General conditions

Finance Fasty Project Loans SL acts as an independent financial intermediary for loan concessionaires.

Repayment period up to 30 years.

Example of a mortgage loan calculation for an amount of € 25,000. Term 120 months. Uninsured. TIN 13%. Monthly fee € 373. Total amount to pay (capital + interest) € 44,760. The TIN may vary depending on the amount and duration of the loan. TIN min./max. 8.95% / 16% APR min./max 9.71% / 17.89%.

Offer subject to the authorization of any of the entities with which Finance Fasty Project Loans SL intermediates and which makes the loan proposal after studying the documentation provided by the client and signing the contract. This loan must be guaranteed with the mortgage of a property.

Maximum amount of the loan available in relation to the value of the real estate to be mortgaged: The maximum amount will be 50% of the valuation of the home, depending on the circumstances of the company and the property to be mortgaged. Example: If the valuation of the home is € 100,000, the maximum loan amount will be € 50,000.

Loan types:

  • Payment of interest and amortization of capital at maturity.
  • Payment of interest periodically and amortization of capital at maturity.
  • Payment of comprehensive periodic installments of capital and interest and amortization of the part of the remaining capital at maturity.
  • Payment of periodic comprehensive capital and interest installments.
  • Repayment term: Maximum repayment term of 30 years.
  • Periodicity of payments: Monthly or when the loan is due.

TYPE OF INTEREST

The maximum interest rate of the loans that we intermediate is sixteen percent per year (16%). This interest rate is fixed until the total repayment of the amount borrowed.

TIN min./max. 1.95% / 16%

LINKS AND PREPARATORY EXPENSES

The costs are established by each entity, as an example:

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 appraisal company, the notary's office and the lawyer.

EQUIVALENT ANNUAL RATE AND TOTAL LOAN COST

The APR is the total cost of the loan expressed as an annual percentage. The APR is used to help the customer compare the different offers.

The maximum APR of our loans that we mediate is 17.89%.

APR min./max 1.71% / 17.89%

For informational 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, on transparency and protection of banking services customers , published in the "BOE" no. 261, of October 29, 2011, pages 113282 and following.

The total cost of the loan for an alleged amount of 25,000 euros on a farm in CA, with a term of ten years and an interest of 13% fixed per year is 22,156 euros with any of the entities that we intermediate is broken down into the following items:

  • Interest: € 19,760.
  • Notarial matrix: € 1,000
  • Property appraisal of less than € 200,000: € 466
  • Lawyer: € 605
  • Opening: € 325

This is an example of the conditions established by the proposed entity, regardless of the rates of Finance Fasty Project Loans SL for financial intermediation, also published on this website.

EARLY AMORTIZATION

Compensation for withdrawal: It will be 0.5% or 0.25% of the amount repaid in advance, depending on whether it is withdrawn before or after the first five years from the formalization of the loan.

EXECUTION FOR NON-PAYMENT

For the execution of the loan in case of non-payment, the creditor may opt for the ordinary executive action regulated in arts. 517 and 571 of the Civil Procedure Law, by direct action against the mortgaged asset of Art. 129.1.a) of the Mortgage Law or by extrajudicial sale by Notary Public regulated in art. 129.1.b) of the Mortgage Law.

VARIOUS

You can consult the Mortgage Loan Access Guide from the Bank of Spain at the following email address:

www.bde.es

You have the right to individually negotiate the terms 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 for the payment of the loan 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 carried out therein, Spanish legislation will apply, to which the parties expressly submit, being competent to resolve all derived conflicts or related to its use the Courts and Tribunals of CA.

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