The abusive expenses of a mortgage are one of the workhorses of consumer organizations.
First, there was a tendency to pass on the entire formalization costs to the client; and secondly, the reviled floor clauses forced to pay interest above what the Euribor marked.
Since 2013, the Court of Justice of the European Union issued a ruling to return the differential of floor clauses to customers, and subsequently, in 2016, the temporal scope has been extended until 2009.
In this article we explain how you can get the return of mortgage expenses and the documentation that must be provided. Finally, reference will be made to the exact amount of expenses that can be claimed, which are not only those derived directly from the mortgage payment.
How to claim the mortgage expenses and get the desired return?
At the time of claim the return of the mortgage expenses there are two procedures to use: the arbitration mechanisms established by financial institutions via extrajudicial means in the form of a claim to the bank (a letter requesting the return of the amounts and delivered to the bank branch) and the judicial route.
As a general principle, it is recommended to start with arbitration because the entity is obliged to respond within a maximum of 60 days. If there is no favorable response, then you can follow the judicial route, which has several possibilities to consider.
In any case, it is essential to bear in mind that the judgments have several interpretations, so you have to know if it really compensates or not to make the claim.
Not all mortgages with floor clauses allow you to claim the amount because, in addition, it will depend on the moment of the purchase in which it was made. On the other hand, it will also be convenient to look at the extent to which the other party has to pay the costs of formalizing the mortgages.
In any case, and since it is a legal issue, it is essential to insist that it is advisable to consult a jurist what expenses must be claimed and in what way. Thanks to this, guarantees will be obtained to collect the money in a timely manner, saving unnecessary procedures.
Once the economic variation has been verified, the documentation must be prepared. It is essential to check that nothing is missing because, otherwise, the process may have to be restarted.
You have to collect, first of all, the deed of the house and the mortgage loan, the two most important reference documents.
In addition, the invoice of the notary, the agency (provided that it is imposed by the bank) and the property registry will be necessary, as well as that of the appraiser and the settlement of the Property Transfer Tax and Documented Legal Acts.
When claiming the expenses of the mortgage, you will have to send this documentation,regardless of what is the additional economic charge to face.
Of course, it is important to keep in mind that, in some cases, there are documents that will not be strictly necessary.
What mortgage expenses can be claimed?
1 – Floor Clause
The most controversial mortgage expense that is claimed is that of the floor clauses because, in the case of long-term mortgages, it is the one that supposes a greater disbursement.
In addition, the extension of the complaints and the sentences that exist in this regard have facilitated the return of these amounts, becoming an issue on the political agenda.
2 – Mortgage Formalization Expenses
There are other expenses that, although they do not have the same amount, can also be claimed.
The case of mortgage formalization expenses is the most obvious, because it used to include the notary’s invoice, the procedures of the agency or the money from the land registry.
Traditionally, the price was impacted on the customer, although now the jurisprudence indicates that, at least, the expenses must be distributed.
3 – Tax on Property Transfers and Documented Legal Acts
Another flagrant case is that of the Property Transfer Tax and Documented Legal Acts.
The current jurisprudence establishes that it is the credit institution that would have to take charge of the payment of the same and, consequently, the client does not have to be the only pagan. Of course, there is a very different interpretation of the payment of these taxes.
There are several laws that protect the rights of the consumer at the time of taking out a mortgage, but the prolonged duration of them makes some issues go back years.
The broadest consideration of floor clauses today dates back to 2009, although it can also be claimed on the costs of formalization on previous dates.
Fortunately, today it is possible to claim with guarantees of success of mortgage expenses because financial institutions and courts of justice are increasingly aware.