Home loans: what are the costs and expenses in case of portability, substitution and early repayment?

Captain cases in which banks ask for wide variety of reasons, for payment of charges not due to those who decide to transfer or pay off their mortgage early.

The Law n. 40 of 2007 Urgent measures for the protection of consumers, the promotion of competition, the development of economic activities and the creation of new businesses (conversion of the famous Bersani Decree Law no. 7/2007), has virtually canceled those expenses. But this rule is not observed in some cases.


The subrogation or subrogation is an operation by which you move your mortgage with a different bank for better access. Basically you turn on a new mortgage, using the original mortgage of the old mortgage.

The subrogation by the will of the debtor is governed by 'art. 1202 of the Civil Code:

"The debtor, who takes a loan a sum of money or other fungible thing in order to pay the debt, the lender may subrogate the rights of the creditor, without the consent of that."

The same article 1202 requires the following requirements for this type of subrogation:

1. that the mortgage and receipts resulting from the act having certain date;

2. that the act of mortgage is expressly indicated the destination of the sum borrowed;

3. that the acquittal mentions the debtor's declaration about the origin of the amount of funds in payment.

For bank loans, subrogation realizes the so-called mortgage portability, which allows the debtor to replace the bank that provided the loan initially with a new bank, which perhaps offers the best conditions, keeping alive the mortgage originally incorporated.

If you decide to transfer the mortgage to another intermediary is no longer required the cancellation of the old warranty, and the activation of a new one: less formality and less legal costs.

It's the bank that takes over to pay the remaining debt and we will replace the previous one.

The debtor then reimburse the mortgage to the new arrangements.

According to recent regulations are void contractual clauses that prevent the exercise and make it costly for the customer (Art. 8 co. 3 of Law 40/2007).

To verify the opportunity of subrogation of the mortgage you have to compare the old loan agreement with the characteristics of the new proposal. The verification is performed by requesting a quote for this operation to more credit institutions or using comparison services on the web.

The procedure of subrogation

You must ask the new bank (or new bank), written permission from the original bank to acquire the exact amount of the outstanding debt, agreeing at the same time a possible date to formalize the operation.

The new bank will proceed to step in formalizing subrogation by private or public act:

• the loan agreement between the new bank and the customer

• the payment receipt issued by the original bank

• consent to subrogation and subrogation of the same annotation in the margin of the mortgage original

We note that in each case there is the involvement of a notary, who shall authenticate subscriptions and prepare the public act.

What are the costs and expenses?

Pursuant to art. 8-bis of Law no. 40 of 2007, "and 'absolutely forbidden to charge the expenses related to the preparation, production, shipment, or other expenses however denominated, in respect of communications referred to in Articles [...] 8 [...]."

And yet, as introduced by art. 2, co. 450 of Law 244 of 2007 to change 40/2007 "c) In Article 8, after paragraph 3 is added as follows:" 3-bis. Subrogation referred to in paragraph 1 involves the transfer of the loan agreement exists, conditions agreed between the customer and the new bank, with the exclusion of criminal or other charges of any nature. They can not be imposed on the customer charges or fees for the granting of the new mortgage, for the investigation and the findings cadastral, taking place in accordance with procedures of interbank collaboration based on criteria of minimizing the times, the activities and the associated costs. "



No penalty must be paid for early repayment or part of the mortgage for the purchase or renovation of a home or the conduct of business or profession by natural persons (Article 7 - Law 40/2007)

In particular, are exempt from criminal

- Loans for the purchase of a principal signed with a bank, as of 2 February 2007;

- Loans for the purchase or renovation of a home or building unit used in the conduct of its business economic / vocational entered into with any financial entity (bank, financial institution, etc..) With effect from 3 April 2007.

For loans made before 2 February and 3 April 2007, you have to check the criminal that the banks have decided to apply, in accordance with agreements reached with consumer associations (fines vary according to the type of mortgage signed and time-based remaining for the extinction).



Translated via software



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