Terms & Conditions

MANAGEMENT MEDITERRANEAN DE CRÉDITO FINANCIERO S.L. acts as financial intermediary linked to several concessionary entities of mortgage loans. This intermediary does not offer advisory services. Address: Calle Muntaner, 239, 2C, Barcelona, 08021. Registered at the Bank of Spain, category Mortgage Credit Broker, under the code D069.  Registered at the Spanish National Consumer Agency under the number 368/2012. Access to registered files: https://www.mscbs.gob.es/consumo/empresas/registroIntermediario.htm

For loan amounts from € 10,000 to € 300,000. Return period from 6 months to 20 years.

TIN min./max. 8% / 14% TAE min./max 10.74% / 18.06%. The rate of interest finally applicable is determined by Suitaprest once your application has been analyzed and approved.

Representative example calculation for mortgage-backed loan. Amount: € 100,000. Term: 20 years. Fixed TIN 12%/TAE 15,71%. 240 installments of € 1,101.09. Total amount payable (principal + interest): € 264,261.6. Uninsured. Expenses included: Opening commission (€ 2,700) and Management (€ 11,300). This loan must be guaranteed with the mortgage of a property.

This loan must be guaranteed with the mortgage of a property.

Maximum amount of the loan available in relation to the value of the property to be mortgaged: The maximum amount will be 50% of the valuation of the house, depending on the circumstances of the company and the property to be mortgaged.Example: If the valuation of the home is € 80,000, the maximum loan amount will be € 40,000.

Types of loan:

  • Payment of interest and amortization of capital at maturity.
  • Payment of interest periodically and amortization of the capital at maturity.
  • Payment of periodic installments of capital and interest and amortization of the part of the capital remaining at maturity.
  • Payment of periodic installments of capital and interest.

Repayment period: Maximum amortization period of 20 years.

Periodicity of payments: Monthly, or due date of the loan.

TYPE OF INTEREST

The maximum interest rate on our loans is fourteen percent per year (14%). This interest rate is fixed until the total refund of the borrowed amount.

TIN min./max. 8% /14%

LINKS AND PREPARATORY EXPENSES

The cost of the appraisal of the property to be mortgaged is borne by the client.

The client has the right to freely choose the appraiser, the notary, and the lawyer.

ANNUAL PERCENTAGE RATE AND TOTAL COST OF THE LOAN

The TAE is the total cost of the loan expressed as an annual percentage. The TAE is to help you compare the different offers.

TAE min./max 10.74% /19,9%

For information purposes, it is noted that the APR is calculated in accordance with Article 31 and Annex V of the Order of the Ministry of Economy and Finance, EHA / 2899/2011, of October 28, transparency and protection of the customer of banking services , published in the “BOE” no. 261, of October 29, 2011, pages 113282 and following.

The total cost of the loan for a supposed amount of € 100,000 for a term of twenty years and an interest of 12% fixed annual is € 178,261.60. This is broken down into the following items:

Interest: € 164,261.06

Management: € 11,300 (11.3%)

Opening comission: € 2,700 (2.7%)

ADVANCE AMORTIZATION

Compensation for withdrawal:

Loans signed according to the Law 2/2009 of May 31, regulating mortgage loans and credits: 0.5% or 0.25% on the amortized amount in advance, depending on whether the loan is formalized before or after the first five years.

Loans signed according to the Law 5/2019 of March 19, regulating mortgage loan contracts: no comission applies.

EXECUTION BY IMPACT

For the execution of the loan in case of default, the creditor may opt for the ordinary executive action regulated in articles 517 and 571 of the Law of Civil Procedure, for direct action against the mortgaged property of Art. 129.1.a) of the Mortgage Law or for the extrajudicial sale by means of a Notary regulated in art. 129.1.b) of the Mortgage Law.

COMPLAINTS

You can file a claim directly by your means or through an accredited representation. This communication may be delivered by telephone (93.220.49.78), by post (Calle Muntaner 239, 2º C, 08021, Barcelona) and by telematic means (either by sending an email to the following address: info@suitaprest.com or by filling out a contact form on the following web page: https://suitaprest.com/en/contact/)

You must state:

– Identification of the claimant or, if the case, of the person who represents him, by means of personal ID.

– Contract loan number.

– Copy of all documents that support your position.

– List of the causes that motivate your claim you might provide.

If the claim is not resolved internally to your satisfaction within a maximum period of one month, you can go to: Claims Service of the Bank of Spain, which will handle complaints and claims presented by potential borrowers, borrowers or guarantors, that are related to their legally recognized interests and rights, and that derive from alleged breaches by the claimed entities, from the rules of transparency and protection of the clientele or from good practices and financial uses.

Banco de España
Departamento de Conducta de Mercado y Reclamaciones
c/ Alcalá 48
28014 Madrid
Phones: 900 54 54 54 & 91 338 8830
https://app.bde.es/psr_www/faces/psr_wwwias/jsp/op/InicioSesion/PantallaAsistenteForm.jsp

VARIOUS

You can consult the Mortgage Loan Access Guide, from the Bank of Spain, at the following electronic address: http://www.bde.es/f/webbde/Secciones/Publicaciones/Folletos/Fic/Guia_hipotecaria_2013.pdf

You have the right to individually negotiate the clauses of the contract.

You can lose the property if you do not make the payment to which you are obligated on time.

The debtor responds to the lender of the loan payment not only with the mortgaged property, but with all its present and future assets.

APPLICABLE LAW AND JURISDICTION

For the resolution of all disputes or issues related to this website or the activities developed therein, Spanish legislation will apply, to which the parties expressly submit to the courts and tribunals of the user’s domicile. Likewise, as an entity attached to Confianza Online and in the terms of its Code of Ethics, in case of disputes related to hiring and online advertising, data protection and protection of minors, the user may go to the system of extrajudicial resolution of Confidence disputes Online (www.confianzaonline.es)

Conditions and management fees.