General Terms and Conditions
1. Our services
www.spaansehypotheek.nl focuses on providing advice, mediation, and information regarding mortgage services in Spain. Although the advisors share their knowledge regarding the entire purchasing process, they are not obligated to do so. Our services are limited to arranging the mortgage with a Spanish bank or a lender providing financing for a purchase in Spain. We are not responsible for other matters such as legally reviewing documents, applying for the NIE number, or negotiating the purchase price. We are willing to share (Dutch-speaking) contacts from our network with our client to ensure the client is provided with all services.
2. The product
Mortgage advice is provided to the client. Spaanse Hypotheek has various banks and lenders in its network, allowing it to weigh the options for the client. Based on the client profile, it will submit the mortgage application to the most suitable lender.
3. Our calculations
The mortgage calculations issued by www.spaansehypotheek.nl are based on the information provided by the client so far in our application form. These estimates are indicative at all times and subject to complete documentation and valuation. Bank acceptance cannot be guaranteed based on this indication. Spaanse Hypotheek is therefore not liable for damages of any kind resulting from the client's misinterpretation of the offer. All information will be treated confidentially and personally.
4. Mortgage Calculation & Pre-scans
The client can gain more certainty by receiving an assessment based on several personal financial documents. Spaanse Hypotheek will review the file internally. The outcome of a mortgage calculation or a pre-scan (for Directors-Major Shareholders) does not constitute an official offer from a Spanish bank or other lender, but rather an indicative offer from Spaanse Hypotheek. No rights can be granted based on this regarding access to financing, and the client is aware that the issued offer is subject to additional financial documents, an assessment by the Spanish bank, and the condition and value of the Spanish collateral. Upon a positive mortgage calculation or pre-scan, you can start the file.
5. Become a customer
The client signs these general terms and conditions for the provision of services to handle the mortgage application in Spain. Spaanse Hypotheek is responsible for the professional and adequate handling of this application. The formal process for applying for the mortgage (collecting documents) is initiated. From this moment on, Spaanse Hypotheek is at the client's disposal at all times until the mortgage is finalized. The client is kept informed of the file and will receive a response within a maximum of 48 hours on working days.
The client can use the services of Spaanse Hypotheek until a suitable property is found. If the purchase of a property does not go through, the client can use the services at a later date, without paying the initial fee again, once a suitable new property has been found.
6. Payment terms
Upon signing the general terms and conditions, the client first pays our start rate, and the remainder is paid only upon bank approval.
7. Submission of documents
The Client shall provide all documents and information for the mortgage application in a timely manner. The Client acknowledges that service delivery may be delayed if the information provided by the Client is incomplete or inaccurate. It is important that the correct information is shared with us from the start!
The non-binding indication (see point 3) is based on the information provided by the client at that time. Spanish Hypotheek and the client enter into the agreement based on this data. If the submitted documents show figures that differ from those previously known in the application form, and as a result, the Spanish bank does not approve the mortgage, Spanish Hypotheek is not liable. After all, Spanish Hypotheek concluded the agreement based on the data known up to that point. See point 11 for more information regarding the refund conditions.
8. Mortgage offer
The client is assisted as effectively as possible in negotiating the best achievable offer with a Spanish bank. Spaanse Hypotheek is responsible for communicating the mortgage offer to the client and removes the communication barrier (Spanish-Dutch language barrier). A mortgage offer is valid for one month in Spain. Finding collateral after at least one month results in the need to submit recent documents for the Spanish bank to reassess the mortgage file. The client is aware that the interest rates and other terms of the offer are subject to changes in the Spanish mortgage market.
9. Products alongside a mortgage
In Spain, when taking out a mortgage, it is often mandatory to take out products or insurance with a Spanish bank. We always try to negotiate this with our banks for the specific client.
10. Suspend services
The client may choose to withdraw from the mortgage application procedure at any time. The client must notify Spaanse Hypotheek of this by email. If the client is aware of the name of the Spanish bank, the client is not entitled to approach the same lender personally or through other intermediaries. It is not possible in Spain to submit two mortgage applications to one bank. In the event of voluntarily terminating the service, no refund will be given; see point 11. Spaanse Hypotheek reserves the right to unilaterally suspend the service if the cooperation with the client is not of a satisfactory nature.
11. Payment
The advisory fees stated in the quotation must be paid by the client within 7 working days, unless expressly agreed otherwise in writing. In the event of late payment of the advisory fees, Spaanse Hypotheek is entitled to suspend the mortgage application.
If the client withdraws from the process at Spaanse Hypotheek but nevertheless purchases the property through the bank to which the client was introduced by Spaanse Hypotheek, the client is always subject to paying the second fee.
12. Mortgage with a Spanish bank or other lender
Following approval of a mortgage application, the client is put in contact with a bank employee. However, Spaanse Hypotheek remains at the client's disposal until the mortgage is finalized. Spaanse Hypotheek can provide a realistic estimate of the timeframe. However, there is no liability in the event of delays or shortcomings on the part of the Spanish bank or other lender. In this regard, Spaanse Hypotheek is dependent on (Spanish) third parties.
13. Next steps
The client may be required to open a bank account with the mortgage-providing bank. Spaanse Hypotheek will take care of opening this bank account. Thanks to this mediation, the client is not required to come to Spain to open the bank account.
14. Spanish Mortgage Costs
The amount of additional costs depends on the amount to be financed and may vary by region and bank. Spaanse Hypotheek provides a realistic indication of the costs; however, they are never liable for discrepancies between this indication and the final offer from the bank. The Spanish bank is obliged to disclose the costs prior to the signing of the mortgage deed.
15. NIE Number
For the mortgage application (initial phase), providing the Spanish Social Security Number is not necessary. However, this number must be submitted to the Spanish bank at least 2 weeks before the closing to avoid delays in the closing date.
16. Other general terms and conditions
The liability of Spaanse Hypotheek is in all cases limited to the amount equal to the intermediary costs stated on the issued quotation (see point 4). Furthermore, Spaanse Hypotheek is not liable for indirect damages such as consequential damages or lost profits.
These general terms and conditions are governed by Spanish law. All disputes arising therefrom shall be submitted to the competent court in the district of Valencia.
Version & registration
These general terms and conditions concern version 3.2
Drafted in Valencia on 11 December 2023
Registered office: Spaanse Hypotheek Av. de les Corts Valencianes 58, 46015 València, Spain
Email: info@spaansehypotheek.nlWeb: www.spaansehypotheek.nl
