Bank Mortgage Costs Reclaims
The Catalonian Court in Spain in its Judgement 705/2015 of 23rd December 2015, declared that the banks/mortgage providers should be legally obliged to pay for your Notary Fees, Land Registry Fees, Cancellation of an Existing Mortgage and the Stamp Duty (Modelo 600) on the mortgage. It is now just a matter of time before this becomes law throughout Spain. We have been told that it will become law by June or July.
This is not to be confused with the "Clausulo Suelo" ruling - With the recent coverage in the press about this, I'm sure you're already familiar with what this is all about. See below for our fees for handling Clausulo Suelo Reclaims.
Why has this ruling come about?
Basically, if you were to buy a property with a mortgage - who actually owns the property? The bank! So why must the "purchaser" pay for the banks' legal fees and taxes?
The Consumer Defence Association has stated that we should start gathering information for applicants for past, present and future clients so that once the Court has given their verdict, we are ready to hit the banks with a collective claim on behalf of our clients.
How do you reclaim your property purchase costs from the mortgage provider?
In order to prepare the application to reclaim your mortgage costs on the purchase of your property in Tenerife, we need the following documents:
Passports of owners, NIEs of owners, Mortgage Deeds, Modelo 600 (stamp duty), Notary bill, Land Registry bill, Banks' Gestoria bill, Banks' Mortgage Opening fees, all insurance policies sold to you by the bank.
To reclaim the Mortgage Cancellation fees upon the sale of your property (if it applies)... Cancellation Deeds, Notary bill, Land Registry bill, Charges for Early Payment and Bank Certificate charges.
Once you have all of the above (or as much as you can), make an appointment with us by emailing firstname.lastname@example.org or by calling 0034 922 730 210 or by filling out the form below and one of our agents will get in touch with you.
What are our fees to prepare the application for you?
Our fee for preparing the application is €250 +IGIC.
***If you take out 2 insurance policies with us, this will be reduced to €150 +IGIC.***
We will not charge any additional fees - we will not be entitled to a percentage of your reclaim. We will be submitting applications in batches to each bank once the ruling becomes Law - this means should a lawyer be required to process the applications, their fees will be shared between all applicants in order to lower the legal costs.
Cláusula Suelo Reclaim Costs
Our fee for preparing the application is €600 +IGIC.
If your application is rejected by the bank and you require legal assistance, this will be an additional cost. You may use your own lawyer or we can recommend one for you.