On April 7, 2016, the Commercial Court No. 11 of Madrid issued a ruling rendering all the floor clauses contained in the mortgage loan contracts of various entities null and void due to lack of transparency, condemning said entities to eliminate the clauses of all contracts for not being transparent.
This Judgment hits the media because it is a collective lawsuit but it says the same thing as the Courts of Murcia, Molina de Segura, Cartagena, Almería... the important thing you should know is that in addition to eliminating the clause, WE CAN RECOVER YOUR OVERPAID MONEY, which is normally a minimum of 5.000 euros depending on your mortgage.
The ruling condemns these entities to return to all consumers the amounts paid in application of the clause declared null and void as of the date of the ruling by the Supreme Court of May 9, 2013, with the corresponding interest.
The jurisprudence of the Supreme Court has qualified the abusiveness of floor clauses, since the lack of transparency deprives the consumer or makes it difficult for them to compare the cost of credit. These loans have a higher differential than other loans on the market, taking advantage of the drops in interest rates throughout life.
Floor clauses are those that establish a minimum amount that the mortgagee must continue paying despite the drop in the Euribor. These clauses have been declared null and void by the courts.
For all this, the Judgment has declared their nullity in more than 45 banking entities, including Liberbank and Banco Castilla la Mancha, Caixabank and Barclays, Kutxabank, Banco Mare Nostrum, Caja Rural Central, Caja Rural de Jaen, Unicaja, Ceiss, Caja Rural de Torrent, Ipar Kutxa, Caja de Arquitectos, Cataluya Banc, Bankia, Banco Sabadell, Ibercaja, Banco Santander, Banco Popular, Targobank and Banco Popular-e, among others.
DO NOT HESITATE TO CONSULT US. FREE FIRST CONSULTATION. WE REVIEW YOUR MORTGAGE AND INFORM YOU HOW MUCH YOU CAN RECOVER.
