If you want to buy a home with total guarantee and you need a mortgage loan, Imont advises you and brings you up to date about the new additional guarantees incorporated to the Law of Real Estate Credit and that affects the application and signature of your mortgage.
For years, the clients who requested a mortgage to the bank to finance the purchase of their house in Spain, did not understand, in most cases, with total clarity and transparency the conditions of their mortgage loan.
Today, Spanish legislation has taken a big step forward, reinforcing all the information and documentation prior to signing the mortgage.
At Imont Legal Services, we have already incorporated all these guarantees to our integral process of real estate buying and selling, in our service of buying and selling with a mortgage.
What does the Transparency Act consist of? It consists of a service of advice and information that the notaries must lend to the client who requests a mortgage to the bank, with all the information of the contract of the mortgage loan, 10 days before its signature.
The client will receive all the information and documentation from the bank with the conditions and terms of his or her mortgage, a copy of the mortgage loan contract, a simulation of the mortgage payments in different scenarios according to the evolution of interest rates, the total costs associated with the public deed and who is responsible for paying each expense…
Once the Notary has checked and verified that the client has received all the information about his mortgage, and has also advised him and checked that the client understands all the conditions of his mortgage, the Notary will draw up a Notarial Act, a Transparency Act, at no economic cost to the client.
The client has the opportunity and the guarantee to demonstrate that he has understood the content of his mortgage and the obligations and consequences that derive from its adequate compliance before the Notary, in addition, with sufficient notice, 10 days, to the date of signing his mortgage with the bank..
All this process will be carried out through a technological platform managed by the General Council of Notaries, which communicates and coordinates the Notaries, Banks and Law Firms that manage real estate sales and purchases, such as Imont Legal Services, which provides the information for the management of sales and purchases with mortgages.
The buying and selling of your house with a mortgage in Spain, quick, safe and, with Imont Legal Services, more transparent !