Subprime mortgages are declining: banks are becoming more cautious and demand from buyers with no savings is disappearing. Today, only 44% of homes are purchased through mortgages, and the average loan-to-value (LTV) ratio has fallen to levels similar to 2019. Mortgages exceeding 80% of the value of the property have reached historic lows. Rising interest […]
The Euribor has experienced an unstoppable rise since January 2022, reaching a rate of 3.647% in March 2023. This rise exceeds previous rises, which represents a burden for variable-rate mortgagors. Since its creation, the Euribor has undergone three periods of rises, the current one being the highest. It is difficult to make forecasts about the […]
Con todo lo que se está hablando sobre la nueva ley aprobada hoy, y resulta que este gobierno, pasa por alto el informe preceptivo del Consejo General del Poder Judicial, en el que se subrayan las competencias autonómicas en materia de vivienda.
Opening Fee on Mortgage Loans: Analysis of the CJEU Ruling of March 2023 The origination fee for mortgage loans has been the subject of numerous judgments handed down by the Courts of Justice in recent years. However, different interpretations gave rise to an oscillating jurisprudence, which led to several preliminary rulings being referred to the […]
A few days ago a client asked me the following question: I am going to buy a house that is 50 years old and in a regular state, with the purpose of reforming it. The value of the property on the market is lower than the cadastral reference value, for what value do I have […]
The government and the banking sector have reached an agreement on the measures to be adopted to alleviate the mortgage burden of more than one million vulnerable families or those at risk of vulnerability due to the rise in the Euribor, while preserving financial stability, according to the Ministry of Economic Affairs and Digital Transformation. […]
Mortgage loans are not the only major expense involved in buying a home. In fact, in order to formalise the deal and become the owner of the property, there are many expenses and taxes to be faced. Between the valuation of the house, the notary, the registry and the corresponding taxes (VAT, ITP…), depending on […]
Another very interesting ruling is given by the European High Court on 16 July 2020. In the judgment with joined cases C-224/19, C-259/19, it rules on the payment of mortgage costs (derived from the formalization of mortgage loans, such as notary, registration, agency, appraisal and taxes) arising from the declaration as abusive of a clause […]
The government has decided to extend the package of social measures it has already decreed in the midst of the coronavirus scare. These include extending the deadlines for applying for a moratorium on the payment of mortgages and rent to large landowners until the end of September. In addition, rental contracts that have expired during […]
The European Court of Justice has ruled that IRPH index for mortgages may be abusive. The European Court of Justice (TEU) ruled today, Tuesday 3 March 2020, that the clause in a mortgage loan contract concluded between a consumer and a professional, with the controversial mortgage index (IRPH), “falls within the scope of the Unfair […]
