Non-fulfilment
Both creditor and purchaser have their rights and obligations. They must always be prepared in case the bank should not take charge of any of its responsibilities.
Right from the very start, we have to ascertain the reliability of the bank through which we apply for our mortgage. However, nothing is more important than knowing which resources are available to us in the event the bank should act as such. In fact, the bank has two types of consumer responsibilities:
- Liability: the bank is obliged to fulfil its obligations and, if necessary, to compensate the purchaser for any damages derived from any non-fulfilment.
- Administrative Responsibility: there are other types of sanctions which the client may impose should the bank fail to satisfy specific consumer protection standards. These are called administrative infringements.