British Expats - La Caixa Bank

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British Expats (https://britishexpats.com/forum/)

- Spain (https://britishexpats.com/forum/spain-75/)

- - La Caixa Bank (https://britishexpats.com/forum/spain-75/la-caixa-bank-770264/)

megmet

Nov 28th 2012 2:40 am

Re: La Caixa Bank

Quote:

Originally Posted by snikpoh (Post 10405682)

This is quite normal - it's so that they can easily place a charge against your property.

If you don't want this option, then you need to pay (quite a lot) to have the mortgage cancelled and the escitura (deeds) updated at the notary.

That is the same way it did/does work in the UK, many years ago when we paid off our mortgage there we had to pay the bank (quite a bit) to release the deeds.

EsuriJohn

Nov 28th 2012 3:03 am

Re: La Caixa Bank

Quote:

Originally Posted by megmet (Post 10405888)

That is the same way it did/does work in the UK, many years ago when we paid off our mortgage there we had to pay the bank (quite a bit) to release the deeds.

It used to be advised that you left a small amount outstanding on your mortgage (say Â£20) so that should you wish to you could borrow against the property for say an extension, but more importantly you could store your deeds securely with the Building Society for free.

Gazzas

Nov 28th 2012 3:11 am

Re: La Caixa Bank

I've got the deeds already, may have to go to the bank and ask a few more questions, thank you for your input. :)

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