With the rules avoids regular who should pay costs of notary and registration of the credit, If the Bank or consumer, you have everything by means of Laexpansion
The standard will be approved as Bill in the second half of the year. In the absence of modifications in the parliamentary process, the Government has already agreed a draft with PSOE and citizens who will now be forwarded to the Council of State for its opinion. According to sources of the Ministry of economy, There is no other European legislation “such guarantees”, Since the obligation to increase the consumer protection imposed by the directive - this law is a transposition- added additional measures. In his opinion, “does not have why encarecer” loans.
Costs of formalization
Law oblige the Bank to break down into the contract costs of formalization resulting from the mortgage: notary, registration and stamp tax. However does not specify who must pay these associated costs, If the Bank or the mortgaged future. Leave it to the parties negotiating. This makes suppose that it will follow the Wildfire of claims in the courts. The Supreme declared abusive in 2015 that the Bank have impact to the consumer all these expenses and established that they should be distributed in a way “equitable”. You are waiting for a new ruling from the High Court that concrete it. This law shall also regulate payment in kind, or prohibited clauses soil, that by themselves are not illegal.
Linked mortgages
Are prohibited from requiring a financial institution insurance with her determined to grant the mortgage, except so-called exceptional that will lock up the Bank of Spain. However, Yes reduces the interest rate applied depending on the hiring of different products, a widespread practice in Spain. That Yes, the entity must submit two budgets, with and without bonuses.
Change to fixed rate
To promote fixed-rate mortgages, the Government will eliminate the Commission's refund anticipated from the third year. The previous two this surcharge shall be limited to a maximum of the 0,25% the amount of the loan. They will also be reduced “to the minimum” tariffs that charge notaries and registrars.
Interest on late payments
They may not exceed three times the legal interest of money. Now there is a stop.
Early repayment
The draft will harden the regime for banks, in such a way that no longer have a right to collect any penalty if the mortgaged requests the amortization (total or partial), unless he calls in the first three years of the mortgage. In that case, You can collect compensation provided that this does not exceed the 0,5% the amortized capital. This percentage falls to the 0,25% in the next two years. In the case of fixed-rate mortgages this threshold is of the 4% debt amortized over the first ten years (of 3% then).
Notaries and registrars
The consumer is obliged to pay a visit to the notary prior to the signing of the mortgage to be informed of the problematic clauses and answer questions for free. This rise minutes from that meeting to prove that the mortgaged includes information. The notary is obliged to monitor that the mortgage do not pick up any of the abusive clauses of the General registry of hiring conditions, who are those that have been the subject of judgment and harder will face a sanctioning regime. Sources of the Ministry of economy ensures that measures will be taken so that this record be updated more quickly.