In the real estate realm, the claim for mortgage expenses has become a crucial issue for those who purchased their homes before 2019. The uncertainty regarding the deadline for filing these claims has kept homeowners on edge, and it’s time to clarify all doubts.
According to information provided by the Bar Association, there is no specific deadline set to claim these expenses. However, in 2019, the Supreme Court established which mortgage expenses banks should bear. Since then, experts have suggested a prescription period of five years, which concludes on January 23, 2024.
Nevertheless, the Organization of Consumers and Users (OCU) points out that some expenses, such as those for property registration, management, appraisal, along with half of notary fees, can be judicially claimed until April 14, 2024. This extended period is due to the suspension of prescription deadlines during the state of alarm.
The importance of acting promptly lies in the possibility of recovering 100% of management, appraisal, and registration expenses, as well as 50% of notary fees, according to the latest Supreme Court ruling. Not claiming means giving up the opportunity to recover these costs and associated legal interests.
The Credit Real Estate Law, in effect since June 2019, clearly establishes the distribution of expenses between banks and buyers. However, this allocation applies only to mortgages before that date. Recent mortgages already have a clear assignment of responsibilities, thus avoiding future claims.
The opening commission and other expenses associated with mortgages also come into play. The OCU emphasizes the possibility of claiming these charges if they were not clearly explained to the consumer, expanding the spectrum of claims beyond traditional expenses.
In summary, the time to claim mortgage expenses is coming to an end. Don’t miss the opportunity to recover your money. The OCU is mobilizing consumers to file claims before April 14, 2024. The fight against abusive mortgage expenses has borne fruit, and now is the time to take advantage of it.
Don’t wait any longer, claim what is rightfully yours! And if you have doubts about what kind of expenses you can claim, don’t hesitate to contact Jaume Domingo, CEO and Founder of Living Sitges; he will be happy to assist you with his experience on this matter.
Article by Living Sitges Real Estate
