Legislation

Introduction

     Due to its special characteristics, mortgage credit is a financial activity having an eminently local scope.

     By eliminating foreign exchange risk, Euro introduction will, no doubt, favour the generalisation of mortgage supply and demand.

     Given the social importance of this activity and its influence upon domestic economy, it is essential that the internationalisation of supply should go along with a significant transparency endeavour.

     The great variety of products that shall burst in national markets, and their high complexity, may go beyond the capacity of analysing, understanding and evaluating most consumers' alternatives.

     The Spanish Mortgage Association, aware as they are of this impending reality, wish to contribute to transparency progress through the compilation and trilingual publication of Spanish legislation on the matter.

     Thereby, they wish to make such legislation easier to understand for European credit institutions aiming at offering their products in Spain; for Community companies and citizens wishing to promote, build or buy and finance houses in such market; for officials and consumers' organizations of the remaining European Monetary Union countries; and, in general terms, for all those persons and institutions that may need a knowledge on this matter.

Detailed information about transparency and safety of mortgage loans in Spain.

  Order EHA/2899/2011 of October 28th, on transparency and protection of clientes of banking services. New!

  Updated legal texts of the main laws regulating the Spanish Mortgage Market.

  Royal Decree 716/2009, of 24th April, which develops certain aspects of Act 2/1981, of 25th March, regulating the mortgage market and other rules of the mortgage and financial system.

  Law 2/1981, of 25th March, regulating Mortgage Market (modified by Law 41/2007, of 7th December)

  Law 41/2007, of 7th December, by which Law 2/1981, of 25th March, regulating the mortgage market and other rules of the mortgage and financial system are modified... DEC-07

  Extract of the provisions appearing in the Bank of Spain Circular Letter 8/1990, of September 7th, about transactions transparency and customers protection, more directly affecting mortgage loans.

  Law 2/1994 of March 30th, concerning mortgage loans subrogation and modification.

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