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The Supreme Court Upholds a Ruling that Appraisal Costs Must be Borne 100% by the Banks

The Supreme Court has decided in a plenary session that appraisal costs must be borne in their entirety by the banks and not by consumers.

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The High Court has established a new doctrine, which states that consumers have the right to the restitution of all expenses paid for property registration, management and appraisal, as well as to half of the notarial expenses, in a ruling reported by Europe Press.

As such, with this ruling, all of the consequences of the nullity of the clauses that oblige consumers to pay for mortgage formalisation expenses have been resolved by the Civil Chamber. Only the Tax on Documented Legal Acts (IAJD) will now have to be borne by the buyer.

Read the full article in Spanish.

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