Deeds relating to real estate
A public deed records property transactions such as sales, mortgages and acknowledgements of payment, allowing them to be entered in the Land Registry.
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Arranging a mortgage requires signing an Acta Previa de Transparencia (preliminary transparency record) followed by the mortgage loan deed. We explain the process and the documents you will need.
What is a mortgage?
A mortgage is a security interest over a property that secures the performance of an obligation, usually the repayment of a loan. The mortgage loan deed is a public document that formalises this security and allows it to be entered in the Land Registry.
Procedure
Preliminary Transparency Record (Acta Previa de Transparencia)
Mandatory since Ley 5/2019. It must be signed at least 10 days before the mortgage loan deed. The notary explains all the loan clauses to the borrower.
Signing of the Mortgage Loan Deed
Once the preliminary record has been signed, the mortgage loan deed is signed on the date agreed with the bank.
Registration in the Land Registry
The deed is submitted electronically to the Land Registry for registration, which ensures that the mortgage is effective against third parties.
Documents required
From the borrower
- Valid DNI/NIE
- Bank documents (FEIN, FiAE)
- Proof of income
For the property
- Up-to-date nota simple (Land Registry extract)
- Valuation certificate
- Energy Performance Certificate
Preliminary Transparency Record (Acta Previa de Transparencia)
Mandatory since Ley 5/2019, the preliminary transparency record is free of charge for the borrower and is intended to ensure that they understand all the terms of the loan before signing it.
- It must be signed at least 10 days before the mortgage deed
- The notary explains all the loan clauses
- The FEIN and FiAE are handed over for review
- The borrower answers a comprehension test
Associated costs
Paid by the bank:
- Notary fees
- Registry fees
- Gestoría (administrative agency)
- AJD tax (Actos Jurídicos Documentados, stamp duty on notarised legal acts)
Paid by the client:
- Property valuation
- Copy of the deed (if requested)
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