And it must be taken into account that the higher the amount, the higher the expenses paid and the more the bank will have to pay back.
And how do I claim mortgage expenses?
It is a very easy procedure: it is started by sending a complaint by burofax to the Customer Service Department of the bank that has given the loan and, if the refund is not got, it must be obtained a declaration of nullity by a judicial procedure. Once it is declared null and void, the fees paid and undue charges will be refunded.
Are you thinking of claiming the costs? At R&Moreno we will be delighted to help you. Ask us without obligation and we will accompany you in your procedure.
R&MORENO ABOGADOS
C/ Ramón Gomez de la Serna, 22 Ofic 503
29600 MARBELLA – Málaga
Tfno. +34 658 813 200 – 951 469 361
info@rmorenoabogados.com