houses Tag

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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20 Dec Can my bank seize and auction in Spain other assets in my name beyond the mortgaged property in case I stop paying?

Yes, the bank can do that. Generally speaking, mortgage-loan contracts for individuals signed with bank entities include the faculty for the bank being able to choose any of the debtor’s assets, present or future, at the time they recover the debt. Therefore, the bank can...

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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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