The last sentence of the Supreme Court, which has supported the bank and has not been abusive tax derived from the constitution of the mortgage, has cleared something else the way of judicial claims. The experts of HelpmyCash.com explain that when financing the acquisition of a home, there are two types of formalization expenses that have to be paid: those of purchase and sale (associated with the deed of ownership of the property) and the expenses of setting up the mortgage . According to the aforementioned judgment, the initial expenses would not have to be applied in full to the consumers, but some would be:
- Notary fees: usually represent between 0.1% and 0.5% of mortgage liability plus the cost per sheet of deeds. Experts calculate around 800 euros and the Supreme Court's last sentence stipulates that this item could be divided equally between the bank and the mortgaged one.
- Copies: the invoice will fall on the one that requests them.
- Gestoría: the cost is not regulated by law. It is usually around 500 euros.
- Cost of registration: usually does not exceed 0.2% of the bill, about 375 euros.
- Valuation: between 300 and 400 euros. This expense can be recovered if the client had appraised the property before signing the mortgage with an approved agency and the bank did not accept it and demanded to rehire the services of a company to appraise the property again.
Also, several judges have ruled that the appraisal is an accessory service that is of interest mainly to the bank and that the client does not have to pay, so it could also claim the return of what was paid for this concept under that legal argument.
- Taxes: the Tax on Property Transfers (ITP) and Documented Legal Acts (AJD) depends on each autonomous community and can range between 0.5% and 1.5%. It is the highest expense of the constitution of the loan, around 75% of the total.