Finally, the Supreme Court of Spain has ruled that customers will have to pay the mortgage tax when they buy a property. After 15 hours of debate about who should pay the tax, known as AJD, the Supreme Court judges voted from 15 to 13 that the client must pay the bill, not the bank. Banks win and the citizen loses. ...continue reading "The decision of the Supreme Court on the Spanish mortgage tax the highest in Europe"
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"