The main entities commented yesterday that they maintain the situation as it was before the first sentence of the Supreme Court. That is to say: the tax on mortgages the client assumes it. This is the policy being applied by Santander, CaixaBank, BBVA, Sabadell, Bankia, Kutxabank, Unicaja, Ibercaja, Liberbank and Abanca, according to official sources of each of these entities.
All of these entities say they will pay the fee when the high court establishes it, but until now everything will remain the same. Even specify that "until the mortgage regulation is not published in the BOE" will not be mandatory, remember in CaixaBank and Abanca. Bankinter was the only entity that did not want to comment on its commercial policy.
The coincidence is also great in pointing out that prices will rise if they have to assume the tax. According to his calculations, the differential on the Euribor will be 0.30 points higher than the one currently charged or will raise some loan commission to offset the cost of the rate. It is the circumstance that this sentence has caught many entities with significant discounts on their mortgage prices to gain market share, which raises the pressure on margins.
If the plenum of the Supreme Court decides that the tax will be paid by the bank from October 16, the date of the first sentence of the Supreme Court, those who are signing mortgages until November 5, could obtain them cheaper, since they could later go up. Some entities, such as Unicaja, state that they have added a clause specifying that the bank will be liable for the tax if the Supreme Court decides. However, no bank says it has clauses now on mortgages to raise prices, until November 5, if in the end it is up to them to pay the rate. This circumstance could make these two weeks cheaper mortgages. However, there is a risk that the Supreme Court will decide that the banks will assume the tax from November 5.
On the other hand, the websites of BBVA, Santander and Bankia have ceased to be out of service, as happened last week after the ruling of the Supreme Court. Now they offer prices for loans for both fixed and variable rates. However, the BBVA website allows simulations but new mortgages are not allowed, according to the entity's sources.