FACUA asks the Competition Authority to monitor for possible increases in mortgage prices

FACUA-Consumers in Action has made a submission to the National Markets and Competition Commission (CNMC, according to its initials in Spanish) in which it requests that it monitor for possible increases in the price of mortgages, after the Government approved a change in legislation last Thursday which will make the banks responsible for paying the tax on document duties (applied to mortgages).

The association predicts that it is very likely that to compensate for the cut in their profits due to having to pay document duties taxes the banks will make their mortgages or other services more expensive. In this regard, it must be noted that although the sector has quite a margin of freedom to increase these prices, that different banks cannot come to agreements to apply increases in