Is it mandatory to record the mortgage with the Bank's Gestoría?

When you have just paid a mortgage, you have to make an additional management to leave housing free of loads: cancellation or registry lifting. And in most ca

Is it mandatory to record the mortgage with the Bank's Gestoría?

When you have just paid a mortgage, you have to make an additional management to leave housing free of loads: cancellation or registry lifting. And in most cases, the bank itself is offered to carry out this procedure through its manager, which represents the most comfortable option for the former loan holder. From the financial comparator HelpmyCash.com, however, they remember that hiring the Bank's Gestoría is not mandatory and that, in addition, it goes out more expensive than leaving it in the hands of an independent agency to do it free.

According to the data that handles this comparator, the fees of the managing that work for banks cost an average of between 300 and 400 euros. In addition, to pay that money and the rest of the expenses associated with the registry cancellation (the tariffs of the notary and the registrar), they usually ask for a very generous fund provision, which reaches an average of between 1,000 and 2,000 euros ( If you have money after payment of these coasts, it is returned to the old mortgage).

Instead, if an independent manager is contracted, the invoice of its fees may be sensitively lower. For example, the collaborating agency of HelpmyCash charges about 100 euros for carrying out the recordal cancellation of a mortgage. It also adjusts the budget of the notarial and registry tariffs so that the provision of funds does not rise.

Thus, if an independent manager is contracted, the savings can be between 200 and 300 euros on average. To calculate it, in HelpmyCash they have a free registry cancellation fees simulator, which allows you to see how much you should pay if the process will be left in the hands of the bank and how much it would cost if your agency was responsible.

There is also a way to save the expenses of managing and pay only those of notary and registration: do the procedures for free. In these cases, yes, it is necessary to go to the notary, to Treasury (to present the 600 model of the tax on documented legal acts, exempt payment) and the property registration, so it is only an advisable option if it is available Time to complete the process.

However, there is a situation in which it is more complicated to cancel the mortgage by free or with an independent agency: if you want to sell a home on which a mortgage loan still weighs. In these cases, that credit is liquidated with the money of the sale and, subsequently, the registry lifting is processed to leave the property free of charge, something that must be done so that the buyer's mortgage can be enrolled.

Logically, the buyer's bank wants to make sure that the procedure is done to enroll your mortgage loan without problems, so it usually demands that the seller hire its manager to carry out the registry cancellation. If this is denied, the entity will not want to move forward with the operation, so the sale can not be completed.

However, the fees of your manager can be dodged if Senegocia so that it allows you to hire another agency or do the process free. In these situations, the ideal is to enter the provision of funds required and establish a minimum period of three months to perform the registry cancellation for free or with the help of an independent managing. In this way, if the process is completed on time, the buyer's bank will return the money from the provision and the seller may have been saved a good amount in management expenses.

Updated Date: 27 August 2021, 06:55

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