The floor clauses of the mortgage if they are not transparent are unfair and should be annulled. If your mortgage has this clause, do not settle: reaction, our attorneys asked to cease to apply, making sure they do and claiming the money they charged you more.
So many entities included in their mortgage contracts a floor clause that limits the drop in interest rates. After years of struggle, a Supreme Court has ruled in favor of affected consumers and states that, if not informed transparency, these floor clauses are unfair and should be rescinded and annulled. As most contracts don’t comply with the requirements of transparency, practically all consumers have the right to eliminate them these terms of its contract and recover the sums unduly paid.
Loroño Lawyers will help you to claim your money back with all the wiles you need.
1. Find out if your mortgage has floor clause.
The lawyers of our firm recommend you first find out if your loan has instead floor clause. Most likely if so you already know, because you’ve not been able to take advantage of decreases of Euribor. But if you are in doubt, take the bank receipt. Look at the interest rate that applies to you, if it exceeds the value of Euribor (0.154% in september 2015) plus the differential (be in your contract) is that your mortgage has floor clause.
Compare these these receipts for the same mortgage, before and after the sentence that ends with floor clauses and check the difference.
2. Calculate how much you overpaid.
The Money you had to pay for being unable to take advantage of lower interest rates of interest can be a substantial sum. Calculate how much is in your case to find out what you owe your bank
3. Requires that they remove your clause.
If your mortgage is in BBVA Novagalicia or Cajamar, they will remove directly the floor clause, and can be the same way with Banc Popular, after the final judgment of the Supreme Court. But if it’s with another entity, the lawyers usually do our firm will specifically asked it for you.
Keep in mind that the bank is not willing to lose money: Stay tuned and do not fall into their tricks.
If to remove the floor clause to you they propose a deal that involve modifying the contract, don’t accept. A mortgage modification is considered a pact between the parties. Besides being totally valid can have additional expenses (Notary Records, Valuation, Agencies, Commissions …). Check first to our lawyers.
4. And ask your money back
Even if they remove the floor clause is probably the don’t want overpaid you back .
The misapplication of the floor clause has meant that banks have overcharged their customers. And have claimed, amounts, on average, around 6,000 euros.
We encourage you to go to court to get it. Loroño Lawyers will help you assert your rights providing you a lawyer and a prosecutor giving you a reasonable price.
* TABLE OF EURIBOR DURING MONTHS AND YEARS. CALCULATE THE INTEREST THAT THE BANKS HAS TO APPLY YOU WITHOUT FLOOR CLAUSE.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.