El País

The President of the Government announces that “never again” Spaniards will have to pay the tribute of legal acts documented
The Government will approve this Thursday a decree law with which will modify the norm that regulates the tax of legal acts documented, the one of the mortgages, so that “never more” they have to pay it the consumers, but that the banks pay it. It is the Government’s response to the ruling of the Supreme Court of this Tuesday, which, amending a ruling in mid-October, has ruled that it is the clients, and not the banks, who pay the tax when making a mortgage loan. In addition, Sanchez has also announced that he will take to Congress the creation of an “independent authority for the protection of financial clients”, a body to protect citizens from financial system abuses and conflicts.


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In English: Spanish PM announces legal changes to make banks pay mortgage tax
Never before had there been such a strong and rapid clash between the high court and the Government. In the press conference to explain the measure, Sanchez has loaded with harshness against the court, controlled by the conservatives and chaired by Carlos Lesmes, a man boosted there by the PP which now has less than a month of mandate, at least in theory. “The Government is working to meet the deadlines” for the renewal of the Judiciary, said Sánchez, pointing to the end of Lesmes’ career. “I think that the Supreme Court has to reflect on the debate that has arisen about its credibility, they have to reflect on these two weeks, I respect the independence of the judiciary, but no power is outside the critical, I think the power judicial should make self-criticism of what has happened. ” A few weeks after the beginning of the prosecution trial, the most important for the Supreme Court in recent years, Sánchez has wanted to de-link the two processes, but has admitted that the court has been touched.

The president believes that he will have parliamentary support without problems to validate this decree that is approved tomorrow. The PP, however, now proposes to eliminate this tax directly, by which the autonomous communities enter more than 8,000 million euros annually. Sanchez has charged against the leader of the PP, Pablo Casado, for suggesting this elimination. “I talked to the presidents of the Autonomous Communities of the PP, because they asked me for more resources for health, education, infrastructures, and if they eliminated this tax, they would have fewer resources, and we want it to be maintained and paid by the banks,” he said. President.

After the controversy aroused this Tuesday after the decision of the Supreme Court to leave the payment of the tax of documented legal acts in the hands of the client, Sánchez has appeared in an extraordinary way at La Moncloa to explain the legal reform chosen by the Government to be the banks those who pay the tax as of the entry into force of the new legislation. And he has put a lot of emphasis on this idea: “Never let the citizens pay this tax, but let the banks be”. Finally, it will be through a decree law by which article 29 of the Law of Transfer of Property and Documented Legal Acts will be modified, which regulates the tax that is paid upon the constitution of a mortgage. The decree will be approved tomorrow in the Council of Ministers and will be in force on Friday, when it is published in the BOE.

Currently, article 29 states that “the taxpayer [of the tax and therefore whoever pays it] will be the taxpayer of the property or right and, failing that, the persons who initiate or request the notarial documents, or those in whose interest are issued. ” It is this last phrase that caused problems of interpretation and by which a regulation was introduced that specified that the client had to pay for it. With the reform, “it will be clear that the tax of documented legal acts will always correspond to the banks and never to the ordinary citizens”.

Pedro Sánchez

✔ @ sanchezcastejon

The purchase of a home is a great investment and life plan that must have legal security. The Government will approve tomorrow in the #CMin that the tax of the # mortgages will be paid by the banks. We will reinforce the protection against potential financial abuses and conflicts.

14:07 – Nov 7 2018


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The President of the Government has been quite tough with the performance of the Supreme Court, which on Tuesday corrected a jurisprudence that had been established just three weeks ago, with a sentence of 16 October that in turn amended 20 years of criteria on the tax on mortgages. Sanchez said that, although “always respects” the independence of the judiciary, “the Executive can not stop regretting the situation generated by the ruling of day 16 and culminated Tuesday with the doctrine rectified.” The situation is not positive neither for the banks nor for the judges nor, above all, for the citizens “. He has come to affirm that the “Supreme has to reflect on its credibility”. What happens if the banks make the mortgages more expensive in exchange for having to assume the tax? “I think they will not do it and I hope not,” said Sanchez. “I believe it because the mortgage market is quite competitive, because we are within the European Union.” He added: “I appeal to the responsibility of the financial sector.” As a gesture to consumers, “to elevate the protection of the rights of financial clients,” Sánchez has also announced that he will send to the Cortes the “creation of an independent protection of financial clients “, whose objective will be” to guarantee the legal security of all “, to reinforce the protection against the abuses of the financial system and to improve the capacity to resolve conflicts in the financial sector.” The parties, willingIn the reform of the law the Government will tell when it is sent to Parliament, with the support of a large number of parliamentary groups, and this morning, Adriana Lastra, spokesperson for the PSOE, already announced “good ” at Sánchez’s appearance on possible legal reforms. Later, the president of Citizens, Albert Rivera, and before knowing the intentions of the Government, has given carte blanche to support a legal reform l that causes banks to pay the tax. The “fastest” formula, provided it is well done so as not to be knocked down, has asked the leader, Albert Rivera, in press appearance in Congress, reports Elsa García de Blas. Rivera has called on the political groups “unanimous and urgent” consensus on this express reform. “If it can be, let’s do it next week,” he stressed. Citizens are very critical of the Supreme Court, which considers that it has “self-harmed” with this decision and must make self-criticism. But the leader of the liberal party does not ask for the resignation of the president of the Supreme Court, although it does “cut the umbilical cord” between the policy and the judiciary, with a change in the process of election of the members of the General Council of the Judicial Power. The PSOE has also expressed criticism of the performance of the Supreme Court. “The workers of this country were in solidarity with the financial system, which was injected 77,000 million euros because of the great crisis that it suffered a decade ago, resources that we will not see again.” What is inexplicable is what has happened now. With the tax [on documented legal acts], “has incidido.El secretary general of Podemos, Pablo Iglesias, has said however that is not satisfied with the decision of the Government to amend the mortgage law decree to charge the tax to the bank . “It’s fine, but it’s not enough,” Iglesias pointed out in a tweet “We have to legislate to do what the second section of the Third Chamber of the Supreme Court said: return the money to the families, so we will propose it at the Congress.” Alberto Garzón, leader of the United Left and deputy for the United Podemos coalition, used to argue that “the bank has ‘saved’ several billion euros thanks to the regrettable action of the Supreme Court.” Therefore, he added “the gesture of the PSOE is that, a simple gesture that will not affect the banks.” We can keep your call to participate in the protest acts convened against the judicial decision. THE MORTGAGE LAW, PENDING THE REFORM On the other hand, the law of mortgage credit is finalized in Congress. This was scheduled to close weeks ago after two years of delays. But the Supreme Court’s mess caused it to be postponed for a few more weeks, awaiting the final decision of the High Court. The idea was to take advantage of this opinion to collect it in the legislation, appropriately reflecting the entire distribution of costs. In that cast, there were very different positions. For example, Podemos demanded that the bank support all. In these moments the Ministry of Economy has taken the reins of these conversations and negotiates with PP and PNV to try to unblock it. Minister Nadia Calviño seeks to avoid a Brussels fine for not having transposed the European directive. Among the aspects to be closed is the interest rate for delay, which Minister Luis de Guindos had left around 9% and which now seeks to reduce . It also discusses what non-payment will be enough to start the foreclosure. Guindos left it so that in the first half of the life of the loan was enough with nine defaults or a delinquent amount of 2% of credit In the second half the defaults rose to twelve or 4% of the mortgage granted.


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