The mortgage dictionary is a section of the website that allows you to know in detail the definition of all the terms related to the contracting of a mortgage or mortgage product, one of the financial operations that must be thought about and analyzed the most because it involves a significant debt that will be paid over several years. The Notary Bosch-Bages of Barcelona wants with this page to facilitate the knowledge of the most important concepts related to this type of Notarial services related to mortgages.

TweetWho is required to advise on loans?

It is an obligation that the lender, credit intermediary or designated representative carry out the informative activity of informing the borrower about the offer of the real estate loan before the conclusion of the contract, but there is no obligation to provide additional advisory services to the obligors. legally.


The counseling activity can be carried out by: 
  1. The lender 
  2. The real estate credit intermediary
  3. Representatives appointed by any of the above positions
  4. Persons who provide advisory services, provided that they are recognized by the competent authorities, and are subject to supervision of the requirements established by the Law. 
The aforementioned subjects must express in advance to the borrower, giving a negative or positive answer, if they can carry out the advisory service. In any case, they must inform in advance about: 
  1. the set of products that will be taken into consideration regarding the consultation; Y
  2. The cost  that such advice would entail and that they will bill the borrower. If the advice is free of charge, it should be indicated to the borrower. 

Consult BOE Law 5/2019, of March 15, regulating real estate credit contracts
Tags: Mortgage Law.

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