At White Baos lawyers, we have helped many of our clients successfully claim for what are known as floor or suelo clauses.
If you have a mortgage (loan) and your monthly payment has not decreased, perhaps you have a floor clause. If you do not know if you may be affected by this or not, please do not hesitate to contact us.
This type of clause consists of a limitation on the variable interest agreed on the mortgage. Thus, the bank’s client cannot benefit from the drop in the interest rate below a certain percentage
Our law firm has been advising our clients with regards to claims against banks for years. Claims include: toxic products, floor clause, multi-currency loans, etc
We are therefore, lawyers who specialise in banking law and consumer protection law, especially helping expatriates and foreigners living in Spain.
In principle, if you are a consumer, and the bank did not offer you specific information about the floor (suelo) clause, the normal thing is that cancellation of the floor will be agreed, due to lack of transparency
Our office today has obtained dozens of judgments in favour of our clients and all of them have been accepted. That is to say, the courts have upheld our claims, and the banks have been instructed to return to the clients any interest that was overcharged.
CLAIM WITHOUT RISK OR EXPENSE
At White Baos Abogados, we offer consumers a NO WIN NO FEE policy, that is, we only charge if the matter is won and the client is paid, with charges based according to the amount that the bank returns.
In addition, it is not necessary to make any provision or pay money on account to initiate the legal claim against the bank.
Apart from the floor clause, it is quite possible to claim against other recognised abusive loan clauses such as
Expense clauses: whereby the consumer is obliged to pay for all the expenses of the mortgage. If you have invoices from the notary, registry, manager, etc. send to us and we should be able to obtain a refund for you.
Delay interest clause. Any interest for late payment that your bank charges, more than two points above the normal interest, is abusive. If so, you can claim for it be returned
WHO CAN CLAIM?
In principle, all those who are consumers can complain about the lack of transparency of the floor clauses. The mortgage loan does not have to be related to a professional or commercial activity, but It is important that you do not have special knowledge in that area.
If you are affected by a floor clause or by any abusive clause in your mortgage and you want to receive expert legal advice, contact us.
The information provided in this article is not intended to be legal advice, it simply transmits information related to legal issues.
Carlos Baos (Lawyer)
White & Baos
Tel: +34 966 426 185
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