Subrogación de hipoteca

A change of one of the parties to a live mortgage, without cancelling it or creating a new one. It has two variants. Creditor subrogation: the client moves their mortgage to another bank offering better conditions; the original bank may match the offer to keep them, and fees are capped by law. And debtor subrogation: the buyer takes over the mortgage already on the home — typical in new builds, where the buyer can step into the developer's loan. Its advantages over creating a new mortgage: part of the formalisation costs are saved and the process is quicker. In return, the bank must approve the new debtor's solvency, and the inherited conditions are not always the market's best: compare before accepting a subrogation out of inertia.