Extension of the Deadline to Claim Mortgage Loan Formalization Expenses
The Consumer Organization (OCU) has announced an extension of the deadline to claim the costs of formalizing mortgage loans, offering an additional opportunity to those affected by this banking practice. This decision is based on the resolution of a lawsuit by the OCU in 2015, which considered it abusive for banks to make clients pay all the expenses associated with the formalization of mortgages.
New Term and Claimable Concepts
The deadline to claim has been extended until mid-April 2024, giving those who faced these expenses the opportunity to seek refunds. However, this opportunity only applies to those affected with mortgages taken out before June 16, 2019, the date of entry into force of the new real estate credit law.
The concepts of mortgage expenses that can be claimed include all payments for property registration, management and appraisal, in addition to half of the notary expenses, according to the information provided by the OCU.
Expanded Window for Restitution of Undue Costs
This extension of the deadline gives consumers a longer window to seek restitution for undue costs associated with the formalization of their mortgage loans, offering the possibility of seeking repayment of payments until mid-April 2024.
