The Supreme Court has ruled that it is up to the banks to pay the mortgage appraisal fees. In this judgment, the court rules on the economic effects of the declaration of nullity of the expense clause of mortgage loans between banks and consumers. Finally concludes that the mortgage appraisal fees of (when Law 5/2019, of March 15, regulating real estate credit contracts, is not applicable) they are the responsibility of the bank and not the consumer . This resolution only affects loans signed before this 2019 rule because the Real Estate Credit Act passed two years ago does stipulate that the appraisal must be paid by the borrower, ie the consumer.
With this sentence, all the consequences of the nullity of the clauses that impose on consumers the costs of formalizing the mortgage loan are resolved by the Civil Chamber.
What is the right to a refund?
This doctrine assumes that consumers are entitled to a refund of all expenses paid for the registration of property, management and appraisal, as well as half of notarial expenses .
Only the Tax on Documented Legal Acts, in which the tax rules establish that the main taxable person is the borrower, is borne by consumers.
In short, the Supreme Court considers that the appraisal should be part of the management costs and , therefore and in accordance with the jurisprudence, should be borne the lender , ie the banks. “The so-called appraisal expenses are the cost of the appraisal of the property on which the mortgage security is intended to be constituted. Although the appraisal does not constitute a requirement for the validity of the mortgage, the law requires for direct judicial execution of the mortgage, among other requirements that “in the deed of incorporation of the mortgage is determined the price at which the interested parties tax the property or mortgaged, so that it serves as a rate in the auction, which may not be lower, in in no case, at 75 per cent of the value indicated in the appraisal “.
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