Maintenance fees on accounts linked to mortgages

The maintenance fee on linked accounts pays for debits relating to the mortgage loan.

  • If you signed your mortgage before 29 April 2012, the date on which Ministerial Order EHA/2899/2011Abre en ventana nueva came into effect, the principle that applies is that accounts held solely to service the mortgage loan and opened at the requirement of the lender must be free of charge for the customer.
  • If you signed subsequent to 29 April 2012, the same legislation establishes that maintenance fees may be charged, even if the account is only used to service the mortgage, provided that:
    • the charges are mentioned in the preliminary information documents (the pre-contractual and personalised information sheets) and the customer was told in advance about the requirement to open a linked account
    • the cost of the account is stated in the contract and cannot be changed unilaterally by the lender during the lifetime of the loan.
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