Mortgage fees can be claimed, if they do not comply with the law.

For many people, the acquisition of a home represents one of the most crucial goals in their lives. This action provides a significant sense of security. However, it is often necessary to apply for a bank mortgage to carry out this transaction. Although the bank charges interest, it may also have decided that we bear certain costs that are not ours to bear. Fortunately, it is still possible to claim mortgage costs.

Identifying Excessive Mortgage Costs

When we go to a bank to apply for a mortgage loan, it is necessary to formalise and register the process. This procedure entails several costs, which together are known as mortgage arrangement costs.

It is important to note that until June 2019 there was no law regulating which costs should be the responsibility of the bank and which should be borne by borrowers. The problem was that the laws prior to that date were unclear in this regard. Therefore, many banks took advantage of the confusion to make customers indiscriminately bear all costs. Now, however, the Supreme Court has ruled that this practice is abusive. As customers, we now have the opportunity to take action.

What the Supreme Court Rules on Each Cost

In relation to the various costs of formalising the mortgage, the Supreme Court states the following:

Notary: Since the court considers that the formalisation of the loan benefits both the client and the bank, it is determined that this cost should be shared by both parties.
Registry: This cost must be borne entirely by the bank, as registering a mortgage in the registry allows for future actions by the financial entity.
Gestoría: If the bank has imposed the use of a gestoría, the costs should be borne by the entity.
Appraisal costs: According to the Supreme Court, appraisal costs prior to the current law must be covered by the bank. The consumer must only face this expense if their mortgage was granted after 2019.

How to Claim Mortgage Expenses

Even if the bank has tried to make us assume all the costs, it is possible to claim and recover our money.

To do so, the first step is to declare the nullity of the clause that imposes such payments. Undoubtedly, we will require the professional assistance of a lawyer and a solicitor for this process. However, the law is on our side and, moreover, these costs are not time-barred, so we should not worry that we have acted too late.

The current law is clear: as consumers, we are not obliged to bear all the mortgage costs and, moreover, we can file a claim against our bank if the mortgage was granted before June 2019. Naturally, having expert help will make the whole process simpler and more reassuring.