Spanish Floor Clause Claims
Are You Overpaying Interest Due to the Spanish Mortgage Floor Rate?
You Are Now Entitled To Claim a Refund of Overpaid Interest from Spanish Banks!
Would you like to hire a Spanish & UK based team?
What is a Spanish Floor Clause?
If you have a Spanish Mortgage there may well be a Floor Clause, in which case you can make a bank claim. In Spanish, these “Cláusulas Suelo” allow your bank to unfairly charge you additional interest. How? They establish a “floor” for your interest payments, so even in the case that your actual interest value decreases, you are still liable to pay the quantity established by the Floor Clause.
Fortunately, this clause has been deemed illegal and abusive by Spanish and European Courts. Unfortunately, it is often hidden through various legal terms. You will need professional help to assess if you have a claim.
You can find out today!
Wherever You Are There Is No Need To Travel
Our team is conveniently located across the country in Andalusia, Catalonia, Valencia, Balearic Islands, Madrid and more. They are dedicated professionals who have won landmark cases in Spanish courts.
Contact us and let them assess your mortgage. You can then decide on our services offer.
The professionals at Spanish Bank Claims are qualified Spanish lawyers. With a close connection to British clients and a profound knowledge about the Spanish legal system, the success rate of the members of this team is among the highest in the property law sector.
No Need to Travel. Start Your Claim from the UK.
Sounds Good, What Next?
One – You call us and complete our questionnaire. We will analyse your case and design a tailored proposal.
Two – If you agree with our budget, we will start a preliminary negotiation with the bank. We will inform you of your options.
Three – You could already recover your money at this point. If there is litigation, we will make a specific services offer and commit to take your case up to the Spanish Supreme Court.
We can conduct all communication and notary services in the UK.
Why Can I Make This Claim Now?
The Floor Clause or “Cláusula Suelo”, in Spanish, is a common term in many mortgages that was declared illegal by both Spanish and European law. This is because it forced borrowers to pay above a set interest rate even if the official EURIBOR indicator went below that threshold.
You can and should reclaim, but it is best if you do so with legal aid. This is because the clause is never explicitly written into your mortgage contract. Rather, it is included through different expressions that only someone with experience in Spanish property and real state law will recognise. In any case, if you have noticed that your payments have not decreased even though the mortgage indicator has done so, please contact us, and we will inform you if you can start claims against your Spanish bank.
Spanish Floor Clause Frequently Asked Questions
How does the negotiation with the bank work?
We are very careful in analysing your mortgage contract before deciding how to approach your bank. Since we have lawyers across the whole of Spain, we have experience with multiple entities and jurisdiction. Our preferred outcome is to solve matters directly with the bank; however, we strongly advise our British clients not to pursue this action independently. This is because, under the current legal regime, banks can settle without offering full compensation. We will ensure this is not the case.
How do you assess my mortgage?
We will need a copy of your mortgage deed “Copia Simple” and invoices of your mortgage expenses (notary deed expenses, land registry costs, property appraisal and other costs). The analysis of these documents is free of charge and our firm will let you know of the possible outcome. If you think that it is worthy for you to claim, you should know that our firm works in a “no win no fee basis”.
Why do I need a lawyer to make these claims?
As you probably know, the Spanish legal system is quite different from the UK legal system. One of the specific traits is that, in Spain, cases of this type only admit a single court process. Equally, in terms of dealing with banks and other institutions, Spanish lawyers are better acquainted with the timings, formalities and paperwork expected by authorities in the country. Our team of expert lawyers has been dealing with abusive mortgage terms for a long time and can attest to a high degree of success.
Do You Want Find Out If The Spanish Floor Clause Applies To Your Mortgage?
We are here to help, get in touch now.
This initial consultation puts you under no obligation to use our services.
The fastest way to start your claim is to complete the enquiry form. It only takes 20 seconds, and we will get straight back to you.
Or call us on +44 203 432 5624