Mortgage floor clause refunds in Spain
Many international clients are benefiting from refunds of the amounts overpaid on their Spanish mortgage.
The overpayments relate to the inclusion of a floor clause within the mortgage agreement.
The clause ensures that despite the low Euribor rate, mortgage holders have not seen a reduction in their monthly mortgage payments.
How do you help?
GB Abogados benefit from a department specifically for mortgage-related issues.
Over the past few years, we have helped hundreds of international clients with issues arising from their Spanish mortgage.
The property crash led to a large number of people seeking to return their property to the banks. We were successful in helping many clients achieve this.
The current situation in Spain is that the banks are receiving a large volume of claims for refunds linked to floor clauses.
GB Abogados offer a No Win No Fee for new floor clause claims. We will negotiate with the bank with the aim or reaching an amicable, out of court agreement for the refund of monies overpaid.
Will court action be necessary?
Despite government intervention and many mortgage lenders supposedly introducing a process for handling claims, the majority of banks remain reluctant to refund the amounts voluntarily.
Over the past few weeks, we have taken many cases to court. This remains the last resort, as it does incur a cost.
Positively, the banks are losing time after time.
Many cases are settled right up to the point of the hearing commencing.
Quite why the banks take this stance is unclear, as ultimately it costs them more money.
What is the first step?
The first thing to do is to contact us and send over a copy of your mortgage agreement together with your full contact details.
This information can be sent through to info@gbabogados.co.uk
We will confirm receipt and review your documentation. You will receive contact from us to explain your options and how we can help.
Do you charge for reviewing my documents?
There is no charge for reviewing your documentation. This is part of our free consultation.
If you have a floor clause and we can help, we will provide a No Win No Fee Terms of Business which formally appoints us.
