THE LAW RELATING TO REMORTGAGES

[AnonymousParticipant]

I Understand that in order to help mortgage holders a law was passed which either allowed to make reduce taxes or no taxes on transfer of a mortgage.

[AnonymousParticipant]

Is this a question or a statement?

[AnonymousParticipant]

I understand that you should never eat yellow coloured snow.

[AnonymousParticipant]

I think there’s a lot of yellow snow eaten in Spain by the amount of people taking the p*ss!

[AnonymousParticipant]

@goodstich44 wrote:

I think there’s a lot of yellow snow eaten in Spain by the amount of people taking the p*ss!

Probably due to bad advice from property agents/developers and given credence by the justice system.

[AnonymousParticipant]

All these statements are true, but I don’t see how they connect. What has yellow-coloured snow got to do with the new mortgage law? Am I being thick?

[katySpectator]

I must be thick too. I thought Shakeel wanted a bit of information 🙄

Shakeel, I think I read somewhere about a year ago that people could change their mortgage terms without cost. I don’t have links to it.

[AnonymousParticipant]

Sorry Mark, was trying to be ironic. Somehow that intention seems to have been somewhat off.

[AnonymousParticipant]

Sorry mark that was a question???.

[AnonymousParticipant]

Katy, you are right I need this link or the law in question.

[AnonymousParticipant]

Any comments on this please ?

[katySpectator]

http://www.parasaber.com/hogar/buscar-casa/comprar-casa/hipotecas/subrogacion/articulo/subrogacion-comprar-casa-precio-cambiar-hipoteca-alza-tipos/3859/

I googled this, not sure if it is up to date or if it is what you mean. I looked for subrogación which I think you are refering to?

[AnonymousParticipant]

This link has been forwarded to me by my Spanish friends.

http://www.boe.es/boe/dias/2007/12/08/pdfs/A50593-50614.pdf.

I am afraid my Spanish does not go this far. Any body can point to the relevent section. Specially if there is a section which exclude non residents.

[AnonymousParticipant]

Thanks Katy. This relates to subrogation i.e. moving from one lender to another. Yes and than there will be other cost.. So the old Spanish trick of having heads at both side of the contract.

Apparently, moving from one product to another with the same lender is construed as new or a remortgage even though the amount, person and the collateral is the same.

[Author]

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