The banking sector has lived a week moved after the decision of the Supreme Court that it is the consumers who assume the payment of the Tax of Documented Legal Acts (AJD). After the initial banking jubilation, came the reverse of the Government that decided by decree that from that moment the payment of this tax becomes the competence of legal entities.
In our online loan comparator we have not lost detail of the event and we wanted to “decomplicate” the issue with this article where we present the current mortgage situation and the possible changes in the sector.
One of lime and one of sand
Now the banks have to rebuild to see if they impact this tax to the client in any way. The Spanish Association of Fiscal Advisors (Aedaf) states that there is no doubt that the bank will transfer its unexpected cost overruns to its clients.
For the past 23 years, the individual has been responsible for paying the tax, but now the tables have changed. Thus, the banks say that since their payment now corresponds to them, “there will be no discounts for large families, for disability, for the age of the buyer, etc., and without being able, therefore, to deduct in the corporate tax” “” Can we extract from these words that we will end up losing with the change? Let’s go see it.
It is true that banks have not yet dared to pass on this tax to customers, the truth is that the novelty of their payment has still caught them again and they still do not know how to deal with it. However, they have warned that in the medium term it will end
noticing in the pocket of their customers.
One of the reasons for such caution and that its commercial offer remains unchanged is the enormous competition between the entities. Therefore, suspicion reigns and they all study the contrary to see what steps they take in this regard.
The National Commission of Markets and Competition (CNMC) will not lose detail
The new scenario forces entities such as the CNMC to be more attentive than ever. It is worth recalling the recent statements of the president of this organization, José María Marín Quemada, who said that “it will not allow the banking sector to adopt coordinated behaviors or carry out collective recommendations to pass on the cost of the Tax on Documented Legal Acts (IAJD) on the clients “.
The amount of mortgage may vary depending on the Autonomous Community
Since it is the Autonomous Communities that have assumed the collection of that tax, we are faced with the fact that the type to be applied in the Tax of Documented Legal Acts varies depending on the autonomous community.
Specifically, we can run into a lien that can range from 0.5% to 1.5% on the amount of the mortgage loan since it depends on the region. Therefore, this circumstance may motivate banks to offer more or less expensive mortgages based on autonomy.
Thus, it is likely that in the not too distant future consumers will face a difference in mortgage treatment given that it is not the same to request a mortgage in a community such as Navarre, with 0.5%, than in the Valencian Community, with 1.5 %.
Therefore, banks recognize that they are studying either “they have to warn different mortgages depending on the autonomous community.”
Some voices of the sector predict that we are facing the threshold of increasingly personalized mortgages: “What will happen is that beyond the advertising of prices, which is a commercial hook, then in the office the offers will be increasingly personalized. “
The big beneficiaries, the Autonomous Communities.
The current doubt of the banks is if the different regions, since this tax is no longer the responsibility of the individual, will choose to increase this tax and collect more money. Before it would have been a very unpopular measure to opt for its cost, but the situation has changed.
In fact, experts consider that the regional estates are the great beneficiaries of this change. Not surprisingly, previously applied to a series of deductions for large families and disabilities, among others, which now have no reason to be because the bank is the only subject obligated to pay. In sum, they raise more by not existing anymore.
The truth is that the autonomies – although they have kept their mouths closed – will have breathed relieved at the decision of the TS that recognized that the users were obligated to pay and not the banks. In fact, the director of the Tax Agency, Jesús Gascón, has already suggested to clients that the requests for the return of the Tax of Documented Legal Acts (AJD) of the mortgages would have to be addressed to the autonomous communities, and not to the banks, They are responsible for collecting the money from your payment.
In any case, it seems that we are already facing the final chapter of a long tug of war between consumers and banks that have kept us in suspense for months, especially the latter.