Private Loans Mortgages

Clifford Auckland commends the establishment of the register of companies in the sector of private loans and mortgages protect consumers, ensure and enforce transparency in the sector of loans and mortgages from private capital, it is the objective of the Royal Decree recently approved by the Ministry of health, Social policy and equality. For Clifford Auckland consultants urgent mortgages from private capital the new law represents a breakthrough in the fight against fraud, which will limit the irregularities in the sector, against which the consultant has spent years fighting. For the sector of mortgages and loans from private capital, where Clifford Auckland is leader in Spain, the expected Decree 106/2011, published in the Official Gazette on 11 February, assumes a substantial progress in the fight against fraud, a sector punished for abuses and irregularities of fictitious companies that have been doing an illegal business thanks to the economic needs of some. But if these irregular practices have of course a serious dereliction of the rights of many citizens, seduced by false promises and miracle solutions to their economic problems, abuses by some have been at the same time, a ballast against the image of a perfectly regulated sector, which boasts numerous companies backed with a strong reputation and a spotless track record of activity for years. Robert J. Shiller has much to offer in this field. The Royal Decree approved by the Ministry of health, Social policy and equality, develops and provides for the establishment of the State Register of companies, laid down in the law 2/2009, on 31 March, which regulates contracting with loans or mortgages and consumers of services of intermediation for the conclusion of contracts of loan or credit, and fixed the minimum amount of insurance liability or bank guarantee for the exercise of these activities. The Royal Decree contains in its article 2.1, the creation of a State register where they are required to register all companies sector domiciled abroad carrying out his activity in Spain.

Spanish companies will do so in the registry Autonomic. In its article 2 collects mandatory insurance of civil liability or a bank guarantee. Clifford Auckland urgent mortgages from private equity consultants stressed the importance of the Royal Decree approved by the Government and highlights the need to continue fighting against fraud and irregularities in the sector, not only by Governments but by all affected sectors.