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.

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The most relevant novelty proposed by the Law on loans with mortgage guarantee is that, for the first time, the debtor, before entering into the loan contract, will receive free advice from a Notary Public (chosen by the Consumer), whose informative notarial act will not be present. the lender, the intermediary of the credit institution or its representative. It is a notarial act only with the present parties of the consumer and the Notary, making the information effective, and producing greater freedom for the debtor to express their controversies or request certain consultations and opinions.


In the Notarial Act, the notary will verify the receipt by the debtor of the supporting documents in article 14 of the Law, and that these have been delivered within the legally established period, and must inform individually about the particular circumstances of the offer of loan.  Finally, the parties will carry out a test issued by the Notary, by which it will be proven that the parties have been informed and that they understand the content of the offer. 
Consult BOE Law 5/2019, of March 15, regulating real estate credit contracts
Tags: Law, Mortgage.

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