Power of Attorney to Apply for Loans and Financing

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Yes, absolutely. You can precisely define the scope of the power by specifying:

• The specific banking institution where they can act
• The maximum amount of credit to apply for
• The specific type of financial product (personal loan, mortgage, credit line, etc.)
• The maximum financing term
• Any other condition you consider necessary

This limitation protects your interests and ensures the attorney-in-fact can only act within established parameters.

Not automatically. The power to apply for credits does not include by default the authority to establish personal guarantees (sureties) or real guarantees (mortgages) on your assets.

If you need the attorney-in-fact to be able to sign these types of guarantees, you must include additional express powers in the power's wording. Our notary will advise you on the specific clauses needed according to your case.

It is important to distinguish between managing a credit and pledging assets as guarantee, since the legal implications are different.

Yes, the notarial power of attorney is valid for both types of operations:

For individuals: personal loans, consumer credits, housing mortgages, refinancing, etc.

For businesses: business credit lines, commercial discounting, project financing, leasing, ICO loans, etc.

What is essential is to clearly indicate in the power whether you are acting in your own name or as the legal representative of a company, and specify the type of credit and business purpose when applicable.

All legal and financial responsibility falls on you as the grantor. The attorney-in-fact acts in your representation, but you are the holder and principal obligor of any credit they take out within the granted powers.

This means that:

• You are responsible for payment of installments and the total loan amount
• Your credit history will be affected by the operation
• You assume the consequences of default

That is why it is essential to grant this power only to people you absolutely trust and establish clear limits on the powers granted.

Yes, you can revoke the power whenever you wish through a new notarial deed of revocation. The revocation is effective from the moment it is granted before a notary.

For the revocation to be fully effective, we recommend:

• Formally notifying the attorney-in-fact of the revocation
• Communicating the revocation to banking institutions where the power was presented
• Requesting a copy of the revocation for your records and to deliver where necessary

You can also establish an expiration date or conditions of time validity in the original power.

No. The entire process is carried out 100% remotely. We use notarial videoconference with secure identification systems that comply with all current legal regulations.

You only need:

• Stable internet connection
• Digital certificate, electronic ID, or video identification system
• Device with camera (computer, tablet, or mobile)

The notary will verify your identity and will during the videoconference, with the same guarantees as an in-person signature.

The complete process is usually resolved in less than 24 hours:

• Initial contact: 5 minutes (form or WhatsApp)
• Power drafting: 2-4 hours
• Signature by videoconference: 15-20 minutes
• Document delivery: immediate in digital format

In urgent cases we can expedite the process even more. Once signed, the power has immediate validity and can be presented at banking institutions without additional waiting.

The required documentation is minimal:

From the grantor (person granting the power):

• Valid ID, NIE, or passport
• Digital certificate or electronic ID (or use our video identification system)

From the attorney-in-fact (person receiving the power):

• Full name and ID/NIE number

Operation information:

• Type of credit or financing
• Banking institution (if specific)
• Maximum amount and desired conditions
• Any limitation you want to establish

Our team will guide you to ensure you provide everything necessary.

Yes, the notarial power of attorney has validity throughout Spanish territory before any bank, savings bank, credit cooperative, or regulated financial institution.

Being a public document authorized by a certified notary in Spain, institutions are obligated to accept it as long as:

• The granted powers cover the requested operation
• The document is current and not revoked
• The institution's internal requirements for operations with attorneys-in-fact are met

Some institutions may request that the power include specific clauses for certain products. We advise you so the document meets all requirements.

The cost depends on the complexity of the power and powers to include. It includes:

• Notarial fees
• Personalized document drafting
• Signature videoconference
• Digital document with legal validity
• Complete advisory during the process

Contact us through the form or WhatsApp and we will provide a detailed quote without obligation, adapted to your specific needs.

Many clients save more in time and travel than the total cost of the service.