Closed – in the beginning – the way to apply for the taxes to set up a mortgage through the education courts, the buyer only has the civil road to request reimbursement of expenses that he pays when he is granted a loan. "Consumer associations can continue to sue banks claiming unfair terms for these expenses, but only on the civilian route," says Professor of Financial and Tax Law at the UOC Benja Anglès. The Spanish court – he adds – could end up raising the European Court of Justice for the resolution of these clauses, as it did with the land clause.
But what are these expenses that the banks fall into the customer? The first is the evaluation. It is mandatory by law to establish the mortgage and serve to determine the real value of the property. It must be done by an assessment entity registered and registered in the Bank of Spain. Its cost varies between 250 and 500 euros, depending on the entity. The second is the confirmation in the property register that the property has no costs. It costs around 30 euros.
Once the mortgage has been granted, in addition to taxes on documented legal documents, some banks require a commission from the opening, which can reach 2% of the capital that has been lent. At the same time, it pays the notary fees that are produced for the granting of the public deed of the mortgage loan and those for the registration of the deed in the property register. Finally, the buyer is also responsible for registering or replacing supplies of water, gas and electricity. In the case of water, for example, the cost with the purchase of the meter exceeds 250 euros in Barcelona.
Products related to the mortgage
In addition to these expenses, many mortgages also include the sale of products related to the duration of the loan. The most common are the assumption of home insurance or life insurance. For the first there are banks that reach 800 euros the year, if they are taken from the mortgage, the cost is just over 200 euros. Other bank requests when granting the mortgage is the payment of the payroll to the account through which the loan is paid or the credit or debit card is taken.