Mortgage credit, a method to buy a home.

Did you know that when hiring a mortgage you have the right to see the deed three days before or that you can choose the notary you want? Probably not. Our culture in terms of consumption and more specifically in what concerns the purchase of a home leaves much to be desired. Now, the Spanish notaries have edited the triptych You have the right to choose a notary in which information is given about the rights that assist us when buying a flat.

Notaries defend their role as independent “third party” that can advise the consumer The triptych of the General Council of Notaries, of which 300,000 copies have been distributed, is intended for citizens to know their right to freely choose the notary they wish, especially when they hire a financial service. The brochure also explains where to go in the case of conflict, it is clarified that all notaries charge the same for the same service and informs of the right to be able to see the writing of a mortgage loan three days before its signing.

For Spanish notaries, the free election of a notary is a consequence of another basic guarantee: the right to receive timely and objective legal information necessary to be able to decide with certainty before signing a contract or legal act, impartial information from which citizens must have in the initial phase of any process and negotiation.

The informative triptych clarifies who should choose the notary if there is more than one party: if they agree, they will go to the notary they decide; if they are not, the one that will pay the largest amount will choose, but if one of the contracting parties is a large operator and the other a consumer, the right to choose a notary always corresponds to the consumer. “In the case of applying for a mortgage loan, if it is a private individual who contracts with a real estate developer, a financial institution or an entrepreneur, whoever supports the expenses, it is the citizen who is responsible for choosing the notary. That right is inalienable, “explains the president of Spanish notaries, José Manuel García Collantes.

All the notaries charge the same for the same service. It is precisely the freedom of choice in hiring a financial service one of the sections in which the informative triptych stops most. It is explained that in these cases it is mandatory that an independent third party can advise the consumer and ensure preventive control to avoid litigation, and this figure is the notaries, who are responsible for ensuring that the pre-contractual information is transparent and legal, which is necessary for that the citizen is fully informed, gives a valid consent and the contract can be carried out with all the guarantees.

Notaries remind citizens to go to the notary in advance so that, calmly, they can provide the advice they need. In certain mortgage loans, there is the right to examine in the notary public draft publicity at least three business days before the grant. At that time, the notary will verify that the banking client has received the Personal Information Card (FIPER) adequately, whose purpose is to compare the loans available in the market and assess their implications, which entails adopting a well-founded decision.

And if they do not let me choose a notary?

And if they do not let me choose a notary?

The triptych informs that in case of violation of the right to choose notary there are several ways to enforce it. For example, you can go to the courts of justice, a public office of consumer protection or a consumer organization; but they recommend communicating to the elected notary the existence of a conflict with the other party so that it is he who brings it to the notice of the Notarial College of its Autonomous Community.

Thus, the College itself will contact the notary selected by the other party to refrain from acting. If the choice of the notary is not clear, but it is not the one chosen by the other party, you can go directly to the Notarial College and let it be known since the College has competence over the respective notaries of the Community to enforce the laws and regulations.