Mortgage Disputes

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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Cost of a Mortgage in Spain

26/09/2014
Cost of a Mortgage in Spain

There are a number of costs involved in arranging a mortgage in Spain and include commissions charged by the financial institution involved as well as taxes to the government. The commissions charged by the bank can be divided into two types: Finance Check and Opening Charge. Finance Check The amount charged for checking into the […]

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Will you benefit from new mortgage debt repayment rules?

15/07/2013
Will you benefit from new mortgage debt repayment rules?

In May of 2013 the Spanish government introduced a new law affecting how mortgage debt is to be dealt with by the nation’s banks in an effort to assuage the effects of a growing number of households in negative equity and the seemingly ceaseless rise in home repossessions. In particular the new law introduces new […]

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Property deposit returned on basis mortgage not approved

03/07/2013
Property deposit returned on basis mortgage not approved

The Supreme Court has ruled that ‘an obscure’ clause in a pre-purchase contract for the purchase of property from a construction company was sufficient to render the entire contract invalid and force the return of the deposit monies previously handed over by the prospective purchasers. The Court was at pains to distinguish the clause that […]

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Minimum Valuations on Foreclosed Properties Increased

28/02/2012
Minimum Valuations on Foreclosed Properties Increased

The National Council of Public Notaries in Spain has issued a circular to all practicing notaries to the effect that the new laws relating to foreclosures approved judicially should be extended to ‘non-judicial’ foreclosures. The new rules have a number of effects, the most important perhaps being that the minimum value that may be attributed […]

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Solutions to mortgage repayment problems in Spain

25/05/2011
Solutions to mortgage repayment problems in Spain

  For a not inconsiderable number of people the Spanish dream has turned into a nightmare as a result of the property implosion. Setting aside those semi-professional property investors who borrowed in the extreme in order to buy multiple properties, those who simply dreamed of a retirement or permanent move to the sun and who […]

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Foreclosure in Spain: Giving the property to the bank

26/04/2011
Foreclosure in Spain: Giving the property to the bank

Dación en Pago Following the financial crisis in 2007 and against a backdrop of mounting property foreclosures in Spain the courts saw  an increase in disputes where the owners of property were seeking to hand over their property to the bank to clear the mortgage they had taken out on the property. This is known […]

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