Posts Tagged ‘housing’
Following today’s decision unanimously in the Senate, referring to the removal of soil clause included in mortgage contracts, Ausbanc wants to show publicly welcomed this initiative and that the clause, which prevents mortgage although lower than the Euribor do so, constitutes an abuse by the banks, which harms the economic interests of consumers. As published in various media, the Senate has already approved the deletion of the clause in mortgage land. This clause, which apparently existed since time immemorial, it has become fashionable since our dear Euribor has decided to take a vacation and lose miserably. Of course, this comes to them fatal banks, so they’ve had to resort to this clause that imposes a minimum at which the transactions are tied, no matter which reaches values.
I do not know what you think, anyway Congress has to approve it, but if it goes ahead it seems that banks will have to seek other tricks to gain right?
This type of clause provides that in the writings of some mortgages there is a paragraph which stated that although the Euribor lower and lower, the minimum rate to be applied shall be 2%, 3% or even 4.5%.
The block Senate urges the Government to remove the soil clause mortgage:
- The Upper House plenary session this morning approved a motion by the parliamentary group in which the Government claims the implementation of measures to prevent the abuse of some banks in the review of mortgage loans. The ground clause, which prevents down mortgages, has focused criticism from consumer associations in recent months.
- The initiative passed the Senate enforces amended text of the General Law for Protection of Consumers and Users (Royal Decree 1 / 2007 of 16 November), which provides for exclusion of unfair terms.
- It also calls for improving consumer protection in financial services proceeding to ask the Bank of Spain the development and referral within three months of a report on the existence of clauses in mortgage contracts that limit the rights of users , identified the lack of reciprocity and proportionality.
Institutions know that never reach the ceiling of 10% set their mortgage contracts, along fixing soils of 3% and 5%:
- In addition, claims to establish the effective translation of declines Euribor quoted at 1.247% – the share of mortgages, so that people look better when the Euribor contracts fall as the current rates.
- Senator the DB by Segovia, Francisco Javier Vazquez, was pleased to be able to reach an agreement that will benefit two of every three citizens who have mortgages, if the Government complies with the constitutional obligation to implement the mandates Parliament.
- During his speech, echoed consumer groups and users for months denouncing the existence of mortgage terms that prevent users benefit from as low as Euribor today, because many of the contracts signed in ceilings years contain 14% or 15%, that financial institutions know that will never be met, while the soils were between 3% and 5%.
A non-advertised
- The popular senator criticized that such clauses did not contain advertising of loan contracts and in many cases were not warned consumers, being able to have incurred a lack of transparency in the inclusion of clauses on the type of imitative interest “.
- Thus, the popular parliamentarian denounced the practice of some financial institutions, with at least dubious interpretations of legislation to protect consumers and users, prevent impact contract Euribor downs of mortgage loans.
- “These practices may be considered unfair within the banking sector, since its purpose is to prevent mortgage fees are reviewed in their entirety Euribor declines,” he said.
- Vazquez warned that such practices may violate the General Law for the Protection of consumers and users that establishes the exclusion of unfair contract terms.
Before buying or renting a home, consult the planning. We indicate the possibilities offered by new acquisition. Here’s overall planning legislation for a municipality to understand, to some extent, restrictions on property rights from the urban area.
a) A municipality is equipped with a General Urban Plan or of a subsidiary rule which classifies the entire floor of its municipal level. The classification can be:
1. Urbanized: Is that where existing buildings or can be built in the future, as it has the necessary equipment, such as vehicle accesses, water, electricity, disposal of faces, and so on.
2. Developer: The rules allow future construction but prior owners must transform the urban soil. Should be conducted in the urban development work required to provide the necessary ground equipment mentioned above. In addition, the City may require to carry out more works, how to make vials of communication, communal reserve land for endowments: schools, malls, parks, etc..
3.No urbanizable: It is one in which they cannot be built or planned in municipal planning for the possibility of building in the future. In these areas can be undertaken only rehabilitation of existing buildings, sometimes in addition to limitations in the case of ground specially protected natural interest, historical, archaeological, and so on.
b) In addition, these planning requirements not only provides the possibility of building but also the volumetric buildable, i.e. the surface building (two floors, three or four). It also details the types of housing: single family, townhouse, collective housing grouped etc. And it uses that can be given to such housing: residential, commercial, site host, etc.. Even set out specific rules on how to build. In view of this, we must act with caution when purchasing land or urban dwellings whose situation is unknown. The potential use edification or regulations will be marked by the urban municipality in which the property is situated . To know the classification of the land registry just go to the municipality and request the urban form of the land or housing that interests us. These records are public and freely available to any citizen. It is important to complete this process to avoid surprises and reliably meet the characteristics of purchase.