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It is common to find mortgage loans signed a few years ago that is at the same time referenced to the IRPH, contain floor clauses and the obligation to pay all the formalization expenses. In this post, we detail the most abusive elements in a mortgage contract and where they are located.

...continue reading "Most abusive elements in the contract of a Spanish mortgage"

Sooner or later, after several years of complying with mortgage payments, it is time to finish paying it off. This debt ends, either because all the monthly payments have been paid, or because enough capital has been saved to liquidate the loan in advance. The owner of a property must take a series of steps to formally cancel the mortgage. In this post, we detail the steps you have to take in this procedure. ...continue reading "Guide to cancel your mortgage in Spain"

As a seller, you can find yourself facing the situation of wanting to sell your mortgaged house. Of first it can seem a problem, but the solutions are several. It should be borne in mind that each case has its own needs, in this post we will detail the different circumstances that you may have to face and we will analyze them. ...continue reading "Can I sell a house with the mortgage pending payment?"

A tribunal of the Spanish Supreme court recently ruled that banks, not borrowers should pay the tax incurred by notarising and inscribing a mortgage deed, overturning a previous ruling in the opposite direction. Though apparently good news for borrowers, this ruling has left the highest court in the land at sixes and sevens, and plunged the Spanish mortgage market into confusion, with negative implications for the housing market. ...continue reading "The Spanish Supreme Court will decide who should pay the mortgage tax on November 5"

Up to 50,000 people in Malaga province, and possibly millions across Spain, could be in line for a large refund from lenders on their mortgage payments after a surprise EU ruling. This includes many foreign owners with mortgages in Spain and analysts said that payouts could reach four billion euros.

The European Court of Justice (ECJ) in Luxembourg ruled that Spanish banks that had loaned money to homebuyers on variable interest rates were breaking European law when they refused to pass on the savings from the dramatic fall in interest rates after 2009 by enforcing the so-called ...continue reading "Millions of home owners in line for payouts over bank loan abuse"