How long does it take to sign a mortgage at the Notary?

One of the main legal bodies aimed at protecting individuals who are going to apply for a mortgage loan is the Law 5/2019. It applies when it is a natural or legal person who, professionally, lends money to another. In this regard, there are a number of aspects that must be present when signing a contract for it to have legal validity.

It is essential to be able to identify the lender's identity. In addition, the total amount must be specified, as well as whether the type of loan is fixed or variable. On the other hand, what is the APR or interest rate along with the duration of said contract and the monthly amount to be paid.

Finally, reference must be made to the amortisation table. In this regard, it must be clear if there is a penalty for early repayment and what the rules of the game are. Additionally, it will be included if the contract holder leaves as guarantee another real estate property in case of being unable to repay the loan.

We recommend reading this article to be prepared before signing a mortgage:

It is essential to be clear about the deadlines for signing the mortgage at the Notary, as well as the procedures. The latest amendment to the Mortgage Law in 2019 has brought changes. On the one hand, the mortgage deed cannot be signed before a Notary until 14 days after the mortgage documentation has been incorporated into the computer system required by law.

The bank must upload all the documentation for the mortgage, and the client requesting the loan is always the one who chooses the notary. However, all notarial expenses for the mortgage will be paid by the bank of the person requesting the mortgage. Therefore, an individual taking out a mortgage chooses the notary who protects them from banking abuses, and the bank will pay the notarial fees for the mortgage.

During this time, you should go to a specialised notary office, such as JLA Notarios, notary office in Barcelona to receive personalised advice and sign a prior notarial certificate. This must be signed at least the day before signing the mortgage deed. Therefore, it will be mandatory to visit your Notary at least twice before completing the procedure, once to sign the prior mortgage certificate and once to sign the mortgage.

Additionally, the steps to follow are very simple. Once you have made your mortgage application to the financial institution, the bank will assess your financial solvency. If no major risks are found, they will make you an offer which you should study. The European Standardised Information Sheet will be issued, which you must sign before going to the notary.

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When it comes to signing a mortgage contract in Catalonia, it is essential to know how long it takes to sign a mortgage at the Notary. Once the final appraisal procedure is completed, the average time at the notary will be 15 to 20 days before the deed can be signed.

During this entire time, we recommend that you stay in contact with your assigned agent at the financial institution. Obviously, we will also advise you on anything you may need.

In conclusion, now that you know how long it takes to sign a mortgage at the Notary, we are confident that you will be able to carry out this entire process. If you are interested in knowing the costs involved in signing a mortgage, we recommend the following reading: