October 22, 2018 / 12:06 PM / 24 days ago

Spanish court sets date for criteria on mortgage stamp duty at Nov 5

MADRID, Oct 22 (Reuters) - Spain’s Supreme Court on Monday said it has fixed Nov. 5 as the date it will rule on future decisions regarding who will have to pay for stamp duties related to mortgages.

It also reiterated that Thursday’s ruling that banks would have to pay the stamp duty was final, potentially costing them billions of euros in compensation and raising pressure on their lending business.

On Friday, however the court said it would review the criteria and impact of Thursday’s ruling on mortgage stamp duty.

Banking shares plunged on Thursday but recovered on Friday.

On Monday, Bankia fell 2.3 percent and Banco Sabadell declined 3 percent. (Reporting By Jesús Aguado; Editing by Paul Day)

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