EAmong legislative changes, new Mortgage Law, judgments and others, in the end nobody knows who should pay and what in the expenses and taxes of a new mortgage Although at this point we could paraphrase the economist Carlos Rodríguez Braun: "You lady".
Jokes aside, the Civil Chamber of the Supreme Court has issued a series of sentences to clarify it. And we start from the basis that the High Court considers it abusive that the client is responsible for all expenses. But that said, neither do the entities admit to paying for everything. Whereupon the courts were filling up with demands. The objective is to give a uniform answer.
So, what should you know if you're going to mortgage?
Let's start by defining the expenses and taxes that a mortgage entails: notary, registry, agency, appraisal of housing, without forgetting the Tax on Documented Legal Acts (AJD) or the opening commission (if there is one)
Once we have located them. Let's see
- Taxes of Documented Legal Acts (AJD)). It has been the great workhorse, since it is one of the most bulky amounts and can reach 75% of the total. From the past month of November, it must pay it the bank. Following the change of the Supreme Court's criterion on the mortgage tax, the Government approved a royal decree law so that the tax, which up to that moment the clients paid, the financial entities did. That's true for new mortgages. The rest continues as before.
In this link, you can see what this tax means depending on each autonomous community. And it's not trivial. In Madrid for a loan of 160.000 euros it means little more than 1.500 euros and in Seville, it exceeds the 3.000.
- Opening commission. It moves between the 0,5 and the 2% on the loan amount. Corresponds to the client.
- Notary and administrative expenses they must be paid half by customers and financial institutions, as both parties benefit.
- Registration expenses. The Supreme understands that the Mortgage you register in favor of the bank, so you must pay the registration of the mortgage in the Land Registry. On the contrary, the inscription of the cancellation deed The consumer is interested
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