Spanish Bank Refunds News

Bankia Floor Clause News

 

Spanish lender Bankia on Monday announced it plans to refund charges to all of its mortgage holders affected by so-called “floor clauses” (cláusulas suelo), which saw a lower limit imposed on monthly mortgage repayments no matter how much the interest rate on the loan fell, and which have been found to be abusive according to a ruling by the European Court of Justice (ECJ). Some 1.4 million bank customers in Spain are thought to be affected.

 

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The European Union Court of Justice (ECJ) orders today the full and total refund of the mortgage floor clauses in Spain

Today the European Court of Justice declared that the decision of the Spanish Supreme Court Ruling held on the 9th of May 2013 was limited, and the terms and conditions and indeed the use of the ruling were unfair. Not only did the ruling provide incomplete and insufficient protection for consumers, it limited the amount Read more about The European Union Court of Justice (ECJ) orders today the full and total refund of the mortgage floor clauses in Spain[…]

Fast-Track Clausula Suelo Claim

Due to such a high response with our claims we now offer a ‘Fast-Track Claim Service’ to help speed up the process. To use the Fast Track Text Service you must be able to send us the documents (copies) we require via email or fax to our solicitors. This will enable us to tell you within Read more about Fast-Track Clausula Suelo Claim[…]

IRPH & Euribor

IRPH & Euribor

IRPH & Euribor The interest reference rates that charge the mortgages in Spain have been the IRPH & Euribor. The former is a reference linked to the interest rate set by the European financial authority; the latter is a rate created by the Spanish financial institutions (initially the local Cajas or saving banks) and is Read more about IRPH & Euribor[…]

Affected by the Floor Clause?

Floor Clause News for Spanish Mortgage Holders

“The mortgage ‘floor clauses’ are a fraud.” Floor Clause News for Spanish Mortgage Holders A floor clause (or “cláusula suelo” in Spanish), usually entered in a financial agreement in relation to a cap floor, refers to a specific condition generally included in financial contracts, principally loans. Thursday, April 7, 2016, could go down in history Read more about Floor Clause News for Spanish Mortgage Holders[…]

Floor Clause Eliminated

Floor Clause Eliminated

New case won by solicitors in Alicante eliminating the floor clause with full retroactivity
Once again a victory against the floor clauses via solicitors. In this case the sentence has been achieved in Alicante where Ibercaja has been sentenced to refund all the interests that was unduly charged to a client for a mortgage on the grounds of a floor clause, according to a sentence which can still be appealed. The judgement contradicts the Supreme Court’s orders that limit the retroactivity of the refund from May 13th in order to avoid undermining the socioeconomic order.

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Claim Refund Spain Mortgages

Other Terminology Banks Use To Hide The Clausula Suelo “Floor Clause”

“TO CALL A SPADE A SPADE” “is to describe something clearly and directly” Rather than using oblique and obfuscating language, just “TELL IT LIKE IT IS”. well thats what we all would like eh!!!! Go to your bank get a good deal… walk away smiling over the moon that you have secured a good rate Read more about Other Terminology Banks Use To Hide The Clausula Suelo “Floor Clause”[…]

Claim money back spanish floor clause

Has Every Mortgage Sold On All The Costa’s In Spain Got A Clausula Suelo or “Floor Cause”

Do you live in one of these Costa areas? Very nice eh! well it doesn’t matter where on any Costa you happen to live… if you have a mortgage on your home you have probably been conned and are paying far to much interest on your mortgage repayments since 2003… yes for 13 years now Read more about Has Every Mortgage Sold On All The Costa’s In Spain Got A Clausula Suelo or “Floor Cause”[…]