Maintenance fee on accounts linked to mortgages
This fee reimburses the bank for the debits arising from the mortgage loan.
What requirements must be met in order to charge the fee?
- The fees charged by banks are unrestricted, except in cases where they are limited by law. This fee will depend on the date you signed your mortgage.
- If you signed the mortgage before 29 April 2012, the date on which Ministerial Order EHA/2899/2011 came into force, the criterion would apply whereby, when the accounts are maintained by the bank and are only used to debit the mortgage loan instalment, no account maintenance fee would be payable.
- If you signed after 29 April 2012, the Order establishes that this fee can be charged even if the account is only used to pay the mortgage instalment, provided that:
- it is mentioned in the prior information documents, FIPRE, FIPER, FEIN and FiAE, and you have been previously informed about the requirement to open the linked account
- its cost is stated in the contract and this cost cannot be changed unilaterally by the bank over the term of the loan.