In loans and other mortgage transactions, the Public Notary ensures transparency and conducts a legal review of the agreements reached with financial institutions.In these transactions, the Public Notary provides impartial and personalised advice, ensuring that the borrower understands and accepts the content of the documentation submitted and provided by the institution (usually a bank).
You will need to go whenever a mortgage loan, a mortgage novation, a creditor subrogation, personal loans, or surety bonds are to be formalized, to name the most common transactions. Notarial intervention is mandatory in mortgage transactions with consumers, following Law 5/2019, of March 15, regulating real estate credit contracts.
Yes, Spanish law requires the intervention of a Public Notary to ensure the transparency of the process and to obtain registration of the mortgage in the Property Registry. This is one of the few cases in which registration constitutes a mortgage (i.e., until it is registered, it "does not exist").
Yes, the borrower has the right to freely choose the Public Notary, which is often influenced by factors such as trust, personal knowledge of the Public Notary, recommendations, or proximity. The Bank may suggest a Public Notary it regularly works with, but this cannot be imposed on the consumer, who will always have the final say.
Generally, the process is completed with two visits to the Public Notary. The first is for the execution of the prior transparency act, and the second, which completes the process, is for the signing, if applicable, of the purchase and mortgage loan.
In this first meeting, the Public Notary will focus on providing individualized information about all the clauses included in the FEIN and the FiAE, and will answer any questions that may arise. However, the Notary Public is not responsible for fulfilling the transparency duties that fall to the lender (usually the Bank). The Public Notary is an impartial official with extremely high legal competence, but does not necessarily have specialized financial knowledge. However, the Public Notary will check and ask the consumer if they have received adequate financial explanations from the Bank, which is the entity that prepares the financial product in question.
Yes, through a mortgage novation, which must also be formalized before a Public Notary. Now, you need to check whether this change entails any fees charged by the bank. To do this, you'll need to refer to the deed you signed at the time, which will list, among other things, all applicable fees.
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Monday, Tuesday, Wednesday, and Thursday from 9:00 a.m. to 2:00 p.m. and from 3:00 p.m. to 6:00 p.m.
Friday from 9:00 a.m. to 2:30 p.m.
Saturday and Sunday: Closed.
The mortgages are acts of great economic and personal significance. At Notaría Vía Augusta 4We offer you the advice and legal support you need to formalise mortgage loans, cancellations, subrogations and other operations related to mortgages with total security.
Acting with rigour and transparency in this type of transaction is essential to avoid risks and to ensure that all parties understand and accept the agreed terms and conditions.
Constitution of mortgages on real estate
Cancellation of mortgages after the end of the loan
Extension, modification or novation of mortgage conditions
Subrogations creditor or debtor
Mortgage-backed loans
Mortgages between individuals or with financial institutions
Our team will review all documentation, explain each clause clearly and ensure the legal security of the transaction.
Understandable and close advice
Experience in mortgage transactions with banks and individuals
Review of mortgage clauses and financial conditions
Fast processing and co-ordination with the Land Registry
For more information, please visit our website https://notariaviaaugusta4.com/
