Government Mortgages

Clifford Auckland praises the creation of the registry of companies of the sector of loans and private mortgages To protect the consumers, to assure and to demand transparency in the sector of the loans and mortgages of private capital, are the objective of the Real Decree recently approved by the Ministry of Health, Social Policy and Equality. For Clifford Auckland consulting of urgent mortgages of private capital the new Law supposes an advance in the fight against the fraud, that will limit the irregularities in the sector, against that the consultant has been years fighting. For the sector of the mortgages and loans of private capital, where Clifford Auckland is leader in Spain, waited for Decree 106/2011, published in the BOE the 11 of February, supposes a substantial advance in the fight against the fraud, a sector punished by the abuses and the irregularities of fictitious companies, that have come making an illegal business thanks to the economic needs of some. But these irregular practices have supposed one serious carelessness of the rights of many citizens, seduced by false promises and miraculous solutions for their economic problems, the abuses on the part of some have been at the same time, a ballast against the image of a perfectly regulated sector, that counts on numerous companies guaranteed with a recognized prestige and a faultless trajectory of activity during years. The Real Decree approved by the Ministry of Health, Social Policy and Equality, develops and contemplates the creation of the state Registry of companies, anticipated in Law 2/2009, of 31 of March, by that the hiring with the consumers of loans or hypothecating credits is regulated and services of intermediation for the celebration of contracts of loan or credit, and determines the minimum amount of the responsibility insurance or banking endorsement for the exercise of these activities . The Real Decree gathers in its article 2,1, the creation of a state Registry where all the domiciled companies of the sector are forced to register abroad which they realise his activity in Spain.

The Spanish companies they will do in the autonomic Registry. In its article 2 it picks up the obligatory nature to contract to an insurance of civil responsibility or a banking endorsement. Clifford Auckland consulting of urgent mortgages of private capital emphasizes the importance of the Real decree approved by the Government and shows the necessity to continue fighting against the fraud and the irregularities in the sector, not only on the part of the Administrations but by all the affected sectors.

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