The new Housing Credit Law, better known as the Mortgage Law, came into effect in Spain this week. The new legislation has been delayed more than three years and stirred various controversies. Spain is thus the last European country to transpose Brussels’ directive.
spain mortgage law
“Never again Spaniards will have to pay the mortgage stamp duty”. With these words the Spanish president Pedro Sánchez announced a decree law and gave a new twist to the story of who should be responsible for this tax, just a few hours after the Supreme Court decided that it will be the customer’s duty. The way in which the highest court has managed the decision making process puts into question its credibility.