When a mortgage is arranged in Spain The purchasers have had to pay all of the expenses to include and not limited to the notary fees, land registry fees, and stamp duty on this.
The Supreme Courts have ruled that this is also an abusive clause as the beneficiary of the mortgage is the bank as the debt and the mortgage are 2 different things… Because the mortgage is just a guarantee that you are going to repay the debt… Therefore this guarantee will only benefit the bank and for that reason the bank must pay back all the expenses paid by you to register the debt. Spanish Bank Refunds will need a copy of the invoices from the Land Registry Office, Notario and Stamp Duty in order to reclaim your money.
We then need to send a letter to your bank and if they don´t accept reimbursing you your money then we can start a legal action against them.
These new directives are very clear and the limitation period is December 2019 or 4 years since the mortgage was cleared.
Please contact us below if you feel we can help you. SBR