Bank and insurance paperwork in Spanish

Terms used

• FEIN — The FEIN is the standard information sheet the bank gives you with its binding mortgage offer, setting out the loan's terms and costs.
• FiAE — The FiAE is the standard warnings sheet the bank gives you with a mortgage offer.
• TAE — The TAE is the total yearly cost of a loan, including interest and certain fees.
• SECCI — The SECCI is the standard European information form a bank gives you for a consumer loan.
• Póliza — The póliza is the written insurance contract, with general, particular and special conditions.
• Prima — The prima is the price you pay the insurer for the policy.
• Franquicia — The franquicia is the part of a loss you pay yourself; the insurer pays only above it.
• Cláusula limitativa — A cláusula limitativa is a policy clause that restricts your rights; it only binds you if highlighted and specifically signed.

Key rules

• Mortgage documents: Ask for the FEIN, the FiAE and the draft contract early, and do not sign at the notary until you have had them for the required time.
• Exclusions: An insurer cannot rely on a limiting clause you did not specifically accept in writing.
• Joint accident form: Sign a parte amistoso only if you and the other driver agree on what happened and no one is hurt.
• Accident notice: Tell your insurer about an accident within seven days of learning of it.

Bank paperwork before you sign a loan

For a home mortgage, the bank must give you the draft contract and the standard information sheets at least 10 days before you sign at the notary. Do not sign anything you have not had that long to read.

You should receive three documents:

• The FEIN, which comes with the bank's binding offer. It sets out the loan's terms and costs.
• The FiAE, a sheet of standard warnings about the risks of the loan.
• A copy of the draft contract.

Before signing, the notary checks that you understood the mortgage. This is done through a short test or written minutes. Answer honestly and ask the notary to explain anything unclear.

The TAE is the number to compare

The TAE is the total yearly cost of the loan, including interest and certain fees. Find it on the FEIN and compare it between offers. The interest rate alone does not show the full cost.

Fees and linked insurance

Banks must publish their fees and commissions in a list registered with the Banco de España, available on its web portal. If a charge on your offer or statement is unfamiliar, ask the bank to show you where it appears in that list. Also ask whether any insurance is tied to the loan. Any link should be disclosed to you.

For a consumer loan (a car, a personal loan), you get the SECCI instead. It is the standard European consumer credit information form. Rules differ for other banking products and some business loans, so ask the bank what applies.

Insurance policy wording

Your póliza is the written insurance contract. It has general, particular and special conditions, and the insurer must hand them over to you. These are the words you will meet most:

• Prima: the price you pay the insurer.
• Franquicia: the part of a loss you pay yourself. The insurer pays only above it.
• Siniestro: the event that causes damage and triggers cover, such as an accident, theft or fire.
• Cobertura: the risks and losses the policy covers, with its limits and exclusions.

Exclusions you must have signed

A cláusula limitativa is a clause that restricts rights you would otherwise have from the cover. It must be highlighted in the policy and you must accept it specifically, in writing. Without that highlighting and your signature, the insurer cannot use the clause against you and must pay as if it were not there.

Clauses that simply define what is insured (the risk, the object, the time or the place) do not need a special signature. Whether a clause is one or the other is decided case by case by the courts. If an insurer refuses a claim by pointing to an exclusion, check whether you signed it separately, and get advice if you did not.

Read the exclusions before you sign, not after a loss.

Filling in the parte amistoso

The parte amistoso is the joint accident statement. Use it only if both drivers agree on how the crash happened. If you disagree, or anyone is injured, call the police and do not sign a joint form.

The form covers:

• Date, time and place, injuries, other damaged property and witnesses.
• For each vehicle: driver, policyholder, make, plate, insurer and policy number, and green card where it applies.
• The first point of impact and the visible damage.
• The circumstances boxes, 17 numbered options. Tick only those for your own vehicle.
• A sketch of the accident, and observations.

Both drivers sign, and each keeps a copy. Take photographs of the scene and damage, and exchange details before you leave.

Language

The European form is the same in every language, with numbered boxes in the same places, so you can use your own language version. Insurers in Spain generally accept a form completed in another EU language. Write any notes in a language the insurer can read. A Spanish or English translation can speed up the claim.

If you and the other driver share no language, fill in only the numbered boxes, the sketch and the signatures. Do not sign anything you cannot understand: your signature confirms the description of the accident.

After the accident

Each driver gives the form to their own insurer. Tell your insurer about the accident within seven days of learning of it. The form itself does not have to arrive within that time, but send it promptly. Insurers' practice varies, so ask yours what else it wants.

The timeline, documents list and checklist below set out the steps in order.

Choosing between options

Should you sign a joint accident form with the other driver?

• Sign the joint form: Both drivers agree on how the accident happened and nobody is hurt. Each of you signs and keeps a copy.

• Call the police and do not sign: You disagree about what happened, or anyone is injured. A joint form only works if both drivers agree on the facts.

Sign only if you both agree on the facts and there are no injuries; otherwise call the police and leave the form unsigned.

Timeline and deadlines

• Complete the notary's test or minutes checking you understood the mortgage: in the days before signing

• Fill in the accident statement with the other driver, sign it and keep a copy: at the scene of the accident

• Deliver your copy of the accident form to your own insurer: as soon as possible after the accident

Documents you need

• The FEIN, the standard information sheet the bank gives you with its binding mortgage offer. It sets out the loan terms, the TAE (the total yearly cost of the loan) and the fees.

• The FiAE, the standard warnings sheet the bank gives you with a mortgage offer.

• A copy of the draft mortgage contract from the bank, before you go to the notary.

• For a consumer loan, the standard European consumer credit information form from the bank.

• The bank's list of fees and commissions, registered with the Banco de España and available on its web portal.

• Your insurance policy (póliza) with its general, particular and special conditions, handed over by the insurer.

• Your signed, specific written acceptance of any clause that limits your cover (cláusula limitativa), which the policy must also highlight.

• The accident statement form (parte amistoso), in any EU language, signed by both drivers, with one copy for each. Add a Spanish or English translation of your notes if you can.

Checklist

• Ask the bank for the mortgage information sheet, the warnings sheet and the draft contract.

• Find the TAE on the information sheet and compare it between offers.

• Ask the bank to show any fee or commission you do not recognise in its registered list of fees.

• Ask the bank whether any insurance is linked to the loan.

• Take photographs of the scene and damage after an accident, and exchange details with the other driver.

• Fill in the date, time, place, injuries, witnesses, vehicle details, insurer and policy number for each vehicle.

• Tick the circumstances boxes for your vehicle, draw the sketch and add observations.

• Sign the form only if you understand it, and keep your copy.

• Send the form to your own insurer.

Frequently asked questions

Does the language of the accident form matter?

No, the language matters little, because the European accident statement has the same numbered boxes and layout in every language. Spanish insurers generally accept one filled in in another EU language.

Can my insurer refuse to pay because of an exclusion I never signed?

Not if the exclusion limits your rights and you did not specifically accept it in writing. A clause that restricts cover must be highlighted in the policy and signed by you separately, otherwise the insurer must pay as if it were not there.

How long do I have to report an accident to my insurer?

You must notify your insurer within seven days of learning of the accident. The joint accident form does not strictly have to reach them in that time, but send it to your own insurer promptly.

Which information sheet do I get for a consumer loan instead of a mortgage?

For a consumer loan, the bank must give you a standard European consumer credit information form instead of the mortgage sheets. Ask for it before you sign, and check the annual cost of the loan (the TAE) on it.