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Clausula suelo: Mortgage floor rate clause ( minimum interest clause). It is legal?. How to claim against Spanish bank for interests charged back.

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    Spanish Mortgage Loans: refund of the overpaid interests in the cases of mortgage floor rates clauses, despite the Court Order from the Highest Court of Spain.

    Dear Readers , As informed previously, recently there was a Court Order published from the High Court of Spain (Tribunal Supremo TS), in relation to mortgage floor rates, number 1916/2013. Mortgage Floor or Minimum Interest Clause, is a clause included in most mortgage loan agreements, setting a minimum rate of interest. These clauses limit any […]

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    Consumers and Users Rights in Spain. The Municipal Information Office for Consumers OMIC.

    We frequently receive consultations regarding possible abuses made by companies and businesses against consumers. Our firm provides advice in this field, in issues such as bank preference shares, mortgage loan floor clauses, claims for goods in poor condition, and in general on those practices which violate the consumers’ and users’ rights, when they have relevant […]

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    Finally, the complete Spanish High Court Order concerning the mortgage floor rate clauses has been published. If you have a mortgage loan, this is of interest for you.

    Dear Readers , As informed previously, a mortgage or interest floor rate (clausula suelo) is a clause included in most mortgage loan agreements, setting a minimum rate of interest. These clauses limit any possible fall in the level of interest rates, normally the Euribor. As announced some weeks ago, the complete Court Order from the […]

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