Clausula Suelo

Spanish mortgage floor clause claim

09/12/2018
Spanish mortgage floor clause claim

Recent rulings by European and Spanish courts mean that, if you’ve taken out a Spanish mortgage, you could be entitled to reclaim considerable amounts of money as a result of the abusive floor clause controversy. There are two basic areas in which payments may be reclaimed; mortgage constitution costs, and abusive floor clauses in mortgage contracts. ***** […]

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Bank ordered to pay back customer €17,000 due to illegal mortgage floor clause

29/07/2013
Bank ordered to pay back customer €17,000 due to illegal mortgage floor clause

The High Court in Álava province (Basque Country) has declared a so-called ‘clausula suelo‘ – or mortgage floor clause – null and void and ordered the bank in question, Liderbank (formerly Caja Extremadura), to return €17,000 that it received from the customer as a result of the clause that was contained in the mortgage agreement. […]

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Have a Cláusula Suelo attached to your Mortgage in Spain?

19/06/2013
Have a Cláusula Suelo attached to your Mortgage in Spain?

The Spanish Supreme Court has set-out rules that the banks must comply with in order that they may rely on the so-called ‘Cláusulas Suelo’ , which are clauses in the mortgage agreement which allow the banks to limit the extent to which their borrowers can benefit from the extremely low interest rate environment currently prevailing […]

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Spanish Mortgage Standard Term ruled Unfair and Unreasonable

20/04/2011
Spanish Mortgage Standard Term ruled Unfair and Unreasonable

For the second time the Spanish courts have ruled that so-called ‘cláusulas suelo’ or clauses used in variable rate mortgages that set a minimum below which mortgage rates may not fall are unfair and therefore void. Banks and other financial institutions have traditionally included such clauses in their mortgage agreements to protect themselves from exceptionally […]

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