When taking out a mortgage, in addition to the monthly payments, a series of other mortgage-related expenses must be covered, which can add up to several thousand euros. Many of these costs have been declared abusive by the courts, and since 2015, banks have been obliged to refund these mortgage expenses in many cases.
In this article, you will find a complete, updated guide explaining which mortgage expenses you can claim, how to do so step-by-step, what the legal deadlines are, and a series of tips to help reduce these types of costs on future mortgages you may encounter.
Mortgage expenses are all costs that can be associated with the formalization, modification, or cancellation of a loan secured by real estate, which may include appraisal, notary and property registration fees, administrative management and other administrative procedures, certain bank commissions, and linked insurance policies, such as damage insurance or life insurance.
According to Supreme Court jurisprudence, many of these expenses must be borne by the bank, not the client.
You might be interested in: fixed, variable, or mixed mortgage.
Before 2015, banks typically required clients to pay these costs, but today, and according to Law 5/2019, the bank must bear these types of costs.
If the bank required you to hire a specific appraiser, you can claim a refund for this cost.
You might be interested in: appraisal 2025.
Some banking institutions used to charge loan opening fees that are now considered abusive, as they amounted to up to 2% of the total loan value.
If you were obliged to take out home insurance or life insurance with the bank, you have the possibility of recovering at least some of that money.
These are fees charged for early mortgage repayment or for transferring the mortgage to another bank.
To claim compensation for mortgage expenses, these requirements must be met:
This is the date when the law regarding these types of expenses changed; therefore, new regulations were already applied to subsequent mortgages.
The client must have covered payments such as notary fees, registration fees, or mandatory appraisal costs.
To claim payment for these costs, you must have documents that prove them, such as invoices or contract clauses, as well as property documents, such as the deed.
Access is only possible if no more than about 15 years have passed since the property was paid for.
According to Spanish regulations currently in force this year, the bank must cover expenses such as those related to notary services and the Property Registry (regulated by Law 5/2019), as well as the costs involved in administrative management and procedures.
On the other hand, the client must cover expenses incurred due to the Stamp Duty (Impuesto de Actos Jurídicos Documentados - AJD), although this depends on the Autonomous Community, and also bear the cost of any type of non-linked voluntary insurance.
Approximate costs can be calculated within the following ranges.
For notary services, costs are estimated between 600 and 1,200 euros. For the Property Registry, between 200 and 500 euros are usually allocated. The opening commission is priced between 1% and 2% of the total loan value. Administrative management ranges from 200 to 500 euros, and damage insurance, for a period of 1 year, ranges from 150 to 400 euros.
For example, on a 200,000 euro mortgage, expenses could be calculated at over 5,000 euros if the bank does not cover them.
You should look for clauses regarding notary fees, registration fees, or mandatory insurance policies that were taken out.
The claim must be sent via a formal letter with all supporting evidence. You can find a template letter on the bank's Customer Ombudsman page.
You can pursue legal action by suing the bank with the help of a lawyer specializing in these types of claims against financial institutions.
Some banks may offer out-of-court settlements to avoid legal proceedings. If you agree with the terms they offer, you can choose to accept them.
If the bank refuses to refund the costs, a complaint can be filed with the CMNV (National Securities Market Commission).
The deadline for filing these claims can be up to 15 years, as established by the Civil Code. Therefore, if your mortgage dates back to before 2013, the deadline could be very close to expiring.
You shouldn't accept the first mortgage offered to you; instead, consider various options from different banks and choose the one that offers the most favorable terms.
Since 2019, these expenses must be covered by the bank as an obligation.
To save on this expense, you can negotiate with the bank, as some banks may agree to waive the opening fee for customers with direct deposit.
You can choose the appraiser and notary that offers you the best prices or that you trust the most; the bank cannot force you to use one of its preferred options.
It's important to remember that any insurance policies offered to you are not mandatory, except for property damage insurance (not life insurance), so you don't have to accept them and incur that expense.
Mortgage costs include notary fees, registration fees, or appraisal fees, and these are expenses the bank is responsible for paying. On the other hand, closing costs can include ITP/AJD or capital gains tax, and these are borne by the buyer.
Yes, provided that the bank made you pay for expenses that were their responsibility, such as notary fees, registration fees, or insurance policies presented as mandatory (and which were not property damage insurance). In this case, you have the right to claim a refund for these expenses.
Mortgage costs can total anywhere from 2,000 to 6,000 euros; the total will depend on the loan and its value.
Yes, you can choose your own notary. The bank can recommend options but cannot impose the use of a specific notary, as it is the client's decision.
This price depends on each bank, but some cover the subrogation costs.
No, only property damage insurance is required.
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Mortgage expenses can represent a significant outlay, but many of these are reclaimable if the bank did not cover them. If you signed your mortgage before 2019, you can check if you paid for costs that were not your responsibility and claim them back. If you need help, you can consult with a lawyer specializing in this process.
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