In recent years, many homeowners have discovered that they are entitled to claim the costs associated with the formalisation of their mortgage. This process, although it seems complicated, can be simpler with the right information and specialised professional support. Here we explain everything you need to know to recover the mortgage costs you are entitled to.
What Mortgage Costs Can I Claim Back?
You can claim the following expenses, as long as they are properly documented:
- Notary: Fees related to the mortgage deed.
- Land Registry: Costs for registering the mortgage in the registry.
- Administrator: Fees charged for administrative procedures.
- Appraisal: Valuation of the property prior to the granting of the mortgage.
- Tax on Documented Legal Acts (IAJD): Applicable according to each case and depending on the date of the loan.
How to Calculate the Costs I Can Recover?
The calculation should be based on invoices and receipts for the expenses mentioned. An approximate breakdown would be:
- Notary: Between 0.2% and 0.5% of the value of the loan.
- Registration: Similar to the notary percentage.
- Administrator: Varies between 200€ and 500€.
- Appraisal: Generally between 250€ and 450€.
By adding these values together, you can estimate the total amount to be claimed, which is usually between €1,000 and €3,000 depending on each case.
How Much Money Can I Claim Back from Mortgage Costs?
The total amount depends on the specific conditions of your mortgage and the bank you signed with. The average in Spain is €2,000, but it can vary. Some banks have offered partial refunds, while others have refunded 100% of the claimed fees.
How to Claim Back Your Mortgage Costs
Claiming mortgage expenses does not have to be complicated if you follow the right steps and have the necessary advice.
Steps to Request the Refund of Mortgage Costs
- Gather the Documentation: Include the notary, registry, agency and appraisal invoices, along with the loan deed.
- Rough Estimate: Use tools such as online calculators to estimate the amount.
- Send a Claim to the Bank: Use a formal letter claiming the refund.
- Wait for the Bank’s Response: They may offer you a settlement or reject the claim.
- Go to Court if Necessary: If the bank does not respond or denies the refund, you can go to court.
How Much Time Do I Have to Claim Back from the Bank?
The deadline depends on the interpretation of the courts, but in general, the deadline is 5 years from the last Supreme Court ruling on the matter. Consulting with a legal expert is crucial in order not to miss the opportunity.
Banks That Are Refunding Mortgage Costs
Some banks in Spain have shown greater willingness to repay these expenses following court rulings. Among them are:
- BBVA
- Banco Santander
- CaixaBank
- Bankia (now merged with CaixaBank)
However, others may present resistance, which makes it important to have an experienced lawyer or manager.
Frequently Asked Questions About Mortgage Costs
Some common questions include:
- What if I have lost my invoices?
- Can I claim if my mortgage is already paid?
- What to do if the bank does not respond to my complaint?
Answering these questions will help you better understand the process and avoid common mistakes.
Mortgage Costs in Court: What You Need to Know
Although most cases are settled out of court, some banks will only respond to a lawsuit. Knowing how this process works, the associated costs and the likelihood of success is essential.
Why Choose Finance Luxe to Claim Mortgage Costs?
Claiming mortgage expenses can be tedious if you go it alone, but companies like Finance Luxe make it easy.
How Finance Luxe Can Help You?
Financeluxe is in charge of analyzing your case, managing all the documentation and carrying out the process, either extrajudicial or judicial. Its team of experts guarantees a professional and personalized approach.
Success Stories with Finance Luxe
We have helped hundreds of clients recover what is rightfully theirs. For example, one of our most recent cases obtained a refund of over €3,000, something that seemed impossible for our client.
Why Trust Us?
With years of experience and a highly qualified team, Finance Luxe is a leader in the recovery of mortgage expenses. We offer a transparent process and work with a guaranteed success policy: we only get paid if you win.
Claiming your mortgage expenses is more than a right: it is a way to recover what is fair. If you need support to start this process, at Finance Luxe we can help you connect with the best professionals in the industry. Visit our services page to explore all of our mortgage and financial solutions.
