Other options for applying for a mortgage
Banks, savings banks and rural credit cooperatives are institutions that are registered with the Banco de España which people commonly approach to apply for a mortgage loan. Currently, there are also other registered real estate credit intermediaries and real estate lenders, which are natural or legal persons that intermediate or lend money through mortgage loans or credit facilities.
- These institutions are required to register with the Banco de España if they carry out their activity in more than one autonomous community. If they only operate in one autonomous community, they are only required to register in that specific region. Therefore, if you are going to engage their services the first thing you should do is check that they are properly registered.
- Then you should check that they comply with the transparency regulations governing mortgage loans or credit facilities, which you can consult in our section on mortgages, paying special attention to important aspects such as the transaction costs.
Remember that if you operate with institutions that are registered with the Banco de España, you can file a complaint against the real estate credit intermediary or lender if a discrepancy arises with them. These institutions must provide you with the name of a department or person to process any such complaint and must resolve it within one month from the date it was submitted. If you receive no reply within that period or if you do not agree with the decision – which is always binding for the respondent but not for you as the complainant – you may submit the complaint to the Banco de España.