cláusula suelo Tag

05 Feb HOW DOES THE EXTRAJUDICIAL PROCEDURE WORK TO RECOVER THE UNDULY PAID MONEY FOR ABUSIVE SOIL CLAUSES IN BANK MORTGAGES?

1) Initiation of the process – It is compulsory for all banks to take the necessary measures to comply with the extrajudicial procedure. – Claims by individuals or consumers in front of the bank may be submitted (since a year ago). – The banks must make available to...

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28 Jul I have a mortgage with bank for my company-owned house in Spain, can I get compensation for an unlawful “floor clause”

No, you cannot. As a Juridical person (i.e. a Mercantile Company) your company does not have the profile of a consumer according to the law. Consumers or users according to the law are the natural persons who act with a purpose outside their business, commercial...

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11 Jul What is a “cláusula suelo” anyhow and how illegal it is when it is included in a Loan contract

Practically the whole financial sector is subject to trial in front of  the judge in what refers to the controversial “ground clauses, or cláusulas suelo”, that prevented numerous mortgaged Spaniards or Spanish residents to benefit from the strong slope of the interest rates experienced from end of 2008. At...

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14 Feb A judge will put the entire Spanish banking sector on approval about the controversial “ground clauses, or cláusulas suelo” of the mortgages.

  Practically the whole financial sector will be subject to trial in front of  the judge in what refers to the controversial “ground clauses, or cláusulas suelo”, that prevented numerous mortgaged Spaniards or Spanish residents to benefit from the strong slope of the interest rates experienced...

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