SPANISH BANKS ARE LOSING THE BATTLE AGAINST THE EU CONSUMERS: MORTGAGE COSTS
Dear clients and readers,
I am proud to announce that we have recently won another important court case regarding the refund of the mortgage expenses by a Spanish bank.
Consequently, I believe this article will surely be of great interest for those people who might have (or had) a mortgage in Spain.
The novelty about this Judgment is that the Courts are at last imposing costs on Spanish banks, which is great news, as until now, litigation basically costed nothing to the banks.
According to this decision, the bank will have to refund 50% of the notary fees and the bank’s accountant’s fees, plus the 100% of the land registry fees.
Consequently, the financial value of these kinds of disputes might roughly amount to around 850-1.000 euros plus legal interests and costs.
Among others the court’s decision refers to the recent landmark Supreme Court rulings, this particular recent legal decision has a tremendous practical impact in those future cases for thousands of consumers (Spanish and EU citizens) who might have got a mortgage in Spain. The reason is because, facing the prospect of paying costs, the banks should think twice, before refusing to reach negotiated settlements or to file appeals to the High Courts.
100% RATE OF SUCCESS SO FAR
The good news is that we are winning all the Court cases against banks and we are currently preparing new lawsuits on behalf of an increasing number of foreign people affected, so we are very confident about their outcome as well. Remember, that even if you might be national from another country, you have granted the same rights as a Spanish consumer!
Likewise, the bank will still face liability, even if the mortgage might have been already cancelled within the limitation period of the action.
Therefore, in conclusion, if you think that your mortgage might be affected by abusive clauses, -such as the floor clause, -as a preliminary step, we suggest that you kindly ask your bank to remove immediately the floor clause from the mortgage Deed but with no condition at all.
ADVISABLE STEPS TO FILE A CLAIM
Question; In case I might decide to go ahead, what is the actual process of claiming against the banks through the Courts? What paperwork is needed?
First, regarding the documents required, we will need to send us:
a) a copy of the MORTGAGE CONTRACT (MORTGAGE DEED).
b) Likewise, a copy of the following invoices (Notary-land registry and accountant or “gestor”)
c) bank statements showing the amount of money paid in capital and interest since the beginning of the mortgage would be extremely useful, in order to take the opportunity to review the interest rate applied to the mortgage.
Second, – once the paperwork has been received and verified, – we would enter into negotiations with the bank, in order to try to reach and out of Court settlement that might avoid litigation.
Third, if the bank might refuse to negotiate with our Firm, then we would then recommend suing the bank in Court.
How to contact us for further specific advice?
We hope this information is useful. We will be glad to help you in order to claim the nullity of any abusive mortgage clause, as well as to claim the refund of the costs and interests overpaid paid on your mortgage contract.
Should you be interested in receiving more specific information, (either about this particular subject or any other), you can contact our Firm in several ways:
1. Call us or send us a Whatsapp now to (0034) 687 88 88 73.
2. You can also use our e-mail form at the top of the sidebar of your screen, or alternatively, you can send us an e-mail to firstname.lastname@example.org
Our commitment, we’ll respond to your e-mail inquiry in less than 24 hours.
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Finally, thank you very much for your attention, and in case you might have any question or doubt at all, please do not hesitate to contact us and we will be glad to clarify immediately.
We look forward to helping you and the benefit of our “know-how”.
Mr Oscar Ricor
“NON-PRACTISING ENGLISH SOLICITOR IN ENGLAND AND WALES”, under the “Solicitors Regulation Authority” (SRA) SRA number 519196 and practising Spanish Solicitor.