As you are already aware from the widespread media reports about this matter, the Supreme Court has ruled that the tax subject to Documented Legal Acts (AJD) is the client-borrower and not the financial entity.
Subsequently, the Government has passed a Royal Decree-Law which establishes that, from its entry into force, on November 10th of 2018, it is the creditor who must bear the cost of the tax.
However, consumers and users (not the companies) may submit claims for other expenses and commissions, different from the AJD, to the entity with which the mortgage loan was arranged and which, at the discretion of the Provincial Court, are the following:
- 50% of the bill of the notary in the part corresponding to the constitution, subrogation, and novation of the Mortgage.
- The invoice issued by the Property Registry in the part corresponding to the inscription of the constitution, subrogation and novation of the Mortgage.
- The bill issued by the processing agency that is in charge of handling the mortgage deed.
- The invoice for the appraisal expenses of the property.The COMMISSIONS for loans origination, study, subrogation, novation, claims for late payments or others that are not covered by the service that is effectively provided by the Bank or requested by the client or that have generated an expense. This type of commission may be claimed not only by consumers, but also by companies and even though they have been accrued at the margins of the mortgage market, this is to say, in normal trading transactions.
For this reason, the Legal Department of SERVECO reminds you that it offers to its clients: extrajudicial and judicial claims services free of cost in respect of lawyers’ fees. In the case of a legal claim, the client will only have to pay a minimum amount in respect of fees for the legal representative, which will be returned to the client in case that he gets a favorable judgment including costs of proceeding, which is highly probable.
Likewise, we remind you, as you have already been informed in previous information circulars, that this office continues the campaign to fill payment’ claims regarding the “floor clauses” to consumers and users in very similar terms to those offered in this circular for Mortgage expenses.