New mortgage laws protect consumers
by Ibiza-Legal
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Since the summer of 2019, the process of real estate financing in Spain has changed in favour of consumers. On the basis of a European directive, a new mortgage law has been implemented in Spain which aims to protect consumers.
The law is only applicable to natural persons (individual borrowers or guarantors) and it does not apply to ‘legal persons’ (companies).

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Changes related to real estate auctions
by Ibiza-Legal
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In 2015, legislation regarding the forced sale of jointly-owned properties changed and the electronic judicial auction was brought in. This procedure is carried out online through the Auction Portal of the BOE State Agency and intends to allow a wider audience to participate in auctions, without the need to be physically present.

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